CNN reports that data from Truecar.com indicates that Black Friday is the best day to buy a car. Truecar.com's data shows that the average car discount on Black Friday is 7.5%. Jesse Toprak, an analyst for Truecar.com, told CNN, "The discounts from dealerships, as well as manufacturers' incentives, generate the highest discounts of the year on Black Friday."
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.
The average new car discount on Nov. 27 is projected to be 7.5%. The average discount the day before and after is expected to be just over 6%. On a typical day throughout the year, car shoppers usually pay about 4.7% less than the sticker price.
Truecar.com projected particularly large Black Friday discounts on certain models. For instance, consumers should be able to pay about 28% off sticker price for a 2009 Suzuki SX4 compact car, 26% off for a 2009 Nissan Titan or Ford F-150 pick-up or 20% off a 2009 Hyundai Sonata sedan.
The deals are good but they are also the kind that have to be negotiated. Consider taking someone who is good at negotiating with you if you are inexperienced. Truecar.com has a good article about negotiating car deals at the dealership here.
