New-car deals are still out there.
Most experts will tell you not to shop for a vehicle on weekends, but let’s be honest, that’s when many of us have the most time.
So if you are planning on shopping for a new car, there are still some simple ways to get a great car at a relatively low price, with a little work. It’s all supply and demand.
Then, find the cars in that segment that aren’t selling. The trade publication Automotive News and some websites, such as Cars.com, list inventory levels and count the days’ supply of each car – the number of days it would take at the current sales rate to sell everything on dealer lots.
Look for cars that you like with high days’ supply.
About 60 days is optimal to have the right selection of models, but many cars are above that. Those are the ones that likely will have big discounts, either from the automaker or the dealership or both.
Dealers borrow money to finance their inventories, so they are anxious to move them to unload the interest payments, especially on vehicles that have been sitting on the lot for a long time.
As a vehicle sits there for 30, 60, 90, 100 days-plus, every additional day that vehicle sits on their lot, they have to pay for it, says Alec Gutierrez, a senior market analyst at Kelley Blue Book.