From Car Loan Wiki

The answer is summer. Summer is the busiest time for car dealerships to sell, which makes it a prime time to buy. The new models have been showboated throughout the country which means old models need to be cleared off the lots to make room for the dazzling new models.

Although this might be the best time to buy, especially with all the cash rebates and 0.0% financing offers, not all deals will be best for you. For instance, low interest rates or 0.0% financing may sound spectacular, but if your credit score is not more spectacular - you don't qualify.

Purchasing a vehicle at the right time is important. Although summer may be the prime time for great deals, precautions still need to be taken. How you are going to finance your vehicle is one of the most important decisions to consider. Obtaining a loan through the dealership is a very convenient option. The dealership promises you the best available rate. Remember, however, the dealership is not giving you all of the information that allows you to make an informed decision. Dealerships make the "arrangements" for your financing; they are not giving you the money.

Dealers also know that summer is the best time to move cars off the lot. That is very important information. Dealers will try, and usually succeed, to pocket extra dollars from you. Adding points to interest rates is the most common form of pocketing money by a dealer. The interest rate on your financing is inflated by two to three points, guaranteed. The extra lump-sum of money goes right into the pocket of the dealer. The worst part - it is all legal.

Consumers need to take the time to look around at many different perspective vehicles and all of the financial lenders available. Be determined and become knowledgeable about the car purchasing process and you will definitely be a player in the game.