This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Why the Next Few Weeks Is Your Best Time to Buy a Car

NEW YORK (TheStreet) -- Troublesome signs ahead for the auto market could translate into a big opportunity for buyers. But they're going to have to act in the next six weeks or so.

Data from Auto Week show that "supplies of unsold vehicles have ballooned to the highest level since the recession, and U.S. sales growth has slowed significantly in the past five months."

The publication call that an "ominous sign" that should, however, work out great on visits to dealer lots, where "bigger discounts" should be available.

It's not just Auto Week touting opportunities for new car shoppers. Scott Painter, founder and chief executive at TrueCar, says the coming days are going to be an epic time to get a deal on a new car, thanks to to a combination of auto-buying trends and extreme winter weather.

"According to TrueCar data, the average transaction price of a car in February is just under $30,000 -- making it the second-best month of the year to buy a car," Painter says. (The best is August.) "Extreme weather conditions have caused dealer inventories to rise to their highest levels since 2009. With incentives on the rise, if you're willing to brave the elements, the next 30 to 45 days will be an epic time to buy." 

Auto dealers are finding that their inventories are at their highest levels since 2009, with cars spending more than 60 days on the lot, Painter says. Thanks to higher inventory, incentives are expected to increase throughout February and March.

The 2014 Ram 1500 and the 2014 Cadillac ATS are February's "best deals," according to TrueCar, with consumers saving more than $5,000 off the manufacturer's suggested retail price.

Buyers can also save $3,500 on a new 2014 Dodge Journey and $3,380 Chevrolet Malibu. In the minivan market, the 2014 Chrysler Town & Country should see its sticker price reduced by $5,057, True Car reports.

That's real dough, and a real opportunity to get a good deal on a new set of wheels -- but don't wait 46 days to pull the trigger.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $124.43 -1.54%
FB $82.22 -1.18%
GOOG $548.00 -0.73%
TSLA $188.77 -0.94%
YHOO $44.44 -1.15%

Markets

DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs