SANTA MONICA, Calif. (12/19/14)--While the week between Christmas and New Year's is viewed as a bit of a break for many, it will be the busiest car-shopping week of the year, according to Edmunds.com--and a prime time for credit unions to make vehicle loans.
Dubbing the week "New Car, New Year," Edmunds.com projects that new car sales during the final week of December will be 78% higher than the average a week earlier in December, while typically the last week of any month averages just 40% higher than the sales in earlier weeks.
"The final week of the year, between Christmas and New Year's, is a particularly exciting time for car shoppers," said Philip Reed, Edmunds.com senior consumer advice editor. "As the dealers look to sell the last of their 2014 model year vehicles, car shoppers will have the opportunity to choose from a wide range of cars at affordable prices."
The company also noted that December is typically one of the most popular months for luxury car shopping, thanks in part to all of the marketing messages presented by some of the higher-end brands looking to close out the older model year inventory.
Edmunds.com offers these tips for holiday car shoppers: