Car buyers love to speculate on which days will be the best to buy a new car; some think you’ll get a better deal on a rainy day or by walking into the dealership 10 minutes before they close – but studies have shown that neither of these myths is true.  There is however one time you will hear is best to get a great deal and this one is almost always true; shopping for a car on the last day of the month.

The end of the month is always a good time to buy because dealers are eager to reach monthly quotas they’ve been given by the manufacturer.  Manufacturers will tell dealers they will give them $500 dollars if they sell 20 Accord models for example; which can translate into big bonuses for the dealer. This means if the dealer has sold 18 models by the last day of the month they will push harder to sell those last two models the last day and be willing to negotiate meaning you can walk away with a great deal.

December 31st will be the best day of the month to buy a new car with an average 9.3% discount off the manufacturer’s suggested retail price. Right now 2011 models are heavily discounted at dealerships as they work hard to get them off their lots and make room for incoming 2012 models.

“December is going to be the best month of 2011 to buy a car with manufacturers offering attractive year-end incentives and dealers motivated to move inventory to get their sales objectives,” said Jesse Toprak, VP of Industry Trends and Insights for TrueCar.com.

So this New Year’s Eve make sure to check out your local car dealer and see what sort of deals they might be offering or shop CarLocate.com to find the perfect vehicle for you and your family.

Happy New Year!

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