When is the Best Time to Buy a Car in Canada?

Are you planning to buy a car? Well, you might have all the finances in place, but that is not enough. Timing is of utmost importance. 

Understanding the optimal time to buy a new car can potentially save you thousands of dollars, ensure a broader selection of models, and secure a more favorable deal overall.

Therefore, you need to plan in advance and do your research about upcoming vehicle models, any recalls or discontinued models, before you hit the dealership.

Here are the best times to buy a car in Canada:

End of the Month

As the month draws to a close, dealerships might be just a few sales away from meeting their quota and earning a hefty bonus. This is where you can strike gold. Salespeople will be highly motivated to make deals, leading to discounts and attractive offers. 

However, keep in mind that if the sales team already reached their quota, the motivation to offer a screaming deal might be diminished. It's a tricky gamble, but if you're negotiating and the dealer surprises you with an incredibly low price, don't hesitate to ask why. If their reason makes sense and the price is significantly better than your research suggests, it could be a sign that they're trying to hit a sales goal.

End of the Calendar Year

December becomes a perfect storm of savings. It's the time when dealerships aim to close the year with strong sales and clear out the previous model year's inventory. The outgoing models come with generous incentives and discounts, making it an ideal time to strike a bargain. This is the month to hunt for the best deals and take advantage of the year-end sales events.

End of the Model Year

The end of summer is a sweet spot for outgoing model-year vehicles. August and September witness automakers making a decisive transition into the new models, leading to increased incentives on the outgoing models. Be sure to compare the incoming model-year cars to understand any changes in features and pricing.

End of the Car's Design Cycle or Life Cycle

When a car model is about to undergo a complete redesign, you can find significant savings on the outgoing design. While it may lack the latest styling or technology, the bargain hunter in you can benefit from the reduced prices. Similarly, when a car is being discontinued, there is potential for even bigger savings. Research the reason behind the discontinuation to ensure it aligns with your needs and preferences.

Recommended read: 12 Useful Tips for First-time Car Buyers

Best Months to Buy a Car:

While December reigns as the king of car-buying deals, there are other viable months throughout the year. The trend follows the introduction of new models, with discounts increasing as the new models coexist with the older ones. 

January through April typically have the smallest discounts off MSRP, while May through September offer better discounts. However, the most substantial savings come as you approach the end of the year, with October, November, and December taking the crown.

Best Time to Buy a Used Car:

October through December

As the peak new-car buying season hits dealerships, a wave of trade-ins floods the used car inventory. This surge in trade-ins translates into a wider selection of used cars for you to choose from, and better yet, it often leads to more competitive prices. Dealerships are motivated to hit their end-of-year quotas, making December a particularly opportune time for securing the best price on a used car. So, if you're on the lookout for a steal, these months are your golden ticket.

Timing is crucial when buying a car in Canada. Understanding the best times to buy can save you money, offer more choices, and secure a favorable deal. By planning ahead and conducting thorough research, you can confidently step into the dealership, knowing you've chosen the optimal time to buy your dream car.