When people think of Black Friday shopping, they usually think of things like TVs, clothes and small appliances. Now you can add cars, trucks and SUVs.
November 26th is Black Friday, the day after Thanksgiving, and is the best day to buy a car, according to car pricing researchers at www.truecar.com.
Looking at day-by-day car pricing for the past several years, their data revealed that discounts on Black Friday are the biggest of the year.
"Dealership's discounts and manufacturers' rebates and special offers result in the greatest markdowns of the year on Black Friday," said Mr. Toprak, of Truecar.com.
Average new car discounts on November 26th is projected to be 7.5%. The average discount the days before and after are expected to be around 6%.
Be sure to get in on the Black Friday Madness
"Dealerships typically spend a lot of money on advertising for that day," said Toprak "but it's not usually a particularly big day for car shopping."
That's probably the reason for the extra-large discounts, Toprak speculated. Auto dealers that aren't getting the usual amount of business just keep trying harder.
It's Crunch Time for Dealers
Black Friday happens to fall close to the end of the month this year when car deals are typically sweeter as the month goes on because dealerships must meet their sales quotas in order to get additional incentives from the manufacturers.
Besides the usual monthly deadlines, dealers are also under pressure to clear out 2010 cars and trucks before the end of the calendar year. Those cars will be harder to sell after December 31st, when they become "last year's" models!
Courtesy Chevrolet's Black Friday starts at 5 AM, Friday, November 26th, 2010
Click here to pre-register for the event.