The Worst Times of the Year to Buy a New Truck
If you need a truck now, then you should go ahead and buy one. However, if you’re not urgently in need of a pickup, then it’s in your best interest to wait for a time of year when dealerships offer deals on new trucks. Not only are there times of the year when buying a new truck is a great way to save money, but there are also times when truck prices are sky-high.
Skip truck shopping in the spring
As a rule, you shouldn’t consider buying a new truck in the springtime. The dealerships aren’t worried about making room for new models so they’re perfectly content to see if anyone is willing to pay close to the full price for the trucks they currently have.
The other reason dealerships are less likely to offer special truck promotions and deals in the spring is because they know this is typically the time of year when drivers start thinking about upgrading. As temperatures rise, drivers worry about whether their current ride will hold up in the summer.
Fourth of July
The Fourth of July is one of those holidays when people consider buying a new truck. If you fall into this category, you’ll want to sit on the urge for a few weeks. Traditionally, dealerships aren’t fans of Fourth of July promotions, especially if they know you’ll use the truck for summer activities like camping or hauling a boat.
The dealerships believe that if you’re in a hurry to do these things, you won’t mind paying a higher price for a truck. As a rule, the odds of getting a good deal on a new truck are 28% lower than if you purchase your truck on a different date.
While some dealerships use sentimental holidays like Mother’s Day as an excuse to pick out a new truck or family vehicle, these “Make Mom Happy” promotions rarely result in large discounts. Nationwide, dealerships are 27.5% less likely to have a good deal on new vehicles during Mother’s Day.
Right after a new model truck arrives at the lot
Yes, it’s fun to be the first person on the block to drive the latest pickup model, but you’ll pay for the bragging rights. There is such a high demand for brand-new models that dealerships aren’t willing to haggle on the price or offer and discounts.
They may even try to undercut the amount they’ll give you on a trade-in. If you’re more concerned about saving thousands of dollars than being the envy of your peers, you’ll wait until the latest model of truck you’re lusting after has been on the market for a few months.
The best time to buy a new truck
If you’re patient enough to wait until the end of the year, you can save thousands on a new truck. The dealerships have two goals during November and December. They want to make as much money as possible, and they want to make room for next year’s models, which are already being manufactured.
This year-end desperation leads to some incredibly good promotions and special deals that can save you a ton of money. One of the best days to purchase a new truck is Black Friday.
Savvy shoppers know if they spend the late summer months comparing and test driving trucks, they’re ready to make a purchase as soon as the spectacular end-of-year sales begin.