Black Friday has become synonymous with incredible deals and massive savings across a wide range of products. But did you know that Black Friday car deals can be just as exciting? If you’re in the market for a new or used vehicle, Black Friday might be the perfect time to make your purchase.
In this article, we’ll explore everything you need to know about Black Friday car deals in 2024, from the types of discounts you can expect to the strategies for getting the best prices.
What Are Black Friday Car Deals?
Black Friday car deals refer to the special promotions and discounts offered by car dealerships and manufacturers during the Black Friday shopping season. These deals often include:
- Reduced prices on new and used cars
- Cashback incentives
- Low or 0% APR Financing
- Extended warranties
While Black Friday is primarily known for electronics and retail sales, many car dealerships participate in the sales frenzy, offering deep discounts on their inventory.
When Do Black Friday Car Deals Start?
Traditionally, Black Friday falls on the day after Thanksgiving, which in 2024 will be on November 29th. However, Black Friday car deals often start earlier, sometimes weeks in advance. Some dealerships may even begin offering specials as early as the beginning of November. The key is to keep an eye out for promotions and act quickly when you find a deal that suits your needs.
What Types of Discounts Can You Expect?
During Black Friday car sales, the discounts can be substantial.
Cashback Offers
Many dealerships offer cashback incentives, sometimes up to thousands of pounds, making it easier to afford a new or used vehicle. These offers can reduce the overall price, allowing you to pocket the difference or put it toward a down payment.
0% Financing
If you’re planning to finance your car, Black Friday car deals often include 0% APR financing for a set period. This means you can spread the cost of the car over several years without paying any interest, saving you money in the long run.
Price Reductions
Dealerships often lower the prices of new and used cars significantly during Black Friday. The savings can range from a few hundred pounds to several thousand, depending on the model and year of the vehicle.
Lease Specials
If you prefer to lease, Black Friday is also an excellent time to find special lease offers. These deals may include reduced monthly payments or lower upfront costs, making leasing more affordable.
Which Brands Offer the Best Black Friday Car Deals?
Several major car manufacturers and dealerships participate in Black Friday sales. Some of the brands known for offering the best Black Friday car deals include:
- Ford
- Toyota
- Honda
- Chevrolet
- Nissan
- BMW
These brands often have a wide selection of models on offer, from budget-friendly options to luxury vehicles, ensuring there’s something for everyone.
Should You Buy New or Used During Black Friday?
Deciding between a new or used car during Black Friday comes down to personal preference and budget. Both options have their advantages:
New Cars
- Latest features and technology: New cars come with the most recent innovations, safety features, and infotainment systems.
- Better financing options: New cars often come with lower interest rates or special financing promotions, especially during Black Friday.
- Warranty protection: New vehicles come with full warranties, providing peace of mind for the first few years of ownership.
Used Cars
- Lower upfront costs: Used cars are generally more affordable, and Black Friday can bring even steeper discounts.
- Less depreciation: A used car has already gone through its steepest depreciation, meaning you won’t lose as much value as you would with a new car.
- Wider selection: Black Friday can bring out a variety of used vehicles, from certified pre-owned models to older, budget-friendly options.
Preparation for Black Friday Car Deals
To ensure you get the best possible deal, it’s important to prepare in advance. Here are a few steps to take before Black Friday 2024:
Set Your Budget
Before heading to the dealership, determine how much you’re willing to spend. Consider aspects like monthly repayments, insurance expenses, and maintenance costs. Setting a budget will help you avoid overspending during the excitement of the sale.
Research Models and Prices
Take the time to research the car models you’re interested in, as well as their typical prices. This way, you’ll know whether you’re truly getting a good deal during Black Friday. Websites like AutoTrader and Kelley Blue Book can provide valuable insights into vehicle pricing.
Get Pre-Approved for Financing
If you plan to finance your purchase, consider getting pre-approved for a loan before Black Friday. This will give you an idea of your budget and help you negotiate with confidence at the dealership.
Monitor Dealership Websites
In the weeks leading up to Black Friday, check dealership websites and sign up for email alerts. Many dealerships announce their Black Friday car deals in advance, allowing you to plan your visit.
What to Watch Out for During Black Friday Car Deals
While Black Friday car deals can offer great savings, there are a few things to watch out for:
Limited Stock
Some of the best deals may be limited to specific models or quantities. It’s essential to act quickly if you find a vehicle that fits your needs, as stock may run out fast.
Hidden Fees
Be aware of additional fees that can increase the total cost of the vehicle. These might include documentation fees, extended warranties, or dealer add-ons. Make sure to ask for a breakdown of all charges before finalizing your purchase.
Financing Terms
While 0% financing may sound appealing, make sure you understand the full terms of the offer. In some cases, the 0% APR may only apply for a limited time, after which interest rates can rise.
The Best Time to Shop on Black Friday
While many people rush to dealerships early in the morning on Black Friday, the best time to shop maybe later in the day. Dealerships may become more willing to negotiate as the day progresses and sales goals need to be met. Additionally, the weekend following Black Friday can also offer great deals.
Conclusion: Is Black Friday the Right Time to Buy a Car?
If you’re looking for significant savings on a new or used vehicle, Black Friday car deals can be an excellent opportunity. With discounts on prices, cashback offers, and special financing deals, you can drive away with a great car at a fraction of the cost. However, it’s essential to do your research, set a budget, and be prepared to act quickly to secure the best deals.
