August is Hot...Especially for Car-Buying

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Aug 06, 2013, 12:05 ET

SANTA MONICA, Calif., Aug. 5, 2013 /PRNewswire/ -- The beach may be sunny right now, but the real summer hot-spot is at car dealerships. That's where consumers can get scorching deals on new vehicles, specifically in August, according to TrueCar.com.

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August is the best month to buy a car, according to @TrueCar. (PRNewsFoto/TrueCar.com) (PRNewsFoto/TRUECAR.COM)

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While common wisdom is that December is the best time to buy a car, TrueCar data shows the average price for buying a vehicle in August is more than $150 lower than any other month. That's $500 lower, on average, than the rest of the year. And it's more than $1,000 lower than December, which actually has the highest monthly transaction price.

"August is the best month to buy a car or truck because dealers are cleaning out older inventory as the new models roll in," says Scott Painter, founder and CEO of TrueCar, a Santa Monica, Calif.-based automotive pricing information and analysis company. "This change-over means late-model vehicles are priced to be quickly sold off the lot. August is definitely the time to buy … if you're looking to save money."

According to TrueCar data, the average August transaction price during the past four years is $28,950. Next closest is February, which checks in at $29,109.

The bottom line for consumers, says Painter, is to always do research before buying a new vehicle. "There's a new, more empowering way to buy a car, and it involves being a fully informed consumer. The value of TrueCar.com is it partners consumers with our 6,300 Certified Dealers around the country. They mutually agree online to a 'no-hassle' price and guaranteed savings, which makes the car-buying experience much easier, faster and less stressful – for both the consumer and dealer. And in August, it's much cheaper, too."

You can follow TrueCar on Twitter (@TrueCar) and become a fan of TrueCar on Facebook and Google+.

About TrueCar, Inc.
TrueCar, Inc., headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas, is an automotive pricing information and analysis company that creates a better buying experience for dealers and consumers. As an online publisher of unbiased new and used car transaction data, TrueCar.com provides price reports that empower dealers and consumers to agree on the parameters of a fair deal by supplying a transparent, simple understanding of what others recently paid for similarly-equipped new cars in their geographic area. TrueCar also owns ALG, the benchmark for vehicle value information to the automotive industry and has been forecasting residual values for nearly 50 years in both the U.S. and Canadian markets.

TrueCar is a data-driven company that sources, compiles, and analyzes car-buying information unlike anybody in the industry. This is why, since its founding in 2005, TrueCar dealer partners have sold more than 800,000 vehicles across the country. Its national network of more than 6,100 Certified Dealers is committed to provide no-hassle pricing for some of the country's largest membership and service organizations, including American Express, AAA, USAA and Consumer Reports that collectively represent more than one million monthly in-market customers.

2012 Average Vehicle Transaction Prices
Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
$30,512	$30,605	$30,748	$30,303	$30,360	$30,508	$30,369	$30,274	$30,282	$30,486	$30,832	$31,228