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Any advice on buying a new car on Labor Day weekend?

fnord33fnord33 Member Posts: 2
edited August 2014 in Toyota

I've always bought used cars, but at the moment it looks like it's not much more to get a new one. I've been holding off on buying a new car for months because I've heard that labor day is the the time to get the best value, but comparing the numbers on the cars I want to those from a few months ago shows that they have significantly increased. I'm looking at (in the order of my interest)
1. Toyota Corolla LE eco
2. Honda Civic HF
3. Toyota Yaris
4. Nissan Versa
5. Hyundai Elantra

all are 2014 models. none have any good incentives at the moment. I know prices are supposed to drop about 18% this weekend, but I have a few questions.

  1. Are prices better on Labor day, or is it all weekend? I'm trying to figure out if I should wait to send out for quotes.
  2. In the following weeks and months, will the prices likely stay there, go up or down? It seems like they would get more desperate to move the 2014s as the year wears on, but what I've read has led me to believe they will go up after this weekend.
  3. Would it be better to wait for better rebates and incentives?

Any advice on how to get the best deal would be greatly appreciated.
Thanks.

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Comments

  • steverstever Guest Posts: 52,454
    edited August 2014

    As a general rule, the closer to the end of the month the easier is it for a buyer to get a good deal.

    If the dealer has already made their "quota", they may be less interested in selling cars cheap at month end. And the month may be extended a day or three because of the holiday - sometimes the dealer will tell you that if you ask nicely. Different manufacturers vary on that.

    This is an exceptionally good month for car sales - hopefully the dealers you visit will be loving moving inventory and will be happier to sell closer to invoice.

    Clearance Deals Could Push Auto Sales to Biggest August Since 2003, Says Edmunds.com

    Better deals may come in September or October, but your selection will get worse as the 2015s move onto the lots.

    I think I'd go ahead and ask for quotes and indicate that you are planning to buy this weekend from the dealer that gives you the best price.

  • fnord33fnord33 Member Posts: 2

    Thanks. I'll do that.

  • kyfdxkyfdx Moderator Posts: 237,100

    Also.. the Civic has $800 of dealer cash, through September 2nd.

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