I’m sure this question has been asked ad nauseum on this forum but what truly is the best time of the year to buy? Memorial Day, when the next year models come out, Black Friday, end of year, other?
I don’t have the funds right now but hoping to gain enough in the next few months to pull the trigger by Memorial Day if possible
The best time to buy a truck could be at anytime, depending on many factors, but the below information can give you an idea of when that is likely.
As a general rule, the best deals on new cars are tied to dealership and manufacturer sales targets. Once a dealership reaches a monthly/quarterly/yearly goal they are paid a bonus for each vehicle sold during that period. If they meet these goals they will be paid at least three more times on your purchase. The closer you are to these milestones, the more likely you are to find a better deal that moves inventory faster. In order of preference, the best time to buy a car is the end of the year followed by the end of the quarter and end of the month. You can find out more about this with these links
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Best Months to Buy a Truck
October through December tends to offer the best discounts.
May through September are the other months that bring relatively better discounts.
The least discounted months to buy a car are January through April.
Best Holidays to Buy a Truck
Holiday sales events are also a great time to buy a new truck. These sales are usually linked to discounts as well as special financing and rebates. In addition to the December holiday season, Memorial Day weekend, the 4th of July, Labor Day, Veterans Day, Black Friday, and New Year's Eve often feature special sales and incentives.
The Worst Time to Buy a Truck
Avoid making a deal for that new or used truck at the beginning of the month. Just as the end of the month is the best time because sellers want to make month-end deals, they have less incentive in the early part of the month to slash prices. Another poor choice is buying at the start of a model year. Dealers typically won't offer discounts for new models, but if you want a truck from the previous model year, you might be in luck.
Similarly, don't expect good deals on vehicles in high demand or when a newly designed model comes out. If you want one, plan to pay a premium price for it. What are some of the worst holidays to buy a truck? Mother's Day, Father's Day, and Easter Sunday.
I gleaned this information from Consumer Reports, Edmunds, Truecar, and other sources.