BILLINGS — As the year winds down, car dealerships gear up for their famous "year-end" sales events. If you've seen ads flashing across your TV screen or phone, you might be wondering: is now really the best time to buy a car?
According to experts, the end of the year is the perfect opportunity to snag a deal, especially on older inventory. On Monday afternoon, Heidi Dicks and her family from Powell, Wyo. came up to Montana to make a big purchase at Archie Cochran Ford, buying a used Ford Bronco Sport.
“Now was probably a better time to buy than after the first of the year because it'll be all the new 2025s on the lot, so it just seemed like the right time to come in and get a car," said Dicks.
Their guess would be correct, as dealerships tend to wait for the end of the year to push out older models to make room for the newer ones.
“November into December is a great time for a new car because going into 2025, no dealer wants to be stuck with a bunch of 2024s on the lot still," said Joshua Soares, the executive manager of GMC Billings.
Soares explained that car factories will offer increased rebates this time of year to clear those models, usually meaning discounts for consumers that reach into the thousands.
“If I have too many of something, I need to get rid of them at the end of the day, and that's what it comes down to," said Soares.
A tip for shoppers when looking for the best deals is to find the models that are the most plentiful on the lot. Soares explained that Billings dealerships have come back on inventory following years of supply chain struggles.
“The nice part about that is being able to get inventory has been fantastic because everyone remembers during COVID just prices through the roof. We didn't have enough inventory to give discounts in the first place," said Soares.
If you're planning to trade in your vehicle, December might also be a great time as dealerships tend to look for more trade-ins to prepare for the busier spring sales, which often kick off around tax season.
“I'm just hoping to get a great trade that I can sell and make a buck a little bit later," said Soares. “We're going to see interest rates keep falling, and so we're going to see a lot better vehicle affordability going into the new year.”
Consumers can also find lower insurance premiums on new vehicles due to the increase in safety features.
"A lot of that has to do with the safety features that are on the new vehicles versus the old ones," said Soares. “You're less likely to get into a wreck because you have a new vehicle, and because of that, it's less likely that the insurance companies are going to have to pay out."
However, no matter what time of year you buy or what attractive deal you find, it is always important to do your research to get the best value before making that big purchase.
“Have your want list and stick to it and you'll find you'll find it. It takes a little time, but you'll find it," said Dicks.
