The day after Thanksgiving – known as “Black Friday” to enthusiastic bargain hunters – is one biggest shopping day of the year for retail stores across the county. However, you may not know that it is also one of the best days of the year to buy a new car. According to CNN Money.com, studies show that on Black Fridays car dealerships historically offer large discounts on both new and used cars.
Analysts looked at day-by-day car pricing for the last several years. That data revealed that discounts on Black Friday are, on average, the biggest of the year.
"The discounts from dealerships, as well as manufacturers' incentives, generate the highest discounts of the year on Black Friday," said Jesse Toprak, an analyst for Truecar.com.
Unlike typical Black Friday sales where customers know exactly what they'll pay for an item, car prices are individually negotiated the day of the sale, so it's difficult for customers to know ahead of time they'll be getting a deal. But there's been a clear trend, Toprak said.