Final Days of Summer "Sweet Spot" for New Car Shoppers
SANTA MONICA, CA--Aug. 20, 2013: The coming weeks should be a sweet spot for shoppers looking for the best deals of the year on a new car, advises Edmunds.com, the premier resource for car shopping and automotive information. The reason, says Edmunds, is that dealers generally accelerate sales of 2013 model-year inventories around this time of the year to make way for 2014 models.
"Shoppers typically will find the perfect blend of discounts and selection during this late-August-to-September time period," says Edmunds.com Sr. Analyst Jessica Caldwell. "If they wait much longer, they might be able to find better discounts on a new car, but they'll find that inventory of those vehicles will be limited."
Edmunds.com's recommendation applies specifically to 2013 model year vehicles, which carry bigger discount percentages than all-new 2014 models. Last month for example, the average discount percentage on a brand new 2013 vehicle was 12.7%, compared to a discount percentage of just 7.7% for a new 2014 vehicle. As a result, Edmunds.com projects that most new cars sold through September will be 2013 models. As 2013 inventories dry up, the proportion of 2014 model-year sales will likely catch up in mid-to-late October.
But what are the very best deals available on the market right now? Edmunds.com identifies the top new car deals on its Deals of the Month page at Deal of the Month . This month's list includes the Cadillac CTS coupe, Fiat 500 C Abarth convertible, Honda Odyssey, Subaru Outback and Volkswagen Passat S.
The final weeks of summer prove that some days are better than others when it comes to getting a new car deal. For example, some veteran buyers insist that shoppers can maximize discounts early in the week or in the last days of the month. Edmunds.com examines the various philosophies behind the best days and times to buy a car at When to Buy Your Next Car .