labor day

5 Times You Can Score a Great Deal on a New Car

Ashley Eneriz — Wed, 12 Oct 2016 10:30:08 +0000

When it comes to scoring a new set of wheels, most personal finance experts would agree that used is best. However, used is not always an option if your partner wants a new vehicle or if you are looking for a specific vehicle to accommodate your driving needs. That's where these tips come in.

Buying a new car at these times can help you land a lower price on your new vehicle. Remember to work on your negotiating skills before heading to the dealership.

1. Labor Day

Labor Day has already passed this year, so keep this information in your head for future reference. Market Watch said, "The time around Labor Day seems to be the sweet spot for bargain hunters, as new models jostle for space on dealers' lots with the outgoing ones." Many dealerships will offer cash back rebates and other incentives to get you to buy, so take advantage of these offers.

We bought our Kia Sorento on Labor Day in 2012. We were initially looking at a used version, but the new model ended up being less due to not having unnecessary trim, and it came with better offers. To qualify for a $1,500 discount, we had to do a loan through them, which at 4% was horrible. We called a credit union the next day and refinanced the loan to under 2%. Sorentos were then in a settlement suit that year, which means we get reimbursed for a percentage of our gas for the life of the car — so that car is not going anywhere soon.

2. The End of the Year

Just because you missed Labor Day doesn't mean you can't still get a great deal. October, November, and December are all good months to shop too, since dealerships are trying to clear out all current year models before the New Year.

Waiting until right before the New Year can result in the biggest discount, but it can also leave you with limited choices. Even when we bought the Sorento in 2012, the options for a 2012 model were slim. The dealership had already cleared out almost all of its 2012 inventory.

3. After a Huge Model Redesign

If the car you have your eye on has a significant model redesign, then the current model should be at a huge discount. Just make sure that you know the reasons for the huge change. Is the redesign for appearance reasons or was it to fix a number of recalled safety issues?

I strongly recommend getting a one month pass for ConsumerReports.org for $6.95. Consumer Reports makes it simple to research car models, common problems with certain models, and recalls. It was Consumer Reports that swayed us from getting another model that had a lot of issues.

4. The End of the Day at the End of Month

If you can go to the dealership at the end of the day on the last day of the month, you have a better chance at saving money, even if there are no rebates or incentives available. Many salesmen need to meet a certain quota by the end of the month, which could put you in a great negotiating position. Plus, some salesmen are willing to lose money on a few cars if it means they will qualify for a special bonus.

Sundays have also been proven to be a day of better discounts, especially to buying a car on Friday or Saturday. For example, going in Sunday, October 30 this year might be an opportune time to get a good deal. Sellers know they won't get many buyers on Halloween, and they still have to meet certain numbers before the month ends.

If you do want to buy a car at the end of the day, try picking out the car and test driving it ahead of time. This way you won't be trying to look at prices and check for issues in the dark. (See also: 17 Things Car Salesmen Don't Want You to Know)

5. Black Friday

Car dealerships have jumped on the bandwagon when it comes to Black Friday deals. So instead of hitting up the mall for Black Friday shopping, visit your local dealership. The best part is that you do not have to wake up early.

It is best to test drive and look at cars ahead of the sale so that you don't feel rushed or pressured. Black Friday is built upon shopping hype and impulse buys, which are not needed when you are considering a large purchase.

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This article is from Ashley Eneriz of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Best Money Tips: Don't Miss These Labor Day Travel Deals!

Amy Lu — Fri, 26 Aug 2016 09:30:32 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found articles on Labor Day travel deals you won’t want to miss, how to make your summer tan stick around, and online dollar stores for major savings.

15 Fun and Frugal Labor Day Activities

Amanda Meadows — Thu, 03 Sep 2015 11:00:25 +0000

So far you probably have two goals for Labor Day: 1.) Not get stuck hosting a barbeque yourself, and 2.) Somehow convince the kids that Disneyland is a bad idea. So what else can be done on the last big weekend of summer? Try these 15 leisurely ways to enjoy Labor Day.

1. A Union Parade

Since 1894, there have been parades in nearly every major city to celebrate the labor of the American worker. Why not enjoy the pageantry and patriotism? Set up chairs to view the parade and support local workers!

2. See an Outdoor Movie

Grab your coolers, folding chairs, blankets, and set up camp on a lawn to see an old favorite movie. If there's a classic drive-in theater near you (which would be lucky, as there are only a few left in existence), why not roll up to see a new movie?

3. The County Fair

Without fail, there is always a county fair within a couple hours' drive from anywhere. This is an easy and fun way to spend a day watching shows, eating crazy street food, and enjoying rides with the family. The county fair is a can't-fail plan.

4. Shakespeare in the Park

Class it up with a relaxing Shakespeare play or two in the park. Local community theatres put on shows like these all the time throughout the summer. Catch one before the season ends.

5. Visit a Museum for Free

Did you know Bank of America customers can visit select museums for free? It's a cool perk worth using at least once per year! This is a great time, since this is usually the time for big and popular exhibits.

6. A Classic Car Show

In places like Southern California, local parks are a beacon for classic cars on the weekend. Look up classic car meetups near you to enjoy watching beautiful vehicles nearly a century old riding by — some with hydraulics!

7. Enjoy the Beach

Always easy, why not take an impromptu trip to the ocean, lake, or river for some leisurely fun? Pack up a delicious picnic to enjoy there, then finish it off with some boardwalk ice cream.

8. Visit the Science Center

Take the kids to the local science center for a quick brush-up course before school officially starts. Summer exhibits (like Los Angeles' current Dead Sea Scrolls) tend to come with really cool 3D movies and lots of air conditioning!

9. Local Summer Concerts

Summer concert series tend to end around Labor Day, so this will likely be a big show. Check your local city hall website for symphonies, live bands, or music festivals happening in town.

10. Lay Under the Stars

Bored with the offerings within city limits? Take a quick drive to the nearest mountains or desert, find a place to camp for a night, and lay under the stars. It might just be a carefree balmy night to remember when you're back at work.

11. Take the Train

Sometimes it doesn't matter where you go, but how you do it. There are tons of easy and fun train trips to take anywhere in the U.S. that are actually very reasonably priced.

12. Chill at a Skating Rink

Skating rinks are so passe they are cool again! If you want to enjoy some kitschy fun, hit up the nearest roller rink for a cheap date. Brazing hot and need a cooler activity? Try brushing up on your hockey skills in an indoor ice rink.

13. The Farmers Market

Not interested in planning a trip, but want to celebrate the time of year in a culinary fashion? This is a great time for the farmers market: so much good stuff is in season. Pick up the freshest fruit and vegetables, soak in some live music, and taste some free cheese samples.

14. Hang at a Brew Festival

Sometimes you just need an excuse to drink. Luckily, brew festivals are gaining popularity everywhere in the nation. Sure, they tend to cost somewhere between $30–$70, but look at it this way: tickets usually include unlimited beer and lots of bite size snacks to gorge on. Look up a nearby festival and go with some friends.

15. Stay Inside and Read

Never overrated, it's hard to say no to staying indoors. You didn't get invited to a wedding or goaded into another boring barbeque, so congratulations! Why not let the world rave on while you enjoy your couch, air conditioning, and a good book. Have you read Yes, Please yet?

What are your plans for the Labor Day weekend?

This article is from Amanda Meadows of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

For the Best Deals of the Year, Shop Labor Day and Skip Black Friday

Mikey Rox — Thu, 29 Aug 2013 10:36:28 +0000

Labor Day marks the unofficial end of summer. And while your weekend plans probably include a final hurrah at the beach and perhaps a quick cameo at a few cookouts, don't forget to hit your local retail malls. (See also: The Store Sales Cycle)

Any holiday is an excuse to shop as retailers advertise big sales and clearances on just about everything. But like most shoppers, you may feel that Black Friday and Cyber Monday offer more bang for your buck.

Sure, if you have the patience to fight crowded retail lines, plus the willpower to wake up at 4 a.m. for doorbuster sales, you can score amazing discounts on Black Friday. But don't set your alarm clock so fast. Black Friday is the busiest shopping day of the year, but according to data released by Shop It to Me, a personalized shopping website, Labor Day might offer better discounts — and not just on last-minute back-to-school items. (See also: Back-to-School Items You Should Always Shop for at the Thrift Store)

The website analyzed "nearly 700,000 markdowns throughout 2011 from over 150+ online retailers" and ranked Labor Day as the best shopping holiday for deals, with average discounts around 48.4%. According to the survey, Black Friday/Cyber Monday discounts only averaged 41%-42%.

But seriously, Labor Day? Other experts agree.

"Labor Day is like Last Chance Saloon for great deals every year," says Mark Ellwood, author of Bargain Fever: How to Shop in a Discount World. "The reason is simple: most Black Friday/Cyber Monday offers are artificial — or, more accurately, the merchandise isn't exactly marked down, but rather bought in specially and always intended to be sold on-sale."

Although the majority of consumers are not likely to associate Labor Day with huge shopping sales, it's "the ultimate clearance opportunity."

With cooler temperatures right around the corner and the holiday season quickly approaching, retailers are in a mad dash to clear summer stock and make room for the arrival of new merchandise — even if it means letting items go at unbelievable discounts.

Of course, the selection of sale or clearance items during Labor Day is small when compared to the selection at the beginning of the summer season. But if you find what you're looking for, "splurge as much as you can over Labor Day, buy as many gifts for the holiday as you can, and then keep your wallet closed until November," says Ellwood.

Where to Spend Your Money This Labor Day

So, what exactly should you splurge on this holiday weekend? According to Brad Wilson, CEO of BradDeals.com, a coupon and savings website, this is the best time to score huge deals on last season's items, such as summer clothes, patio furniture and other outdoor accessories. "Buy now, stash them away for next year, and save."

Kids can never have too many pairs of jeans for school. And since retailers typically stock up on denim in preparation for back-to-school, "there are still piles of blue jeans lingering in stock rooms, and stores respond accordingly," according to Ellwood. "The annual denim discount period kicks off at Labor Day." (See also: Buy Jeans on the Cheap)

Labor Day bargains, however, don't stop with clothes and outdoor supplies.

Now's also the time to shop if you're in the market for new appliances: washers, dryers, stoves, etc. "Most new white goods models are issued in September and October, which of course means that last year's models — which usually look 99.9% the same as the new ones — are marked down significantly at this period."

The savings also applies to cookware, a staple of Black Friday markdowns. "The deals on Labor Day are as good, if not better, than later in the year."

Snagging the Best Discounts on Labor Day

Don't be afraid to open your mouth and ask for additional savings. The sales associate or manager will either say yes or no — you've got nothing to lose. For example, if you're buying two pairs of jeans, maybe you can ask for a multi-buy markdown, suggests Ellwood. (See also: 5 Phrases to Avoid When Negotiating)
Retailers take a hit each time a consumer uses a credit card, as much as 3%-4% per transaction. Use this knowledge to your advantage and ask the retailer to discount the price of a higher ticket item if you agree to pay in cash.
Use automated services to take the stress out of bargain hunting. Sign up for free services — like Shopittome.com — that will track your favorite brands and notify you of sales. "Pre-select everything from brand to color to trend and wait for the deals to roll in." Additionally, create a Twitter handle or email account specifically for shopping and subscribe to your favorite retailer's feeds and email clubs. This is a convenient, reliable way to learn about the day's sales and receive exclusive coupon codes.

Will you be shopping this weekend? Do you have tips for other Labor Day shoppers? Let me know in the comments below.

This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Best Money Tips: Labor Day Sales

Ashley Jacobs — Fri, 31 Aug 2012 10:00:43 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some great articles on labor day sales, giving without breaking the bank, and regaining control of your finances.