New Year’s Eve May Be the Best Day to Buy a Car

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Before donning funny hats and spinning noisemakers, revelers may want to make their way to their nearest car lot. Several sources indicate New Year’s Eve is the best day to buy a vehicle, as dealerships, struggling to meet sales quotas, unload old stock, and find room for newer models, are most willing to negotiate with buyers.

Some claims about the benefits of NYE shopping are dubious. One such company pushing people, via press release, to buy on the last day of the year is Complete Auto Loans, which obviously has a financial stake in car purchasing.

But there are unbiased professionals who insist that the days after Christmas promise great financing and rebate options. Alec Gutierrez, senior analyst at Kelley Blue Book, told MarketWatch last year that, “The last day of the year is going to be the day that a consumer is most likely to get the best possible value when buying a new car.”

For shoppers stuck in the office on NYE, don’t fret. Those great deals will carry over until the early part of the new year, according to Edmunds, which says dealers have a few days in January to meet their annual sales goals. Their desperation can lead to major savings; one dealer claims buyers can save up a whopping 25 percent during this sweet spot.

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