{"id":24382,"date":"2026-04-24T22:13:59","date_gmt":"2026-04-24T22:13:59","guid":{"rendered":"https:\/\/incredipros.com\/?p=24382"},"modified":"2026-04-24T22:13:59","modified_gmt":"2026-04-24T22:13:59","slug":"the-best-time-to-buy-a-car","status":"publish","type":"post","link":"https:\/\/incredipros.com\/?p=24382","title":{"rendered":"The Best Time to Buy a Car"},"content":{"rendered":"
\n

Looking for a car? Before you set your eyes on a new-to-you ride, you may want to consider whether now is really the best time to buy a car in the first place. The demand for new and used cars has skyrocketed . . . but the supply hasn\u2019t. So, what gives? Well, for starters, microchip shortages, supply chain hiring issues, and auto factories recovering from pandemic shutdowns are just a few of the culprits.\n <\/p>\n

If you\u2019re in the market for a new car, here are a few things to consider before handing over that cashier\u2019s check.\n <\/p>\n

When Is the Best Time to Buy a Car?<\/h2>\n

Under normal circumstances, the best time to buy a car is at the end of the month and at the end of the year (when dealerships are trying to meet their monthly sales goals). But these days, what was once considered normal has gone out the window.\n <\/p>\n

\n

Get expert money advice to reach your money goals faster!<\/p>\n<\/p><\/div>\n

Sure, you could still find a great deal on a car on October 29 or December 27\u2014but just know that the game has completely changed thanks to high demand and low inventory. All of these things have cranked up the prices of new and used vehicles. Oh, and don\u2019t forget those sky-high interest rates!\n <\/p>\n

Car inventory at dealerships was up 10% in September 2022 compared to the same time the previous year. This has brought prices down slightly, but they\u2019re still pretty high.1<\/sup>\u00a0So don\u2019t walk into a dealership to buy a new (or new-to-you) car and expect to get too much money shaved off the sticker price.\n <\/p>\n

You might have better luck if you hold off until the end of the year. New cars start hitting the sale lots in the last half of the year. And if there\u2019s any old inventory, the dealership would rather sell it to you than have it taking up space on the lot.\n <\/p>\n

What Are Car Prices Like Right Now?<\/h2>\n

Car prices are breaking records and taking names. Prices have surged since the pandemic, and they just keep going up with each month that passes by.\n <\/p>\n

Average price for a new car in 2022:\u00a0<\/strong>$48,0942<\/sup>\n <\/p>\n

Average price for a used car in 2022:\u00a0<\/strong>$28,3373<\/sup>\n <\/p>\n

Ouch.\u00a0<\/em>That\u2019s a lot of cash to drop for your new ride. And that\u2019s a huge reason why now\u2019s not the best time to buy a car.\n <\/p>\n

So, why are car prices so crazy high? Let\u2019s dig into that.\n <\/p>\n

Why Are Car Prices So High?<\/h2>\n

The increase in car prices boils down to the microchip shortage\u2014you\u2019ve probably heard about that. Basically, back when COVID hit, production on these tiny computerized chips shut down. Nowadays, almost everything runs on those microchips\u2014yep, even cars. All those fancy buttons, doohickies and bright lights on the dash have to be powered up by something, and they rely on microchips to get the job done.\n <\/p>\n

Because of the microchip shortage, there are fewer new cars to buy\u2014which makes them more expensive because there\u2019s not enough supply to meet the demand. So, people are switching gears and setting their sights on used cars instead. But guess what? That\u2019s making the prices of used cars go through the roof too\u2014up 30.3% since January 2021.4 <\/sup>Womp womp.\n <\/p>\n

Yeah, it\u2019s a pretty tangled web here.\n <\/p>\n

Oh, and if you thought high prices were bad, there aren\u2019t even enough of those freakin\u2019 expensive used cars to go around!. \u00a0See, a lot of used cars on the market come from rental car companies selling cars that have barely any mileage and wear. And there\u2019s been a shortage of rental cars ever since the pandemic, when companies sold off 770,000 cars to keep their businesses up and running.5<\/sup>\n <\/p>\n

Who\u2019d have thought we\u2019d be living in a time when the value of your used car would actually\u00a0go up<\/em>? We\u2019ll just say it\u2014that\u2019s weird.\n <\/p>\n

Is Car Inflation Real?<\/h2>\n

In a word\u2014yup<\/em>. You better believe it. Car inflation is a real thing. All of these circumstances we just talked about created the perfect storm to inflate car prices like a shiny balloon at a birthday party. But the big question now is\u2014when will that balloon pop? Who knows.\n <\/p>\n

The price of cars actually impacts overall inflation\u00a0too. The Bureau of Labor Statics shows that the consumer price index (that measures inflation) hit 7.7% in October 2022.7<\/sup>\u00a0The increase in new and used cars prices is part of that big spike, pouring gasoline on the already-burning inflation fire.\n <\/p>\n

The Best Time to Buy a Car? When You Have the Cash\u00a0<\/h2>\n

At the end of the day, the best time to\u00a0buy a car\u00a0is when\u00a0you have the cash for it. Never<\/em> take out a loan to buy a car. We know\u2014that probably sounds pretty dang crazy, but car payments drain you of the money you could be putting toward your other life goals.\n <\/p>\n

With the low supply and crazy high demand, now\u2019s not the best time to buy a car. Your buying power isn\u2019t what it used to be, and dealerships know they\u2019ve got the upper hand. Not only that, but since they want to make money off of you, they\u2019ve made it harder to buy a car with cash. That\u2019s right\u2014they want to make a sale, but they want you to finance it. Why? Because that\u2019s where they make all their money.\n <\/p>\n

Don\u2019t do it. Wait until you have cash, and use your walk-away power to get a good deal.\n <\/p>\n

Plus, the interest alone on a car loan will eat you alive. Don\u2019t believe it? Try out our\u00a0auto loan calculator\u00a0to see the facts in black and white (well, the calculator\u2019s numbers are technically blue, but you get the idea).\n <\/p>\n

Let\u2019s say you borrow $20,000 for a car with a 5% interest rate and a term of five years. You\u2019d be shelling out $377 a month for your car payment, and\u00a0<\/em>on top of that, you\u2019d end up spending an extra $2,645 in interest. And that\u2019s\u00a0if<\/em>\u00a0you make all those payments on time\u2014a lot can happen in five years.\n <\/p>\n

You know what\u2019s a better idea? If you save $377 every month for two years, you\u2019d have a little over $9,000 to buy a used car outright. Boom. No car payments. No interest. You\u2019re free. Doesn\u2019t that sound a lot better than throwing away almost $400 bucks on a car payment every month? Yeah. We thought so too. In the meantime, throw just enough cash at car repairs to keep your current ride up and running until you have the funds to purchase that used car.\n <\/p>\n

But if you\u2019re seriously in the market for a new-to-you car (and there\u2019s no way to fix or repair your current vehicle), check out our Car Guide for tips on how to spot and negotiate a deal on a good used car.\n <\/p>\n

Ready to budget and save for that car? Give our free budgeting app, EveryDollar, a spin. It makes it easier to stash away money for any big purchase\u2014and it’s free. Start budgeting. Start saving. Soon you’ll be driving that car without<\/em> the hassle of car payments and interest rates.\n <\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Looking for a car? Before you set your eyes on a new-to-you ride, you may want to consider whether now is really the best time to buy a car in the first place. The demand for new and used cars has skyrocketed . . . but the supply hasn\u2019t. So, what gives? Well, for starters,<\/p>\n","protected":false},"author":1,"featured_media":24383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[],"class_list":{"0":"post-24382","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"\nThe Best Time to Buy a Car | IncrediPros<\/title>\n<meta name=\"description\" content=\"Looking for a car? 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