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Why Labor Day Is the Best Time to Buy a Car

THE NEW YORK TIMES -- If you're considering buying a new car, you may want to consider buying it this weekend.

According to Juan Flores, director of vehicle valuation for Kelley Blue Book, Labor Day is traditionally the best time to buy a car. That is because manufacturers offer generous incentives on current-year models to clear them out and make room on dealer lots for vehicles from the next model year, which traditionally start arriving this month.

"If you just isolated this calendar year, Labor Day is the best time to buy," he said.

So how do this year's Labor Day deals compare with past ones?

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Submitted Sep 05, 2010 By: Lou08

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lgppa Champion Author Pennsylvania Posts:11,530 Points:496,235 Joined:Sep 2010	Message Posted: Oct 15, 2010 4:46:13 PM Ignore lgppa Report Abuse With the economy the way it is and so many dealers gone out of business, things are probably not what they used to be.
NekoSJG Champion Author San Jose Posts:3,235 Points:571,030 Joined:Jun 2010	Message Posted: Sep 6, 2010 11:17:00 PM Ignore NekoSJG Report Abuse Discounts should be even greater since depreciation is higher for older models sold as new.
OHMS Champion Author Orange County Posts:10,798 Points:1,250,520 Joined:May 2005	Message Posted: Sep 6, 2010 4:01:20 PM Ignore OHMS Report Abuse So many different opinions; and this is just one site topic.
remay Champion Author Houston Posts:4,701 Points:1,655,795 Joined:May 2006	Message Posted: Sep 6, 2010 12:19:58 PM Ignore remay Report Abuse "...buy a 2010 model, you should keep in mind that you are buying a year-old vehicle and are thus taking on that additional depreciation..." Good point. Plus, you might not be able to find just the right vehicle (options, etc).
PathfinderSC Champion Author South Carolina Posts:7,170 Points:1,366,955 Joined:Mar 2008	Message Posted: Sep 6, 2010 11:08:32 AM Ignore PathfinderSC Report Abuse If they would bring the price of cars in line with what people makes, People would buy more cars. They to busy adding some little thing to cars that most don't use and running the price up a thousands dollars
Goatroper Champion Author Dallas Posts:4,678 Points:912,545 Joined:Apr 2004	Message Posted: Sep 6, 2010 9:12:20 AM Ignore Goatroper Report Abuse After the new model year cars come out, you can usually get a great deal on last year's model. In all aspects a new car, but will cost less.
Dennis783 Champion Author Wisconsin Posts:11,274 Points:2,248,060 Joined:Sep 2005	Message Posted: Sep 6, 2010 8:57:19 AM Ignore Dennis783 Report Abuse I'm holding onto mine a bit longer than I normally would this time
ERO Champion Author Milwaukee Posts:19,082 Points:3,216,060 Joined:Feb 2003	Message Posted: Sep 6, 2010 8:34:39 AM Ignore ERO Report Abuse I agree with all to hold off until late December.
BBopp Champion Author Dayton Posts:5,040 Points:1,596,020 Joined:Dec 2006	Message Posted: Sep 6, 2010 8:10:47 AM Ignore BBopp Report Abuse I like the 0% financing, but you still need to make the payments. I bet the Repo people are having a busy time of it, and by the looks of our unemployment & under employment rates they will continue to rake in the money.
ArmydudeNC Champion Author North Carolina Posts:5,786 Points:912,475 Joined:Jul 2009	Message Posted: Sep 6, 2010 6:52:13 AM Ignore ArmydudeNC Report Abuse In this economy? You're kidding right? If you don't have cash on hand don't do it.
SAVEITIL Champion Author Chicago Posts:2,940 Points:703,615 Joined:May 2009	Message Posted: Sep 6, 2010 3:28:31 AM Ignore SAVEITIL Report Abuse Buy used
Amplion Champion Author Oregon Posts:4,242 Points:1,398,535 Joined:Sep 2005	Message Posted: Sep 6, 2010 1:55:51 AM Ignore Amplion Report Abuse YOU WILL GET A BETTER DEAL ON A CONVERTIBLE IN LATE DEC.
Vette1967 Champion Author Albany Posts:3,659 Points:816,925 Joined:Jun 2009	Message Posted: Sep 6, 2010 1:28:58 AM Ignore Vette1967 Report Abuse The best time to buy is when one can afford to pay cash.
UseLessGasFolks Champion Author Iowa Posts:3,103 Points:837,980 Joined:Jul 2007	Message Posted: Sep 6, 2010 1:09:26 AM Ignore UseLessGasFolks Report Abuse I would like to get a new Prius but I'm just not sure how secure my job is right now.
Huskersed All-Star Author Atlanta Posts:703 Points:337,950 Joined:Nov 2008	Message Posted: Sep 6, 2010 12:34:20 AM Ignore Huskersed Report Abuse About two months too late. Will keep that in mind next time in the new car market.
52MPG Champion Author Dayton Posts:4,914 Points:1,278,480 Joined:Apr 2006	Message Posted: Sep 6, 2010 12:24:25 AM Ignore 52MPG Report Abuse The best time to buy a car is being trumped by the economic realities of uncertainty.
NHLiveFree Champion Author New Hampshire Posts:7,217 Points:1,171,310 Joined:Jun 2008	Message Posted: Sep 6, 2010 12:03:02 AM Ignore NHLiveFree Report Abuse NO WAY! The best time is during December and especially at the end of the month. The dealers will still have inventory of the past year models and always try to minimize carryover to the new fiscal and tax year.
Bussman Champion Author Dallas Posts:3,868 Points:992,655 Joined:Nov 2008	Message Posted: Sep 5, 2010 10:24:47 PM Ignore Bussman Report Abuse I agree with ipm1.
amerk73 Champion Author Dallas Posts:4,714 Points:1,156,310 Joined:Oct 2008	Message Posted: Sep 5, 2010 9:24:58 PM Ignore amerk73 Report Abuse this not true
ipm1 Veteran Author Las Vegas Posts:464 Points:190,645 Joined:Oct 2009	Message Posted: Sep 5, 2010 9:24:36 PM Ignore ipm1 Report Abuse I disagree. I think the best time to buy a car (from a dealer) is the last week of the year.
BMW2014 Champion Author Toronto Posts:1,794 Points:364,300 Joined:Jun 2010	Message Posted: Sep 5, 2010 9:10:18 PM Ignore BMW2014 Report Abuse Could be true? or Not.
vamike Champion Author Virginia Posts:3,540 Points:931,595 Joined:Dec 2008	Message Posted: Sep 5, 2010 8:43:14 PM Ignore vamike Report Abuse If you can afford one, that is.
alterman156 Champion Author New York Posts:5,090 Points:1,091,100 Joined:Dec 2008	Message Posted: Sep 5, 2010 8:20:52 PM Ignore alterman156 Report Abuse There are some models that were redesigned for the 2010 model year.
ncomet1 Champion Author Michigan Posts:1,289 Points:408,780 Joined:Nov 2009	Message Posted: Sep 5, 2010 8:13:27 PM Ignore ncomet1 Report Abuse Seems like the vehicles I would like to buy are out of 2010's, so no incentives for the 2011 models yet.
justinoles Champion Author Orlando Posts:2,258 Points:553,035 Joined:Jul 2009	Message Posted: Sep 5, 2010 8:06:42 PM Ignore justinoles Report Abuse That is if you want a new car that is old.
graceman Champion Author Baltimore Posts:3,230 Points:819,140 Joined:Jun 2008	Message Posted: Sep 5, 2010 7:59:56 PM Ignore graceman Report Abuse There are still too many people out of work!
POLELANE Champion Author Ohio Posts:7,148 Points:828,370 Joined:Mar 2008	Message Posted: Sep 5, 2010 6:36:49 PM Ignore POLELANE Report Abuse don't have to concern yourselves with the models that have been discontinued.
PeteOhki Veteran Author Honolulu Posts:309 Points:307,375 Joined:Mar 2010	Message Posted: Sep 5, 2010 6:09:23 PM Ignore PeteOhki Report Abuse Well, after that article stating that "Cash for Clunkers" boost in purchase was washed out by the following decline in purchases, maybe this annual surge may bring things back on track. We can only hope. I did not like the 2010 Accords. I hope the 2010 look better.
Hilsgal Sophomore Author Utah Posts:229 Points:236,890 Joined:Oct 2006	Message Posted: Sep 5, 2010 6:04:00 PM Ignore Hilsgal Report Abuse Not any better or worse than the last years.
BUSMAN1105 All-Star Author Atlanta Posts:918 Points:744,025 Joined:Aug 2008	Message Posted: Sep 5, 2010 5:53:50 PM Ignore BUSMAN1105 Report Abuse I HOPE THEY ARE REAL GOOD THIS YEAR.