Insurance and Finance

Do You Know the Best Time to Buy a New Car?

By James Mayfield 8.18.15

When it comes to buying a new car, late summer and early fall are commonly considered the best times to get a good deal on the purchase a new set of wheels. This is when auto dealers replace the current year’s models with next year’s.

A study conducted by TrueCar, a website providing market data to new car buyers, found that over the past several years new car and truck prices have averaged $716 lower in August than in other months — $169 lower than the next-lowest month, July. “This is a great example of the power of data, which shows dealers are clearing out older inventory in August,” says Scott Painter, founder and CEO of TrueCar.

Before you head out to buy a new vehicle this fall, prepare yourself for the experience with these three steps.

Shop Around

Since buying an automobile is one of the biggest financial decisions you can make next to purchasing a home, do your homework. The amount of information available to today’s car buyer via websites such as Edmunds, Autotrader,, Kelley Blue Book, TrueCar, Yahoo! Autos, and more give consumers the upper hand, empowering them with knowledge before they even set foot on the car lot.

Research Prices

You can also dig up what a good deal on the new car of your dreams might look like. Check out Kelley Blue Book’s Fair Purchase Price, which is updated weekly and uses information gathered from actual auto purchases.

Consider Your Auto Insurance Needs

When it comes to choosing the right car insurance coverage, everyone is different. Consult a Texas Farm Bureau Insurance Agent to determine what makes sense for you.

After heavy flooding throughout the state, make sure you don’t inadvertently buy a flood-damaged car with this guide.