‘Black Friday’ of car shopping a good time to buy your next vehicle?

Will you go shopping on Black Friday?

No, not the day after Thanksgiving, which still is several months away. But its car-shopping equivalent (according to Fortune magazine): Labor Day, which falls on Sept. 5 this year.

“Labor Day means the end of summer and one last long weekend to go car shopping,” says the “Car Negotiation Coach” at car-shopping website findthebestcarprice.com. “Car dealers are aware of this and typically offer their best car deals of the year … to entice buyers.”

082216 SCImage 1

Labor Day also follows hot on the heels of August, typically the strongest month of the year for car sales, and this year occurs during the hottest sales year since, well, last year.

Here are some reasons the website suggests may make it worthwhile to brave the crowds of shoppers:

  • A three-day weekend means people will have an extra day to go car shopping, so dealerships will ramp up their sales efforts with “events” and other promotions.
  • New models are coming out and dealerships will be running specials to sell their 2016s.
  • A lot of car shoppers visit multiple dealerships in one day, so dealers will go out of their way not to lose you to the competition during this important sales weekend.
  • Car sales people have restarted their monthly quotas and want to get a jump on September numbers in order to hit their bonus targets, especially since it’s the only holiday of the month.

And if you’re looking for four-wheel fun, dealers will be especially happy to sell you a convertible and sports car from their excess inventory because they are in lower demand during the fall and winter.

082216 SCImage3

“High-car sales periods of the year, like Labor Day weekend, are a good time to buy a new car because dealerships are looking to push current-year inventory out to make room on the lot for [new] vehicle models,” according to USNews.com. “Some manufacturers also recognize these holidays are a good opportunity to encourage more purchases, so keep a lookout for discounts or rebates.”

But shopping on Labor Day isn’t without its shortcomings, some of which were noted by boston.com.

“The deals could get sweeter towards Labor Day, but then there will be less selection,” said Jessica Caldwell of Edmunds.com. “It’s a thin line to walk and the deal might not get much better if you wait.”

Buying a car ahead of the Labor Day weekend – like the week before – can offer certain advantages, Caldwell told boston.com. That includes getting more attention from sales associates, who “might be spread thin while dealing with other customers during [the holiday weekend].”

For more on how to shop for a vehicle on Labor Day or any other time, see our five-part series, “How I would shop for a new car (or used) in five easy steps”: Part 1, Part 2, Part 3, Part 4, Part 5

And when you’re ready to buy, apply for an auto loan from Santander Consumer USA through our direct-lending unit RoadLoans.

Or ask that Santander Auto Finance be one of the lenders your dealership contacts for financing.

More Like This

Where car insurance is most expensive – and which state is No. 1
August 21, 2017

Where car insurance is most expensive – and which state is No. 1

This is a list where you don’t want to rank No. 1. Unfortunately for residents of Michigan, their state does. “For the fourth consecutive year, Michigan ‘wins’ for the most expensive state for car insurance,” writes Penny Gusner at Insure.com,…

Top Safety Picks for 2017 named by highway safety group
December 23, 2016

Top Safety Picks for 2017 named by highway safety group

There are Top Safety Picks. And then there are Top Safety Pick+ awardees, according to test results from the Insurance Institute of Highway Safety (IIHS). AND THEN, there are Top Safety Pick+ awardees with really good headlights. Only seven vehicles…

Five family vehicles that score big with soccer moms
September 21, 2016

Five family vehicles that score big with soccer moms

Soccer moms want to be cool too, right? Just because you’re carting around a small apartment on wheels full of balls, bags and water bottles, doesn’t mean you don’t want to enjoy the envious gaze of onlookers admiring your nice…