What Time Of Year Is The Best Time To Buy A Car

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From now through Labor Day, the monthly payment would be about $2,000 cheaper than it is right now for a 5-year-old sedan like the one I own. That’s because banks and credit unions typically offer lower rates during summer months — when people tend to buy cars with cash instead of financing them — and they don’t charge as much interest on loans.

So far this year, more car buyers have been making offers without finance deals in place, according to Edmunds data cited by Bloomberg News. The share of sellers accepting all but nonrefundable deposits from consumers fell from 70% last year to 47% so far this year.