The Best time to buy a used or new car
When is the best time to buy a new or used car? It’s a good question that many buyers ask in search of the best deal possible. However, there isn’t just a best time to buy a car. As you’ll soon see, there are lots of different times throughout the year. These coincide with the launch of new registration plates, the release of new models, manufacturer discounts, quarterly sales targets, and quieter periods for dealerships. We’ll go through each one in more detail and give you those all-important dates that are the best time of year to buy a car.
New registration discounts
The latest number plates in the UK are launched in March and September, every year. Unsurprisingly, these are busy months with an increase of car sales for dealerships.
Leading up to these two months, many dealerships will run offers for the new plates to help build on strong sales. These are typically available a month or two in advance, and usually consist of things like free insurance, 0% finance deals, or additional equipment.
Right before new number plates are introduced
For used car buyers, right before new number plates are introduced is a great time to find deals. During these months, dealerships will try to shift older stock for the new arrivals. That means in the months of February and August, you’ll likely find discounts, as well as dealers who are more open to negotiations.
After new number plates are introduced
Following the release of new number plates in March and September, lots of car buyers trade in their old vehicle to help cover the cost of a new one. This means dealerships will get a lot of second-hand cars that they’ll want to shift. And that’s a good thing for anyone looking to buy a used vehicle, as there’ll likely be good offers available for pre-owned cars towards the end of March and September.
New model launch discounts
Manufacturers are obviously aware of the increased car sales in March and September, following the introduction of new number plates. This means you’ll often see new model releases around then too.
And as new car models come in, dealers have to make room on the forecourt. That means older, outgoing models are often heavily discounted and incentivised to create space for the new car releases. If you don’t mind driving a vehicle that’s not the latest, do some research into the specific car you want to buy and see if it has an updated or facelifted model that’s soon to be on sale. If there is, you should be able to find a discount for that specific make and model.
Manufacturer car discounts
Manufacturers offer discounts on their new stock too, with some providing 0% finance deals and fairly hefty deposit contributions. If a manufacturer produces more cars than it can sell, they may also provide a discount for a limited time to help increase sales.
To take advantage of such car deals, you’ll need to do some research into the vehicle you’re looking to buy. Whether that’s an Audi A6, a BMW 5 Series, or a Mercedes-Benz E-Class, it’s a good plan to look at a selection of cars to find the best deals going.
End of quarter target discounts
Lots of dealerships have sales targets to meet every quarter. That means a higher chance of discounts in the final weeks of March, June, September, and December in order to increase sales to meet those targets. At the very least, if they’ve not hit their targets, they’ll be more favourable to Negotiate a Better Car Deal.
Shop during quiet periods
When dealerships have extended quiet periods, they often provide discounts to maintain sales. They can be more open to Negotiating a Car Deal too. Naturally, such periods can be the best time to buy a new or used car. But when are these quiet times? Look to the months of:
- December and January, in particular the weeks of Christmas and New Year. During this time, most consumers focus their money on the festivities, not buying a car.
- February and August are good times too. Why? Because lots of car buyers wait these months out, choosing to buy a new vehicle with new registration plates, which are released in March and September.
Another top tip: if you can visit a dealership midweek when they’re quieter, you’ll likely have the salesperson’s undivided attention. And that means they’ll be more attentive to you and more likely to negotiate a better car deal.
