Black Friday May Be Best Day to Buy Car

(MYFOX NATIONAL) - If you missed out on Cash For Clunkers, you might be able to look forward to another day for big car discounts -- Black Friday.

Money.com reports that the day after Thanksgiving is the best day to get a good discount on a new car. According to researchers at TrueCar.com , the average new car discount on Nov. 27 is estimated to be 7.5 percent. The average discount the day before and after is expected to be just over 6 percent. Normally car buyers pay 4.7 percent less than the sticker price.

TrueCar.com's Jesse Toprak said that while precise discounts won't be known until the day you go in to negotiate your price, there has been a clear trend that indicates good deals are to be had on Black Friday.

"The discounts from dealerships, as well as manufacturers' incentives, generate the highest discounts of the year on Black Friday," Toprak said.

TrueCar estimates that specific models will likely see the best deals -- 28 percent off sticker price for a 2009 Suzuki SX4 compact car, 26 percent off for a 2009 Nissan Titan or Ford F-150 pick-up and 20 percent off a 2009 Hyundai Sonata sedan.

Many car dealers plan to advertise the discounts around the Thanksgiving holiday to get consumers through the door. Black Friday also happens to fall at the end of the month and close to the end of the year when dealers are pressed to move more 2009 models.

Autoloandaily.com recommends consumers do their homework before entering the dealership -- find out the dealer invoice price on the cars you're considering and try to get pre-approved for financing so you can see if the dealer can beat what you were already pre-approved for.