When most people think of Black Friday shopping, they think about finding deals on gifts small enough to put under a Christmas tree. However, according to CNN Money, the day after Thanksgiving is also your best day of the year to buy a new car. That’s the word from Jesse Toprak, an analyst for the Website TrueCar.com. His company has tracked pricing on new cars for the last several years, and while prices can be negotiated lower any day of the year, Toprak says the biggest discounts are now generally offered on Black Friday. In fact, research shows that the average new car discount on that day is about 7.5%! That’s almost three percentage points higher than the typical discount offered on other days.
Why are deals so much better on Black Friday? First, Toprak says it’s traditionally one of the slowest days of the year for car sales - because people are busy crowding malls and department stores. So dealers are trying anything they can to grab a piece of the Black Friday shopping frenzy. For example: A dealership in New York plans to send salesmen dressed in gorilla suits to a local Best Buy store. They’ll be draped in sandwich-board signs, advertising the car deals down the street. Another reason why discounts tend to be higher on Black Friday is because the day falls close to the end of the month. Many dealerships have end-of-month quotas they need to meet with their manufacturer. So they’re more motivated to make deal. Know this: Dealers are under even more pressure to sell in November and December, because they need to make room for the 2010 model cars and trucks. That means Black Friday will be the first day many dealers launch end-of-year clearance sales. In other words: Black Friday offers your best chance all year to get a deal on a new car! If you’re wondering which models will offer the biggest discounts this coming Black Friday, try this Website: TrueCar.com.