Well, folks, it’s August. And not only is it August, but the days are creeping towards the end of this rich, balmy, month, and that can mean different things to different people. In the Northern Hemisphere at least, this time of year indicates the end of vacation days, the start of the academic year. The summer fruit are being harvested, and the kids are getting ready to go back to school. Some will look forward to the relief of long, humid days, while others might lament the slow closing of the season. It’s a mixed bag, people!
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But here at eTags, though we also experience the multi-faceted nature of the seasons, you know we’re mostly car- focused. So whatever August brings to the general population, we will mostly see this time and transition through our automotive lens. And actually, even if August strikes people as bittersweet, we’ve got some pretty excellent news about this month. Because guess what…
August happens to be one of the best times of the year to purchase a car.
Yep, you read that right. It’s not just the month of December or the scattered holiday sales events that dot the calendars of American folks. The end of summer marks the start of a secret (or not so secret) boost in car discounts, sales, trade-ins, and the like. How, and why, you ask? Well, we’ll tell you.
Vehicle manufacturers tend to start rolling out their new car, truck, and SUV models beginning in September. While some might release a new ride at any point in the year, Autumn is when the bulk of the new models hit the showroom floors and dealership lots.
This, of course, means that dealerships have to make room for the shiny new sets of four wheels about to grace their businesses. And because there’s rarely (if ever) such a thing as a “backroom” for cars, they can’t just move the older models into storage. They’ve got to sell, sell, sell.
And this is where it gets good for the customer. No matter what kind of vehicle you’re in the market for, August could possibly be your best friend. End-of-summer clearance events can often affect not only new cars, but certified pre-owned (CPO) vehicles as well. So whether you’re about to drop some change on a fancy new ride, or if you’re more budget-minded, both of these options will likely have significant discounts applied to them.
There is a pretty significant list of benefits to going car shopping in August. Interestingly, many of the points are related; one factor affects the other and so forth. But rather than have you try and piece together all the elements, we want to save you some time. You guessed it: we’re going to break them down for you here:
First, of course, is the dealerships’ need to clear their inventory. This means discounts on current year model vehicles. Because they are given a quota of sales that they must meet before their quarter ends, this puts even more pressure on them to get their stock moving. This means that in addition to lower sticker prices, dealers are more open to negotiation.
You may well have more leverage when discussing factors like warranties, service packages, and -if it applies to you- trade-in values.
For the top ten best car deals for August of 2024, check out Kelley Blue Book’s list of this month’s incentivized models.
And it’s not just the dealerships that are offering incentives to clear their stash. Manufacturers are in on the game as well. They often will offer deals such as cash rebates, very low financing options, and stellar leasing deals. These promotions can result in pretty hefty discounts, possibly saving you thousands on a new car. Thousands? Yes, friends…thousands!
In addition to dealer and manufacturer deals, August is also a prime time to upgrade your car by way of trade-in. Because of the arrival of new models, dealerships tend to be seeking quality used vehicles. Which, as you probably know, can help lower the cost of the new car you’ve been eyeing.
While it may now seem obvious at this point that August is ideal for buying a new ride, part of the reason that it is excellent, is that most folks are too distracted with other life obligations to pay attention to this boon. With parents busying themselves getting their kids back to school, with people recovering from long summer days and vacations, and with focus generally turned elsewhere, dealerships tend to see quieter sales days at the end of this season.
Which means….get thee to a dealership!
If sellers are not selling as much as they normally do, and then you come sauntering into the showroom, ready to buy, chances are that seller is going to be much more willing to haggle with you on prices and perks. The less busy a dealership, the more desperate they are to move stock.
The cool thing about August car-buying is that the dealership inclination to hand over deals to their customers applies across the board. This magnanimity applies to generous trade-in levels, discounted CPOs, incentivized current year models, and early access to the new-year styles coming in.
There also tends to be more selection in all categories of cars, trucks, and SUVs now.
Meaning, if you were on the hunt for particular colors, styles, or trims for your new ride, you’ll be more likely to find these things in August. Details that may not have been easy to find earlier in the year can suddenly be attained with simply asking for them now.
Another fabulous advantage of vehicle shopping at summer’s end, is that occasionally, manufacturers will drop a last-minute additions to the current year model. This looks like the offer of cars with cool, unique features and upgrades that just weren’t available previously. These special editions can be really exciting for collectors and afficionados.
Regardless of what type of vehicle has you scouring the market, August can be your best friend. Which, for folks who are lamenting the close of their favorite season, can give them something substantial to smile about for once. So, happy hunting!
