When exactly is the best time of year to buy a truck? Is there a certain day of the week or month to gain extra savings? Do you want a new or used truck? Because the best time to buy a used truck might be different. Let’s take a look at the best times to buy and save.
When is the best time of year to buy a truck?
First of all, it can be worth it to wait before buying a new truck or car. Waiting for the right time to save the most money possible may take a little strategy and patience, but it can be rewarding once you get those extra discounts.
According to Car And Driver, one of the best months to buy a truck is in December. Black Friday is technically in November, but it can help kick off the season of savings. Around Black Friday, dealerships and their sales staff begin looking to meet sales quotas to maximize their end of year bonuses.
Dealerships want to outperform their previous year. This means in December, it can be crunch time. In December, it’s time to move the current model year inventory to make space for new model years.
But if you missed out in December, don’t worry. January is still a great time to buy a truck as dealerships are still making way for updated models. However, toward the end of January, discounts tend to decrease. The least discounted months are between February through April.
Arnas Vasiliauskas, the Chief Innovation and Product Officer of Car Vertical shared, “There are actually 2 best times to buy a pickup truck if you are looking to save from your purchase:
- October to December. Most auto dealerships have annual quotas and starting October, they are exerting aggressive sales efforts to meet their quotas and to free up their inventory so that new models can come in. Because of this, these three months comprising the last quarter of each year is when they are most likely to offer the greatest deals for you.
- Right before a new model gets released. Since dealerships want to get their hands on newer models when they get released, it is a great time to get a truck right before a newer model because they will want to dispose of their old inventory to make way for the new ones. This is why you can possibly get the best deal there is for your truck during this time, which of course, can fall any time of the year.”
According to Edmunds, there are two more great months to buy a truck:
- May is a great time to buy a truck because of Memorial Day weekend. There are usually discounts from manufacturers and dealers, along with other incentives.
- October is a popular month for truck and car sales too. Buyers can negotiate up to 8% off of MSRP. This could be because it’s toward the end of the year, and dealers want to move more units.
The best Holidays to buy a truck
Along with Memorial Day, there are a few other holidays that inspire dealers to beef up their sales by providing better closeout deals.
The 4th of July: Around the 4th of July, toward the end of summer, dealers get to see incoming trucks. They can determine which trucks they want to move to create space for new model years.
Labor Day: Labor Day weekend is a great time to strike. There could be a larger variety of trucks to choose between. You might save more in December, but in September, there might be better inventory. Veterans day is another great time.
New Year’s Eve/Day: Skip the partying and buy a truck instead. New Year’s Eve is the last day of the year for dealerships to make their annual quotas.
The best time of year to buy a used truck
There are also certain times where you can find better deals on used trucks. For example, according to the U.S. News, you can save on a used truck once a new model drops. For example, when the 2021 Jeep Gladiator arrived at dealerships, prices for the 2020 models dropped.
Around the time of local auto shows. If your city has an auto show, people will see new truck models and want to trade their current truck in.
Go in the winter. When it’s cold outside, it can take more motivation for people to bundle up and test drive a used truck. Used truck prices may be cheaper during the winter due to decreased demand.
You can save on a used truck toward the end of the month, quarter, or year. The last week or day of the month or quarter is a good time to negotiate deals. This is when sales members try to meet quotas. They may offer a larger discount, a better deal on a truck loan, and more to reach their goals.