Senate Cents: A Financial Wellness Blog

As the year winds down, car buyers find themselves in a prime position to snag great deals. The months of November and December are widely recognized as the best times to purchase a new or used car, thanks to end-of-year sales, dealer incentives, and the added advantage of competitive USSFCU financing. Here’s why waiting until the last two months of the year can help you secure the best deal and how USSFCU can support your financing needs.

1. End-of-Year Deals: Timing is Everything

November and December are standout months for car buying, as dealerships are eager to hit their annual targets and clear out inventory for new models arriving in the new year. This push to move inventory often results in some of the biggest discounts, incentives, and rebates of the entire year.

Dealers typically work with deadlines to close out each model year, especially as new models start arriving in the fall. By November, many cars from the current model year are available at reduced prices, and by December, these discounts often deepen as dealerships aim to close strong for the year. Shopping during these months can yield steep savings on both new and gently used vehicles.

2. The Best Day of the Year to Buy a Car? December 31st

If you’re aiming to score the best possible price, December 31st is considered one of the top days of the year to buy a car. This day combines the last day of the month, quarter, and year, which means sales teams are highly motivated to meet targets and finish the year on a high note. Dealers often push to meet these end-of-year goals, leading to significant markdowns on inventory.

But while dealerships may entice buyers with lower sticker prices, financing with USSFCU offers an added advantage. USSFCU members benefit from competitive, member-centered financing rates that are often lower than what’s offered at dealerships. By securing your loan directly through USSFCU, you can avoid the pressure of dealer financing and the surprise add-ons that can sometimes inflate the total cost.

3. November and December Discounts on New and Used Cars

End-of-year deals on new cars can also create a ripple effect in the used car market. When dealerships discount new vehicles, demand for used cars tends to dip, which brings prices down on both pre-owned and certified pre-owned models. If you’re open to exploring both new and used options, this seasonal price drop is another way to save.

With USSFCU’s competitive financing options, you can secure an auto loan for either a new or used vehicle, ensuring you get the best rate regardless of the car’s age. Financing with USSFCU provides straightforward terms and flexibility, so you can make the most of the year-end savings while staying within your budget.

4. Model Year Closeouts and End-of-Cycle Discounts

November and December are also ideal for finding model year closeouts. Dealerships are keen to move last year’s models to make room for new inventory, especially when there’s been a redesign or update. For buyers who don’t mind driving a slightly older model, these discounts can result in substantial savings.

When shopping in November and December, keep an eye out for cars at the end of their model year or design cycle. For example, a car due for an update in the coming year may be available at a much lower price. Financing this type of vehicle with USSFCU means you can take advantage of these discounts without compromising on the quality of your financing plan.

5. Pre-Approval and Pre-Qualification: Your Key to Smooth Year-End Car Buying

To make the most of your holiday car shopping, consider getting pre-approved or pre-qualified with USSFCU before you start visiting dealerships. Start by visiting loans.ussfcu.org to check if you pre-qualify for an auto loan with no impact on your credit score. Pre-qualification gives you a clear sense of your budget, which makes the entire shopping process easier.

Taking the next step to secure pre-approval through USSFCU can further simplify your buying journey. Pre-approval not only provides peace of mind but also strengthens your position during negotiations, removing the need to rely on dealership financing. USSFCU’s pre-approval process is simple and transparent, allowing you to focus on finding the best car within your budget.

Key Tips for Navigating End-of-Year Car Shopping with USSFCU

To take full advantage of the holiday car-buying season, follow these steps to make your experience smooth and successful with USSFCU financing:

• Shop at the End of the Month: Dealers often provide additional discounts in the last days of the month to meet sales goals. By timing your purchase toward the end of November or December, you can increase your chances of landing a great deal.

• Aim for December 31st if Possible: If you’re looking for the best day to buy, New Year’s Eve is ideal. Dealerships are typically less crowded, and sales teams are motivated to make end-of-year deals.

• Set Your Budget with USSFCU Pre-Approval: Start your financing process with USSFCU to get a clear understanding of what you can afford. Pre-approval allows you to skip the stress of dealership financing, ensuring a smooth buying experience.

• Consider Model Year Closeouts: November and December offer excellent opportunities to find slightly older models at great prices. With USSFCU financing, you’ll have the flexibility to take advantage of these deals on outgoing models.

• Evaluate Used Car Options: With new car prices dropping, used car prices also tend to fall at the end of the year. If you’re considering a certified pre-owned or gently used car, USSFCU can provide competitive rates and flexible terms to help you secure a reliable vehicle at a great price.

The USSFCU Advantage for Year-End Car Financing

Whether you’re exploring new cars, used cars, or end-of-model-year options, financing through USSFCU gives you a trusted partner for your auto loan. By choosing USSFCU, you can enjoy competitive rates, member-centered terms, and a straightforward loan process designed to make your car-buying journey stress-free.

Ready to get started? Visit ussfcu.org/Auto to apply and gear up for a confident, hassle-free car-buying experience. November and December are the best months to find deals, and with USSFCU, you can secure the financing you need to drive into the new year with confidence. Happy holiday car shopping!

This article is for informational purposes only. All loans subject to credit approval. Rates and/or credit limits are based on creditworthiness, income and debts. Rates subject to change without notice. Not all applicants will qualify for the lowest rate.