Auto lenders are completely belligerent with approvals right now. The big lenders are dialing the subprime back and getting far more aggressive on prime due to some recent indicators in the market. The smaller lenders (especially credit unions) are starving for business since they can't compete with the big prime and captive lenders. In response, they're consuming just about all the trash left over to meet their numbers. If you can fog a mirror, you can get approved.
As for inventory, it's not necessarily end of year (that's not a bad time to buy, though), but best timed for the particular model of car you want. Dealers will be most competitive when new models are released, and they receive large holdback amounts from the manufacturers on their prior year inventory.
I helped my mother in law purchase a Jeep Wrangler a few years ago just after Daimler issued their holdbacks. She ended up getting a loaded unlimited for 27,500 out the door, and the invoice was 32,000. Complete insanity.
"When the people find that they can vote themselves money, that will herald the end of the republic." -Benjamin Franklin "A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury." -Alexander Fraser Tytler
Last day of the month....or close to the end of the month. Be ready to walk if you don't get the deal you want. If the weather has been bad they will want the number to help meet their monthly projections....
It should be mentioned that many dealers end their month during the first week of the next month. It just depends on the dealer group. Walking must always be on the table. 2 of the last 3 good deals I was able to get were phone calls an hour after I had left the dealer.
"When the people find that they can vote themselves money, that will herald the end of the republic." -Benjamin Franklin "A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury." -Alexander Fraser Tytler
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