Yes, There Is a Best Time of Year to Buy a New Car

You can save thousands of dollars on a new car by buying at the right time of year.

Typically, the best time to shop for a new car is when the new version of that same vehicle is about to go on sale, so dealerships will want to clear space for the new models. The closer you get to the new model’s arrival date, the more you can save on older models, said Lori Wittman, president of retail solutions for Cox Automotive.

“Savvy buyers who time their purchases around redesign releases, year-end clearances, tax season or other demand shifts can secure substantial savings,” said Zach Klempf, chief executive of Selly Automotive, a San Francisco-based software company.

This guide explains which weeks to mark on your calendar if you’re shopping for discounts on a car, and why these strategies hold true year after year.

What are the best months to start car shopping?
When are the best times of year to get a deal on a car?
What are the best months for buying electric vehicles (EV)?
If there is one best day of the year to buy a car…

What are the best months to start car shopping?

If buying the latest model or a specific color or trim isn’t a top concern, start car shopping in August.

Car buying is not unlike buying an iPhone: When new iPhones are released, old models will drop in price. Cars take up a lot more space than an iPhone, though, so dealerships tend to start discounting in the summer—a few months before new models arrive—to clear out inventory.

“Traditionally, automakers retool their factories for the new models in the summer, so that makes August, September and October a good time to shop for an earlier model,” said Wittman.

Look for cash-back programs and other incentives as manufacturers start clearing out their inventory, said Klempf.

“We’re currently seeing incentives return with strong interest rates and deep discounts on 2023 inventory,” said Wittman.

Start paying attention in the fall, from September to December. New models are typically released in the fall of the preceding year, with 2024 models announced in the fall 2023 and start arriving in October. For new car models released in the fall, dealerships will typically have units on-hand for same-day delivery.

When are the best times of year to get a deal on a car?

Big holiday “sales” at dealerships—think Memorial Day and Labor Day—are more of a marketing gimmick than an actual chance for deep discounts, according to Nathan MacAlpine, the founder of CarMate, a Los Angeles-based car brokership.

For used cars, MacAlpine said tax season, from early April to early May, is a sweet spot for buyers. When people get their tax refund back in the spring, a lot of them go car shopping. Dealerships compete for customers by offering deals.

“Just after tax time, I always find it’s busy on my end of selling cars, which means there are more discounts,” said MacAlpine.

What are the best months for buying electric vehicles (EV)?

EV sales are seasonal, too. The months leading up to the end of the year tend to be a popular time for EV buyers who want to take advantage of tax benefits before they expire, said Klempf.

Next year, this will be less of a problem: EV buyers will get up to $7,500 off the purchase right at the dealership, rather than wait months until filing their tax return to get the credit.

If there is one best day of the year to buy a car…

To time your car purchase for maximum savings, Cox Automotive’s Wittman recommends marking some dates on your calendar.

“The end of the month, the end of a quarter or the end of the year are also good times to find deals on both new and used cars,” said Wittman. Salespeople are under pressure to hit sales quotas at those times to earn bonuses for high sales volume, and they’re more likely to offer discounts to get deals done.

“My personal favorite time to buy a car is on the last day of a calendar year, in the evening,” said Klempf of Selly Automotive.

He personally helped family members secure end-of-year deals on Toyota vehicles, such as a gold-colored Camry, a hue that wasn’t in high demand. “We managed to negotiate a discount of nearly 20% on the car,” he said of the purchase, which was made near close of business in December. The dealership explicitly told them that they were striving to hit their sales quota.

Australia’s wealthiest donors are becoming more strategic, more ambitious and increasingly focused on creating measurable impact, according to Sydney Children’s Hospitals Foundation chief executive Kristina Keneally.

Speaking after the 2026 Gold Dinner, held last week in Sydney, Keneally said Australia was experiencing a significant shift in how major philanthropy is viewed, with large-scale giving increasingly part of conversations about leadership, legacy and social impact.

The annual Gold Dinner, now in its 29th year, brought together some of the country’s most influential business leaders, philanthropists and cultural figures, raising $75.5 million and counting in support of the Sydney Children’s Hospitals Network.

While the event has become one of Australia’s most prestigious fundraising gatherings, Keneally said its significance extends far beyond a single evening.

“Gold Dinner, the flagship event of Sydney Children’s Hospitals Foundation, represents far more than a single evening. It is a powerful demonstration of what a committed community can achieve together over 12 months,” she said.

“The strength of that community, and the trust built over nearly three decades, means people return not just for the event, but for the impact they know it delivers.”

A NEW ERA OF PHILANTHROPY

Large-scale philanthropy has long been a feature of American society, where charitable foundations and major donors often play a prominent role in funding medical research, education and social programs.

Keneally believes Australia is moving in a similar direction.

“Australia is building a stronger culture of large-scale philanthropy, but it is still evolving compared to the United States, where giving at scale is more deeply embedded and widely recognised,” she said.

She said the country’s philanthropic landscape was becoming more sophisticated as successful business leaders increasingly sought opportunities to create meaningful change through their giving.

“In Australia, while generosity has always been strong, large-scale giving has historically been less visible, but that is changing rapidly as more leaders embrace philanthropy as a powerful way to drive meaningful outcomes.”

According to Keneally, events such as the Gold Dinner are helping reshape public perceptions of philanthropy by demonstrating the tangible outcomes that major donations can achieve.

“Gold Dinner is helping to reshape how philanthropy is perceived in Australia, making it more visible, more aspirational and more connected to real-world outcomes,” she said.

WHERE THE MONEY GOES

The funds raised through Gold Dinner support clinical care, research and innovation across the Sydney Children’s Hospitals Network.

Over the past 12 months, more than $75.5 million has been raised to help fund advanced medical equipment, innovative care models and world-leading medical research. Areas of focus include precision medicine and early diagnosis, where emerging technologies are already changing how childhood illnesses are detected and treated.

Keneally said the impact is felt directly by children and families facing some of the most difficult moments of their lives.

“For children and families, this translates into very real and immediate impact. It means faster diagnoses, earlier access to life-saving treatments, and care that is more personalised and effective,” she said.

“It also ensures hospitals are equipped not just to respond to illness, but to reimagine what care can look like, giving children the best possible chance not only to survive, but to live full, healthy lives.”

BUSINESS LEADERS BACKING CHANGE

One of the defining characteristics of Gold Dinner is the calibre of its supporters.

The event has evolved into a meeting point for influential leaders from business, culture and philanthropy, many of whom see charitable giving as an extension of their professional and personal legacy.

“It speaks to a community that is not only generous, but increasingly ambitious in how it gives, combining influence, expertise and purpose to achieve outcomes at scale,” Keneally said.

Among the major supporters of this year’s event were Presenting Partner, John-Paul Nassif Foundation; Major Partners, ABC Bullion, Shaw and Partners Financial Services and One Circular Quay by Lendlease; and Premier Partner, Range Rover, whose ongoing support reflects a shared philosophy of legacy and long-term impact.

The evening also featured performances, premium hospitality experiences and fundraising initiatives designed to encourage further support for children’s health services and research.

LOOKING BEYOND NEW HOSPITALS

With major new children’s hospital developments at Randwick and Westmead progressing, Keneally said the focus is increasingly turning towards what comes next.

“The long-term vision is to ensure every child has access to world-leading healthcare, care that continues to evolve through innovation, research and global collaboration,” she said.

The foundation’s future priorities include accelerating medical discovery, expanding access to cutting-edge treatments and helping position New South Wales as a global leader in children’s health.

Keneally said the Gold Dinner remains central to achieving those ambitions because it does more than raise money.

“Gold Dinner is critical to making that vision possible. It not only provides significant funding, but also unites a powerful network of supporters who are driving the future of philanthropy in Australia,” she said.

As Australia’s culture of philanthropy continues to mature, Keneally believes that the network will play an increasingly important role in shaping the future of healthcare for generations to come.

“The result is a community that is helping to shape the future of paediatric care, not just for today’s patients, but for generations to come.”