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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 choices by offering interactive tools and financial calculators as well as publishing authentic and objective content. This allows you to conduct your own research and compare information for free and help you make informed financial decisions. Bankrate has agreements with issuers, including but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The offers that appear on this site are from companies that compensate us. This compensation could affect how and where products appear on this site, including for instance, the sequence in which they be listed within the categories of listing and other categories, unless prohibited by law. This applies to our mortgage, home equity, and other products for home loans. This compensation, however, does have no impact on the content we publish or the reviews that appear on this website. We do not cover the entire universe of businesses or financial deals that could be available to you. martin-dm/Getty Images

3 minutes read. Published November 21 2022

Written by Rae Hartley Beck Written by Contributing writer Rae Hartley Beck is a editor and writer who has more than eight years of experience in personal finance. Her writing has recently been featured in Bankrate, MoneyWise and Investopedia. Rae is a specialist in credit card rewards and investing, real estate and home improvement, lending and financial guidance for millennials Gen Z, Gen Alpha and their parents. Written by Rhys Subitch Edited by Auto loans editor Rhys has been writing and editing for Bankrate since the end of 2021. They are passionate about helping readers feel confident to control their finances by providing clear, well-researched information that breaks down complicated topics into bite-sized pieces. The Bankrate promise

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If you have questions about money. Bankrate has answers. Our experts have been helping you manage your finances for more than four decades. We are constantly striving to provide consumers with the expert guidance and the tools necessary to make it through life’s financial journey. Bankrate adheres to strict standards standard of conduct, which means that you can be sure that our information is trustworthy and accurate. Our award-winning editors and journalists provide honest and trustworthy information to assist you in making the best financial decisions. The content we create by our editorial team is factual, accurate and is not influenced through our sponsors. We’re honest about the ways we’re able to bring quality content, competitive rates and helpful tools to our customers by explaining how we make money. is an independent, advertising-supported publisher and comparison service. We receive compensation for the placement of sponsored products or services, or through you clicking certain links posted on our site. Therefore, this compensation may impact how, where and when products appear within listing categories in the event that they are not permitted by law for our mortgage or home equity, and other products for home loans. Other factors, like our own website rules and whether or not a product is available in your region or within your own personal credit score could also affect the manner in which products are featured on this site. We strive to offer the most diverse selection of products, Bankrate does not include details about each financial or credit item or service. Black Friday is an opportunity to get incredible savings and bargains and is particularly crucial due to the recent rise in inflation prices. Car prices have risen 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 for savings in the near term and can be flexible across the various brands available, Black Friday can be an ideal time to purchase cars. Is Black Friday a good time to purchase a car?

Black Friday could be an ideal time to purchase a car — if you can manage to get a bargain on the car you’re looking for . There are more people shopping for cars than there are vehicles available, and so huge discounts may be difficult to snag.

Black Friday car deals vary according to the manufacturer. Black Friday car deals are usually announced and set at the level of the manufacturer, but local dealerships and chains with large regional presence may have their own deals. Black Friday deals usually focus on financing, credits and lowered prices. Deals on financing Financing is one of the most common Black Friday car deals. These deals are typically backed by the manufacturer – Chrysler Capital, Toyota Motor Credit Corporation, Ford Motor Credit Company and the like. Most often, advertised deals include no down-payment, and there are no monthly payments for a longer period. All financing deals are only offered on credit that is approved. The greater the value of the financing offer, the better your credit score will be to qualify. The deals usually come with an equivalent discount in dollars even if you do not opt for promotional financing. Even if you’re planning to finance a vehicle then you might prefer taking the extra money off of the price of the sale. Non-financing deals Numerous dealerships and manufacturers will offer a set amount of money off the Manufacturer’s Suggested Retail Price (MSRP) on Black Friday. They also sometimes advertise that they’ll give you a greater amount of money for vehicles that qualify for trade-ins. A higher value for trade-ins lowers the amount you’ll pay in sales tax on the vehicle you are purchasing, which could be as high as 11.45 percent, depending on the state and city you live in. Leasing offers In addition to buying deals, Black Friday car shoppers are also able to benefit from leasing offers. If you opt for leasing to lease, you could be able to secure lower monthly installments, lower money down, or higher mileage limits with an Black Friday promotion. Black Friday isn’t the ideal time to purchase a car. the chip shortage that originally caused a huge impact on car availability is starting to decrease, but it doesn’t mean cars are as easily available as they were before the pandemic. Car inventory is still low, which effectively makes it a . Depending on the specific model, make and trim that you’re after, you could still be facing a months-long waitlist. If you’re very set on a specific car and you have to order it, the dealer has little incentive to give you an offer during Black Friday. If you’re flexible across different makes models, styles and models and models, you might be able to get better deals around New Year’s Eve or Christmas than on Black Friday. Current car buying environment in addition to general inventory shortages it’s not a good time if you plan to finance a car. Unless you can pay in cash, you’ll be paying significantly more in interest to purchase an automobile now than you would have in 2021. When a car buying may decline, and dealers could be more motivated to reduce prices. The interest rates are also likely to be reduced to combat a recession. If you don’t require an automobile, you might prefer to stay clear of Black Friday car sales this year, and continue to save cash. Even if interest rates remain high, you’ll be able to put more money down and save on financing costs. Before you go to the dealer if you need to finance a car will help you get a better picture of your budget and the price range. Bring to the dealership with the best knowledge possible. You may find that you are eligible for competitive interest rates by using the internet-based bank, or . This can give you the ability to negotiate a lower price for your purchase in the event that you do not have to chase after any specialty promotional financing the dealership is offering. You can quickly determine the amount of car you are able to afford and and interest rates across a variety of lenders by using our prequalification tool. It’s only a couple of minutes and won’t hurt the credit rating. Bottom line: If you need a car soon and can be open to change, Black Friday deals can be found. But don’t expect that they will be as good like they were before the outbreak. If you’re patient, you may be able to get better deals at the time of the year’s end or the following year, when stock is more abundant.


Written by the contributing Writer Rae Hartley Beck is a editor and writer with more than 8 years experience working in personal financial matters. Her writing has been published on Bankrate, MoneyWise and Investopedia. Rae specializes on credit card reward, real estate investing, home renovation, lending, and financial tips for millennials, Gen Z, Gen Alpha and their parents. The article was edited by Rhys Subitch Edited by Auto loans editor Rhys has been editing and writing for Bankrate from late 2021. They are dedicated to helping their readers gain the confidence to control their finances through providing precise, well-researched and well-documented information that breaks down otherwise complex topics into manageable bites.

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