It took a year for me to realize why I should be more selective with my Memorial Day purchases. Most retailers are clearing inventory, but not all are bringing in new inventory. I have found that deals on some items are better in late Summer, Fall, and early Winter. Its not the end of the world. However, if you are looking to save as much as possible, then you might want to consider the waiting game as a strategy before buying some items.
Cars and Trucks
This advice comes with caveats. If you are familiar with your local car dealer, know a good car when you see one, and, know a good deal when you see one, then go for it. The thing is, some car dealerships use Memorial Day as a time to unload last year’s inventory. They begin unloading even more inventory and begin shipping in new models during June, and succeeding Summer, after Memorial Day.
Sometimes, the best deals for new cars occur over the July 4th, Labor Day, and Fall holidays. Car dealerships have next year’s inventory on-site and desperately need to move out last year models. You are bound to get a better deal over the summer and fall since dealers will be more anxious to reduce existing inventory. Especially with new models sharing inventory space with older models. The 30-day period after Memorial Day may actually be the optimal time to buy a new car.
At the very least, it pays to shop around. Waiting to see future sales may not be the worst option. Car dealers know consumers have been waiting all summer to look at new inventory. Also, the average price of a new car is about $37,000, so why rush it? Keep in mind that you will also find great deals on tires on Memorial Day since it is the first, big travel season of the year.
Laptop Computers
Retailers often make deals and discounts on their slower, older, and less popular PCs and laptops. It’s not that you won’t get a great deal. You’re bound to find sales and discounts as deep as 40% to 50%, and perhaps even more. Its just that you won’t necessarily be buying top line, faster processing, or popular models. As is the norm, most retailers use memorial to clear out their unsold inventories before ordering next year’s products.
Your better bet is to wait until late Summer and take advantage of Labor Day, Back-to-School, Black Friday, and Thanksgiving sales. You will find better deals on new and popular PCs and laptops then, not just older models.
Outdoor Furniture and Grills
The biggest retail deals on patio furniture, grills and grilling accessories will probably be had during late Summer and during the Fall. Around Memorial Day, you might find savings as deep as 20%, and maybe a little more. However, you may find savings as deep as 80% after Labor Day and during the Fall. After all, the Fall and early Winter aren’t the most popular times for grilling or extensive hangout sessions on the patio.
Shop Around for The Best Deals
I am not telling you to not shop on Memorial Day. All I am saying is, strategically pick your battles on savings when it comes to certain items.
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Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.