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@BigDataExpo Authors: Liz McMillan, Elizabeth White, Srinivasan Sundara Rajan, Ed Featherston, William Schmarzo

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August Is The Best Month To Buy A New Car, According To TrueCar

August new car prices are on average $1,850 lower than December, which is often perceived to be the optimal time to purchase a vehicle

SANTA MONICA, Calif., Aug. 8, 2014 /PRNewswire/ -- Consumers looking to save on a new car or truck should do their shopping in August, according to the analysts at TrueCar, Inc. the negotiation-free car buying and selling platform.  New car and truck prices during the past five years in August have averaged $29,296$169 lower than any other month. 

To view the multimedia assets associated with this release, please click http://www.multivu.com/players/English/7286951-truecar-august-is-the-best-time-to-buy-a-car/

"This is a great example of the power of data, which shows dealers are clearing out older inventory in August," says TrueCar founder and CEO Scott Painter

Conventional wisdom used to be that December was prime time for new car and truck buyers. However, TrueCar data reveals that prices in December average $31,146 – the most expensive month for new cars and $1,850 higher than August.

"Consumer buying trends have been turned upside down during the past decade due to the emergence of big data," says Painter. "New car buyers are better educated because transparent pricing information is readily available at Truecar.com. And price-confident consumers create a better buying experience for themselves and car dealers."

BEST TIMES TO BUY A NEW VEHICLE

As the month-by-month chart below shows, the average new vehicle transaction price in August is $169 less than any other month. The next lowest average is July. The average August savings are $716 less than the median price for the rest of the year.

ABOUT TRUECAR

TrueCar, Inc. (NASDAQ: TRUE) is the negotiation-free car buying and selling platform. TrueCar enables a negotiation-free car buying experience by giving buyers transparent insight into what others actually paid (price confidence), upfront pricing information (price discovery), and access to a network of trusted TrueCar Certified Dealers who provide guaranteed savings certificates and seamlessly complete the car purchase. The reality is that buying a car is painful and buyers fear they are going to overpay or be surprised with hidden fees. TrueCar's transparent upfront pricing information makes the car buying process simple so there are no surprises and buyers never overpay. TrueCar's mission is to make car buying simple, fair and fun. Its national network of more than 8,000 TrueCar Certified Dealers, including both new car franchise dealers and non-franchise dealers, is committed to providing negotiation-free savings off MSRP and upfront pricing information for all car-buyers, including members of some of the country's largest membership and service organizations such as AARP, American Express, AAA, and USAA. Note: Not all program features are available in all states. Go to www.truecar.com for program details. TrueCar is headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas.

 

TrueCar

 

Best Day of the Week to Buy a New Vehicle

 

Best Time of the Month to Buy a New Vehicle

 

Best Month to Buy a New Vehicle by Vehicle Type

 

To view the multimedia assets associated with this release, please click http://www.multivu.com/players/English/7286951-truecar-august-is-the-best-time-to-buy-a-car/

SOURCE TrueCar, Inc.

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