What is the best month to buy a new car?

When do new cars come out, and does this coincide with the best time to buy a car? The NimbleFins team digs into data to find out what month new cars come out, as well as the best months to buy both new and used cars.

• What month do new cars come out?
• What are the best months to buy a car?
• What is the best month to buy car insurance?

What month do new cars come out?

New car models are released each March and September, leading to a big increase in new car registrations in these two months.

March is the month with the most new cars—over the past ten years, an average of 392,732 new cars were registered every March, which is 115% more than the average monthly figure. September is the month with the 2nd highest number of new car registrations—over the past ten years, an average of 354,060 new cars were registered every September, which 94% more than the average monthly figure. (The ten-year average monthly number of new car registrations is 182,447.)

The following chart shows the surge in first-time registrations in March and September, with figures for the past 12 months displayed by the columns and the 10-year average as a trend line.

As you can see, new car registrations peak in March and September.

What are the best months to buy a car?

Are March and September also the best months to buy a car? It depends.

There are two factors that have a big influence on the best time to buy a car:

The best time to buy a new car

The best time to buy a new car is when dealers are trying to increase their sales figures (either when sales volume is low or when they are approaching month or quarter end)—and may be more inclined to make a deal in order to lock in a sale.

August and February, the months before new number plates come out, can be the best months to buy a new car because these are typically slow months (people often avoid buying in August and February, preferring to wait a month in order to get a new number plate). If you do buy a new car in August or February keep in mind that the resale value of the car could be lower than the resale value of the same car with a newer number plate, even if your car was registered just days earlier—probably less of a factor if you'll keep the car for a long time.

Similarly, sales can slow down right before a new model comes out, making that a good time to secure a discount from a dealer. As above, keep in mind that an older model will have a lower resale value.

Also, end of month, especially at the end of each quarter, dealers may be keen to make sales before they close their books for the period. This makes the end of March, June, September and December good times to try to save on a new car.

The best time to buy a used car

The months right before and after new number plates come out are typically the best months to buy a used car. New number plates come out in March and September, at which point there are surges in the number of new car registrations (see the chart above).

August and February, immediately before these surges, can be great months to buy a used car because dealers need to clear their forecourts to make room for the influx of new cars for the following month. As a result, they make take a lower price to make room in their car lot.

October and April, immediately after these new-car registration surges, can also be good months to buy a used car because many people part exchange their old cars for new ones, so dealers can find themselves with a glut of second-hand cars that they want to sell—giving buyers a negotiating edge.

Best month to buy car insurance?

While we typically don't have a choice as to when to buy car insurance—because it is required by law, we need it to drive—the data does show that the cost of car insurance typically dips in the first quarter of the year, making Q1 the best time in the year to buy cheap car insurance, on average.

Looking back seven years, data from the ABI indicates that the average price paid for comprehensive car insurance drops 2.4% on average in Q1 compared to Q4. Insurance typically rises the most in Q4 (+4.1%).