If you're in the market to buy a car, experts say December is the month to do it. Car shoppers currently have the upper hand as dealerships and lenders compete to close out the year strong.
Karl Albright, the general manager of National City Auto Center, says there are numerous opportunities for buyers to secure better deals right now.
"There are a lot of specials going on. We've got banks fighting for their financing because everyone wants to close out the year strong. Dealers want to close out all their incentives and get everything done because whatever you don't use by the end of the year, it's a new budget next year," Albright said.
However, getting the best price requires preparation before stepping onto the dealership lot. Shoppers should know what type of car they're looking for, research pricing, and establish a clear budget.
According to data from Kelley Blue Book, the average new car sold for just under $50,000 in October. This high price point has driven more shoppers to used-car lots, where the average used-car listing sat at just under $26,000.
Albright says his sales reflect this trend, with more customers browsing used car inventory.
"75% of my inventory is less than $20,000. That's what everyone is looking for, so we buy what we sell and we sell what we buy," Albright said.
Shoppers should also ask about available discounts, as most dealerships offer special pricing for military personnel and first responders.
"If you don't ask, they're not going to give it to you. I mean, if you don't walk up and say something, you'll never get the answer," Albright said.
However, buyers should be cautious when approving credit checks and avoid allowing too many in a short period.
"The first time you run your credit for the next 14 days, it will count as one credit hit as far as your score, and it's only a few points. It will show every bank that's seen your credit," Albright said. "Just be smart about it. Don't shop and give out your credit when you're not ready to buy. When you're ready to buy, sit down with the people and let them help you out."
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
