It sure would be nice if getting the best price for a vehicle just meant wandering into a dealership at your own convenience. But there are so many factors that affect Canadian car prices, from seasonal demand to holiday sales and the inner workings of the automotive industry. Whether you need a car today or you’ve got plenty of time to plan ahead, it pays off to know how to improve your chances of getting a better price. No matter what your timeline looks like, there are factors within your control that will help you score a deal.
Below, you’ll find our top tips for determining the best times to go shopping for your next car. We’ve laid out the months of the year, days of the week, and even the time of day when you’re likely to be able to negotiate for the best price. Before you start to shop, take a look through the car buying points below to see whether any of them might help you in your negotiations.
When is the Best Time to Buy a Car?
- What is the Cheapest Month for Buying a Used Car?
- Is it Cheaper to Buy a Car at the End of the Month?
- Do Days of the Week Matter When Buying a Car?
- Are Cars Cheaper When New Models Are Released?
- How to Shop During The Big Sales at Christmas, New Year’s Eve, and Black Friday
- FAQs
What is the Cheapest Month for Buying a Used Car?
In general, the final quarter of the year—meaning October, November, and especially December—are the best months for car shopping. This is because dealerships are trying to make space for incoming new models, and they’re also looking to boost their year-end sales figures.
If you can’t wait that long, consider shopping for a car on long weekends. Family Day, Victoria Day, Canada Day, the August Civic holiday weekend, and Labor Day all might see decent sales as dealerships try to get more people through their showroom doors during traditionally quiet times.
When it comes to used cars specifically, the best time to buy is when you spot the car you want in good condition at a great price. This can happen all year long, so the best position you can be in is one where you’re not rushed and will have time to be patient and make rational decisions.
Is it Cheaper to Buy a Car at the End of the Month?
It can sometimes be cheaper to buy a car at the end of the month. This is because salespeople and dealerships typically work to sales quotas. If it gets toward the end of the month and the dealership needs to sell a few more cars to earn a monthly sales bonus from the automaker, you’re more likely to get a great car deal. To supercharge this effect, aim for the end of the quarter in March, June, September, or December. However, if sales goals have been hit for that month or that quarter, this strategy might not work.
Do Days of the Week Matter When Buying a Car?
Mondays and Tuesdays tend to be best days to visit a car dealership. These days are less busy than others, so you’ll have more of the salesperson’s attention. This will give you more opportunity to ask questions and take your time with negotiating your car purchase.
To take this even further, visit a car dealer later in the day if you’re serious about closing a deal. This gives you and the salesperson a deadline of sorts to hammer out a price before the store closes. Don’t just drop in unannounced and try this, though, or you’re more likely to end up with a salesperson who’s annoyed and less interested in helping you. Instead, make an appointment for as late in the day as you can so all sides go into the interaction with clear expectations.
Are Cars Cheaper When New Models Are Released?
There is still some price cycling when new cars are released, but the pattern is different than is used to be. Once, new models reliably showed up in the late summer and early fall, so you could reliably show up at dealership around that time and see discounts on outgoing models. However, these days this cycle takes place all year long. One new model might arrive in October, while another may show up in March.
You can still snag a deal as model years rotate, but it takes a bit more work. If you’re buying a car that won’t have significant changes from this model year to the next, find out when the next model year is expected to arrive. You’ll be able to shop for lower prices on last year’s model once new ones ship to dealers.
The other factor to consider is when your car of interest is going through a refresh or a generational change. A car’s generational life cycle typically lasts six to eight years. Be sure to research the car you’re interested in and where it currently is in its cycle. If there’s a redesigned version on the way but you don’t mind taking home the current model, you could see deep price cuts once the new models arrive and demand kicks in for the latest and greatest.
If you’re a buyer who cares about having the most recent technology and you want to be at the leading edge of a new generation’s redesign, do your best to hold off until toward the end of its first model year. This will not only save you money as deliveries of next year’s model come in, but it will also allow time for any kinks to be ironed out of the car’s new design.
If you’re shopping used vehicles, the cycle to look for is cars that are roughly three to four model years old. This age is when some of the earliest purchases will start to come off lease all at once, and plenty of inventory means lower demand and potential for great deals.
How to Shop During The Big Sales at Christmas, New Year’s Eve, and Black Friday
End-of-the-year sales events and rebates are a big deal in the automotive industry to help dealerships meet their quotas. You’ll start to hear about bigger sales around mid-November—yes, even Canada has caught on to the American concept of Black Friday—and they’ll continue through December toward the end of the calendar year. At this time of the year, cuts often go even deeper between Christmas Eve and New Year’s Eve, so that timeframe in between the holidays is a great time to shop. If you can wait until New Year’s Eve itself, this is the day when those end-of-year sales figures hang in the balance and dealerships may be willing to drop prices significantly to close a deal.
FAQs
What are some tips for negotiating the price of a car?
Before you shop for a car sale, do some research to understand the current state of the market. If there are inventory shortages demand is high, you won’t have as much room to negotiate on the MSRP as you might if a dealership has lots of new vehicles languishing on the lot. You should also go in with a firm maximum price you’re willing to pay. And make sure this is an overall price, not a monthly payment. Salespeople will often ask you’re your maximum monthly payment is to nudge you into a more expensive car model with a long auto loan period, which can cost you much more money than you realize in the long term.
If you’re buying a used car, take a look at the CarGurus.ca used car listings. Each listing includes an indicator showing whether the listed price is low, average, or high relative to the market. This can help you get comfortable with what you should expect to pay for the type of car you’re interested in buying.
What are the advantages of buying a car during the off-season in Canada?
In Canada, vehicle sales are slowest in January and February, and they slow down again in the height of the summer months. If you choose to shop for a car during these periods, you’re likely to have more cars to choose from and more opportunity to ask questions since salespeople will be less busy. Staff may also have more incentive to move cars off the lot, depending on other factors. If you’re dream is to own a convertible, you could score a serious deal by shopping in the winter when top-down driving isn’t top of mind for most buyers.
These days, SUVs are in demand all year long, so tips that suggest car buyers should seek deals during the summer months no longer apply. Instead, consider seeking out SUVs that are less in demand to have a better chance at winning a deal.
What is the worst time of year to buy a car?
The worst time of year to buy a car in Canada is from March to May and into June. This is when demand is highest, so you’ll have less leverage for negotiating a good price.