Out With the Old, In With the New. With New Models Hitting the Lots, August is the Time to Buy Your New Car

Ford Reports Drop In Quarterly EarningsLooking for a new car? A recent report by TrueCar, which provides pricing and information on new and used cars, shows thatAugust is still the best month to purchase a vehicle.As next year’s models start filling up the lots, August is the optimal time to find a good bargain at your local dealership. Car dealers are looking to make room for new inventory throughout the month, with car prices averaging $29,296.

According to John Krafcik, President of TrueCar, the beginning of the month is also the best time to buy, contrary to popular belief. Marketing is geared to get consumers to shop at the end of the month, but the first week is often quiet at dealerships, making it a good time to buy.

Krafcik adds that Sunday is the best day to go shopping because sales people are working to make their weekend quotas.Sunday is their last chance to hit their numbers, and prices drop to an average of $29,300 on Sundays.

Have an old car you would be willing to trade in? Trade ins can maximize your savings when going to buy a new vehicle. Due to a shortage in used cars after the recession, car dealerships are looking to replenish their used car inventory.

If you are looking to lease a car instead of buying, August still offers the best deals, with the FIAT 500 leading the way at $99 per month with $2,389 due at signing on a 24 month lease, according to Kelly Blue Book.If you’re not ready for a new car just yet, the month of December is also a great time to buy, with end of the year deals readily available. Krafcik says both August and December are good months to shop.