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Do you think Black Friday a good time to buy a new car? Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make better financial decisions by offering interactive financial calculators and tools as well as publishing authentic and objective content. We also allow users to conduct research and compare information for free and help you make informed financial decisions. Bankrate has agreements with issuers, including but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The products that are featured on this site come from companies that compensate us. This compensation may impact how and when products are featured on this site, including for instance, the order in which they may appear within the listing categories in the event that they are not permitted by law. This applies to our loan products, such as mortgages and home equity, and other home loan products. However, this compensation will have no impact on the content we publish or the reviews that appear on this website. We do not include the vast array of companies or financial offerings that might be accessible to you. martin-dm/Getty Images

3 minutes read. Published November 21 2022

Rae Hartley Beck Written Rae Hartley Beck Written by Contributing writer Rae Hartley Beck is a writer and editor with over an eight-year experience within personal finance. Her writing has been published in Bankrate, MoneyWise and Investopedia. Rae specializes on credit card reward as well as real estate, investing, home improvement, lending and financial advice for millennials, Gen Z, Gen Alpha and their parents. Edited by Rhys Subitch Edited by Auto loans editor Rhys has been editing and writing for Bankrate since the end of 2021. They are passionate about helping readers to manage their finances through providing clear, well-researched information that breaks down otherwise complex topics into manageable bites. The Bankrate promise

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If you have questions about money. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to give our customers the right advice and tools required to succeed throughout life’s financial journey. Bankrate adheres to strict standards standard of conduct, which means that you can be sure that our content is honest and accurate. Our award-winning editors and journalists produce honest and reliable information to assist you in making the best financial decisions. Our content produced by our editorial team is factual, objective, and not influenced from our advertising. We’re transparent about how we are in a position to provide quality information, competitive rates and helpful tools to you , by describing how we earn money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for the placement of sponsored products or services, or when you click on certain hyperlinks on our site. Therefore, this compensation may influence the manner, place and when products appear within listing categories in the event that they are not permitted by law. This is the case for our mortgage and home equity products, as well as other home loan products. Other factors, like our own rules for our website and whether a product is available within your area or at your personal credit score may also influence the way and place products are listed on this site. Although we try to offer the most diverse selection of products, Bankrate does not include specific information on every credit or financial product or service. Black Friday can be a time for great deals and savings that are particularly important due to the recent rise in inflation prices. Prices for cars have increased by 6.3 percent from the beginning of last year, and 42.5 percent between September 2022 and February 2020, according to . If you’re looking to cut costs in the near term and are able to be flexible with different brands, Black Friday can be an ideal time to purchase an automobile. Is Black Friday a good time to buy a vehicle?

Black Friday could be a good time to buy an automobile — should you be able to score a good deal on the car you’re looking for . A lot more people are looking for cars than there are available, so steep discounts will likely be hard to find.

Black Friday car deals differ according to the manufacturer. Black Friday deals on cars are generally announced at the level of the manufacturer, but local dealerships and chains with large regional presence may also run their own offers. Black Friday deals on cars typically concentrate on financing, credit and lowered prices. Financing deals , also known as financing deals, are among the most popular Black Friday car deals. They are typically offered by the company that makes the deal — Chrysler Capital, Toyota Motor Credit Corporation, Ford Motor Credit Company and the like. Frequently advertised deals include $0 down-payment, and there are no monthly payments for a long time. All financing deals are only offered on credit that is approved. In general, the better the financing deal offers, the better your credit score is to be able to qualify. The deals usually come with an equivalent dollar-off discount even if you do not go for promotional financing. If you’re planning to finance your vehicle then you might prefer to take the extra money off of the purchase price. Offers that aren’t financing-related Numerous dealerships and manufacturers will offer a set amount off the Manufacturer’s Suggested Retail Price (MSRP) on Black Friday. They may also announce that they will offer a higher amount of money for vehicles that qualify for trade-ins. The higher the value of your trade-in, the lower amount you’ll pay in sales tax on the car you purchase that can be as high as 11.45 percent, based on your city and state. Lease deals Alongside purchase deals, Black Friday car shoppers may also profit by leasing offers. If you choose to lease , you may be able to get lower monthly installments, lower amounts of money, or greater mileage limits with a Black Friday promotion. Black Friday might not be the ideal time to purchase a car. The shortage of chips that caused a huge impact on car availability is starting to slow down, but that does not mean that cars are as readily available as they were before the pandemic. The inventory of cars is still very low making it an . If you’re not sure of the exact type, model, and make that you’re after, you could have to wait for months on a waiting list. If you’re very set on the exact car you want and you have to order it and delivered to the dealership, they have no incentive to offer you an offer for Black Friday. If you can be flexible across different makes, models and styles it is possible to find better deals during Christmas or New Year’s Eve rather than Black Friday. Current car buying environment In addition to general shortages of inventory, the environment isn’t favorable when you’re planning to finance a vehicle. If you don’t have in cash, you’ll have to pay more in interest to purchase a car today than in 2021. Car buying is likely to decline, and dealers could be more motivated to reduce prices. Also, interest rates are likely to be cut to address the effects of a recession. If you don’t require an automobile, you might be able to steer clear of Black Friday car sales this year, and continue to save cash. If interest rates remain high it will be possible to save more money and cut down on the cost of financing. Prequalify before heading to the dealership if require financing for a vehicle. This will help you get a better picture of your budget and budget. Arrive with as much knowledge as possible. You might find that you qualify for attractive interest rates through an online bank or . This could give you the opportunity to negotiate for an even lower purchase price in the event that you do not have to chase after any specialty promotional financing the dealership is offering. You can quickly determine what car you can afford and and interest rates for multiple lenders by using our prequalification tool. It takes only a few minutes, and will not harm your credit score. The bottom line If you’re in need of a car quickly and you are willing to be flexible, Black Friday deals can be found. But don’t expect to find them as attractive like they were before the outbreak. If you’re patient, you may be able to find more favorable prices towards the end of the year or next year when inventory becomes more plentiful.

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Written by Contributing author Rae Hartley Beck is a writer and editor with over 8 years experience working in personal financial matters. Her writing has appeared on Bankrate, MoneyWise and Investopedia. Rae is an expert on credit card reward and real estate investing as well as home improvement, loans and financial advice for millennials, Gen Z, Gen Alpha and their parents. Edited by Rhys Subitch Edited by Auto loans editor Rhys has been editing and writing for Bankrate from late 2021. They are passionate about helping readers feel confident to take control of their finances with precise, well-researched and well-documented facts that break down otherwise complicated subjects into bite-sized pieces.

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