Time can be on your side when it comes to buying a big-ticket item.
By planning your shopping around certain seasons and events, days of the week, and tax holidays, you can unlock significant savings on pricy items such as cars, plane tickets, appliances, mattresses, furniture, and electronics.
Having the knowledge—and patience—to wait a mere few months before you buy can bring considerable benefits, says Meredith Stoddard, vice president, education at Fidelity Investments. She gives the example of purchasing an item during a year-end clearance sale instead of in late September.
But before whipping out your credit card to snag that new sectional sofa or big-screen TV during a sale, it's critical to do your homework. Research the typical price range of the item you're interested in buying before any upcoming sales event, as some retailers inflate baseline prices and then offer big discounts to create the illusion of incredible bargains.
"Get an understanding of the price, so you'll know if it's actually a good deal," Stoddard says. "Don't get too focused on that 30% or 50% off promotion, as the price may never have been that high in the first place."
Keeping Stoddard's advice in mind, here's how to time your purchases to score some real deals.
The best time to buy a car
"The common wisdom on car buying is to do it at month's end or year-end as salespeople are trying to make their quotas," Stoddard says. Meeting or beating a quota often comes with a financial reward for the salesperson, so they can be highly motivated to work with your budget to make the sale.
If you can, try to hold out until the year's end. "You'll generally get a better deal at year-end because it's the end of the model year," adds Stoddard.
If you buy in late 2024, for instance, most dealers will want to clear out those models to make room for the new 2025 vehicles. Opting for last year's model in the first quarter of the next year, such as buying a 2024 car in 2025, typically brings even lower prices.
And while timing can pay off, ultimately, the best time to buy a car—or any other major purchase—is when you have a genuine need, rather than just a want, stresses Stoddard.
"If you're buying a new car every 10 years instead of every 5 years, then you're going to save a heck of a lot more money," she says.
The best time to buy plane tickets
To save money on airline tickets, it's important to factor in both when you buy the tickets and your actual travel dates.
According to Expedia's 2024 Air Travel Hacks Report, you can save money by booking domestic airfare 28 days before departure. For the best deals on international flights, book around 60 days in advance—yet no more than 4 months out.1 Expedia also found that travelers who book on Sundays can save the most money while booking on Fridays tends to bring more expensive prices.
When it comes to your actual travel dates, the more flexibility you have, the better deal you're likely to get, notes Stoddard. Your best bet is to use a travel-related website or app to explore the prices that come with different flight times and days. Bargain hunters can stay on top of potential deals by signing up for alerts from sites that track flight costs and notify you when there is a price drop.
You can also save money by planning your trip during the so-called "shoulder season," the transition weeks between peak and off-peak travel. And in general, you'll get the most bang for your buck if you fly on a Tuesday, Wednesday, or Thursday instead of other days.
For more tips, read Smart Money: When is the best time to buy plane tickets?
The best time to buy appliances
Many appliance retailers hold sales around holidays such as Presidents' Day, Memorial Day, Independence Day, Labor Day, and Veterans Day—as well as the Friday before Thanksgiving (Black Friday), the Monday after (Cyber Monday) and even Thanksgiving Day itself.
Some manufacturers also create their own seasonal sales events, such as Maytag's "Maytag Month" sale in May, where shoppers can get deep discounts on major appliances.
If you live in a state that offers tax holidays, which is when state sales tax is suspended for specific items for a limited period, you can also save on qualifying appliance purchases. Those savings can range from 3% to 7%, depending on the state in which you live and whether your state participates. Stoddard notes that some retailers will extend the discount period to before and after the official state sales tax holiday has ended, still providing the same discount to lure a larger number of customers in over a longer period of time.
Another time-based strategy to capitalize on: When new models are released, you can often get a discount on a slightly older appliance as manufacturers clear out the existing inventory to make room for newer products.
Read Smart Money: When is the best time to buy appliances?
The best time to buy furniture and mattresses
As with appliances, many retailers offer discounts on furniture and mattresses around major holidays and hold end-of-year and end-of-season sales to create space for new inventory.
You can also get a tax break if your state offers a tax holiday, and your items qualify. In addition, some furniture and mattress retailers will extend the official tax holiday or create their own "tax break" discount periods that are promotional events, rather than a government-mandated tax holiday.
Some major furniture and mattress sellers also create their own branded holidays where they provide deep discounts for a select time, such as 48 or 72 hours. Rivals of those retailers often host special sales of their own at the same time to compete for customer attention.
You can also save money by capitalizing on Friends & Family, Anniversary, and "Christmas in July" sales events.
The best time to buy electronics
In addition to looking for electronics during tax holidays and major holiday sales, you can often find discounts through back-to-school sales in July, August, and early September, as well as during the November and December holiday buying season.
When it comes to TVs specifically, many sellers offer Super Bowl-related sales just before the game, which takes place on the second Sunday in February.
On the timing front, there's also a time not to buy electronics, especially smartphones: "Don't purchase a new phone the day it comes out," Stoddard cautions, as the prices will be steep. "Buy the leftovers from the year before or keep your current phone another year or two. Just doing that will make a big difference in your spending."