Have you and your family thought about getting a new car lately? Cars are super cool, aren’t they? Whether they’re zipping us to school, heading to grandma’s house, or taking us on summer adventures, cars make life easier and way more fun. But getting a car isn’t the same as picking your favorite candy. Cars are expensive, so families need to think carefully about when to buy one to get the best deal.F
You’re about to learn everything there is to know about WHEN to shop for cars, how much money you might need upfront for a car (that’s called a down payment), why having a good credit score matters, and loads of other neat stuff. We’ll even throw in some fun facts along the way. Buckle up because we’re about to hit the road on a car-buying adventure!
The Best Time of Year to Buy a Car
Just like there’s the perfect time to eat ice cream (on a hot summer day!) or the best time to get school supplies (right before school starts), there’s also the BEST time to buy a car. Depending on the time of year, you could save a ton of money—or miss out on great deals. But when exactly is the best time to shop? Here’s a breakdown!
1. End of the Year — November and December
The end of the year is like the Grand Championship of car shopping! If your family wants to buy a car, November and December are some of the best months to go browsing for deals.
Why? Because car dealerships want to meet their year-end goals. These goals are kind of like a race. If they sell enough cars by the end of the year, they might win prizes from the car companies, like bonuses or trophies. To meet those goals, they’re willing to lower prices and offer great discounts to make sure people drive cars off the lot. It’s like getting a giant sale on your birthday presents!
Pro tip? Try car shopping during the last week of December. Dealerships are in super-competitive mode to hit their numbers before the New Year, so they’ll make you an extra sweet deal.
2. The End of the Month
If it’s not November or December, you should aim to shop at the end of any month. Why? Because dealerships also have monthly goals!
Imagine a basketball player trying to beat a buzzer. They’ll do anything to make that final shot to win the game. Similarly, dealerships will often offer you bigger discounts at the end of the month when they’re trying hard to score sales.
For example, if it’s June 28th (just a couple of days before the month ends), families may find it’s easier to negotiate the price down. That’s a fancy way of saying, “Hey, we’ll buy it, but only if you sell it to us for less!”
3. Holiday Weekends
Ever notice how during holidays stores put up huge signs that say “SALE” and “DISCOUNTS”? Well, car dealerships do the same thing! Holidays like Presidents’ Day, Labor Day, and Memorial Day are great times to go car shopping.
On special holiday weekends, dealerships offer special promotions. You might see banners that say things like, “$1,000 OFF THIS WEEKEND ONLY!” or “FREE UPGRADES INCLUDED!” These deals can make it easier for your family to afford a car or get cool extra features, like a fancy music system.
Fun fact—Black Friday, the day after Thanksgiving, is also becoming popular for car deals. Imagine shopping for a car the same way people shop for TVs and toys on Black Friday. It’s like a shopping spree for grown-ups!
4. Fall Months – September and October
Fall is the season when car companies roll out their newest models! Sometimes they even call new cars the “next year’s cars.” For example, in October 2023, dealers might start selling fancy 2024 model cars.
To make space for those shiny new rides, they offer deals to get rid of older models still on the lot. These older models (called previous year models) are brand new but sell for way less money. It’s kind of like getting last year’s sneakers at a discount—they’re still awesome, but now they’re cheaper.
5. Pick a Weekday, Not the Weekend
Most people go to car lots on the weekend because it fits their busy schedules. But guess what? Weekdays, especially Tuesdays or Wednesdays, are quieter.
Why does this matter? When dealerships aren’t busy, the car salespeople can focus on YOUR family. They’ll spend more time answering questions, explaining features, and negotiating deals. It’s like having the entire toy store all to yourself!
How to Get the Best Deal Anytime
Timing is important, but there are other tricks to saving money when buying a car. It’s not about rushing to make a deal—it’s about being smart!
Do Some Research
Before your family steps into a car dealership, do some detective work. Look up car prices online to see what cars usually cost. Use websites where you can compare deals. It’s like reading reviews about video games to make sure you’re picking the best one.
Be Patient
Imagine you’re at the carnival, and the game host says, “Hurry! You could win this prize if you play NOW!” It sounds exciting, but sometimes it’s just a trick. Car dealerships might try to make buyers feel rushed into making a decision.
The secret? Take your time! If one dealership doesn’t offer a good deal, you’ll find another one that will.
Do I Need a Down Payment?
When you buy something big, like a car, a down payment usually makes things easier. But first, what IS a down payment?
A down payment is like paying a small part of something upfront and promising to pay the rest over time.
For example, imagine you want to buy an electric scooter for $200. You might give the seller $50 right away as a promise, and then pay the remaining $150 a little at a time (like $10 every week). That first $50 is your down payment.
Why Are Down Payments Important?
When it comes to cars, down payments are super helpful because they make the total amount you owe smaller.
Here’s an example. If your family is buying a car that costs $20,000 and makes a down payment of $4,000, they only owe $16,000. That’s way less money to worry about!
It’s like starting a race with a huge head start—less work to finish later.
Can You Buy a Car Without a Down Payment?
Yes, it’s possible to buy cars with no down payment. Some car dealerships offer special deals called “Zero Down” offers, where families don’t pay anything upfront.
BUT there’s a catch. If your family doesn’t make a down payment, the dealership will usually add a little extra cost to the monthly payments (this is called interest). Over time, it can make the car more expensive.
Whenever possible, it’s better to save up for a down payment—it’s like chipping away at the cost before it even starts!
What Credit Score Would I Need?
Credit scores might sound like math homework, but it’s much simpler than you think!
What Is a Credit Score?
A credit score is like a grown-up’s report card, but instead of grades for homework, they get graded on how good they are at paying their bills, loans, and other expenses.
Imagine if you borrowed someone’s soccer ball and promised to give it back next week. If you return it right on time, you’d get a gold star! But if you lose the soccer ball or return it late, you might not get as many stars.
Adults get higher credit scores (gold stars) when they pay their bills on time, and lower scores if they’re late or forget to pay.
Why Does This Matter for Cars?
Most families don’t have all the money needed to buy a car upfront, so they borrow some of the money through something called a loan. Banks or dealerships lend the money for the car, but before they do, they check the family’s credit score.
A high credit score means the family is trustworthy, like someone who’s great at returning soccer balls. This means banks will lend them the money at a lower interest rate (remember, that’s the extra money paid back when borrowing). A low credit score means the loan may cost more.
How High Should a Credit Score Be?
Most car dealerships prefer scores of about 650 or higher for the best deals. But don’t worry—there are options for people with lower credit scores, too. They might just have to pay a little more over time.
Fun tip? Encourage your parents to always pay their bills on time—it’s like getting an A in money management!
Fun Facts About Cars
Want to learn some fun car trivia?
- The very first cars didn’t have steering wheels—they used levers, like a video game!
- The fastest speeding fine EVER was given to a driver in Sweden for going 180 mph in 2002.
- A car is made up of around 30,000 parts—that’s a lot of pieces working together!
Final Thoughts
Buying a car is a big decision, but it can also be super fun when you know what to look for. Whether it’s shopping during end-of-year sales, making a down payment, or keeping a good credit score, planning ahead helps families save big money.
Just remember, patience and research are the keys to finding the perfect car at the perfect price. And who knows—maybe one day YOU’LL buy your first car using these tips!
Time to rev up those engines and drive into an exciting car-buying adventure. Vroom vroom!
