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When Should You Make Big Purchases?

April 16, 2019 · 5 minute read

We’re here to help! First and foremost, SoFi Learn strives to be a beneficial resource to you as you navigate your financial journey. Read more We develop content that covers a variety of financial topics. Sometimes, that content may include information about products, features, or services that SoFi does not provide. We aim to break down complicated concepts, loop you in on the latest trends, and keep you up-to-date on the stuff you can use to help get your money right. Read less

When Should You Make Big Purchases?

Browsing for bargains can be thrilling. The rush of scoring a great deal on something you’ve been coveting is exhilarating. And knowing you got exactly what you wanted and spent less money than you were anticipating makes bringing your new things home even more satisfying.

For small things like clothes, toys, or food, you can find deals fairly frequently, but what about major purchases like electronics, furniture, or even a car? For most big-ticket items there can be certain seasons or even weekends where you can reliably find great deals.

We’re rounding up some of the biggest purchases and a good time to buy each item, so when the time is right, you know exactly what to look for.


If you’re interested in upgrading your home viewing experience, waiting for a sale could mean you score serious savings on the model you’ve had your eye on. There are a few times of year that TVs commonly go on sale . One great way to score a deal on a new TV is to follow the release cycle.

Most television manufacturers release new models sometime between February and April every year, and while you could pick up the latest model, you could also find dramatic price cuts on last year’s models since retailers are looking to make room for newer inventory.

You can also find discounts on televisions in advance of events like the big football game in February, during Black Friday and Cyber Monday.


Buying a laptop can be a very personal choice and the demands you place on your computer may require more processing power than others, so it’s important to determine what you need out of a laptop before you begin browsing at different brands and models. Deals may vary depending on the model that you need.

Macbooks and other Apple products usually get an upgrade once a year , though they don’t always follow a consistent release schedule, or release all new products at the same time.

Major PC manufacturers generally release new laptops three times a year —back-to-school season from June to September, holiday season from September to December, and spring from February to April. However, the best deals on laptops tend to appear at the heart of school shopping season from July to August and from November to December, the peak of the holiday shopping season.

Outdoor Furniture

A great time to shop for outdoor furniture is generally when you won’t actually be able to use it. Typically, patio furniture goes on sale from August to October , as retailers are trying to clear their inventory to make room for fall inventory. Usually the further you are from summer, the bigger the savings.


A mattress can be quite a major purchase. It has the power to potentially improve your quality of sleep, or could result in backaches and sore necks. Finding the perfect mattress means comfort, relaxation, and most importantly a restful nights sleep. So finding a supremely comfortable mattress and at a low price would be a huge win.

When buying a mattress there are a few times of year you can target to find reliably low prices . May is one of the best months to buy a new mattress. That’s because most sellers launch new models in June, and are eager to make space for the newer inventory.

It’s also worth looking for deals over popular shopping holidays, including but not limited to Memorial Day, Labor Day, and President’s Day. And don’t overlook Black Friday and Cyber Monday, where you can often find reasonable prices and good deals on mattresses.


If you’re ready to spruce up your interior design with some new furniture there are two times you can look to find some major sales. The best time to buy furniture is typically either in January or July. Usually, new styles are released twice a year, in February and August.

In January and July, retailers are eager to clear space for those new arrivals, so prices will generally be discounted. Floor models may be included as well, so you could ask about discounts on sample pieces.

And for an even better deal? Don’t be afraid to haggle! Many furniture stores are willing to negotiate, so it may not hurt to ask them to sweeten the deal with a discount or freebie.

Engagement Rings

The thrill of falling in love and finally finding your match is invigorating. The cost of buying an engagement ring to make it official? Not as exciting. Last year, Americans spent an average of $6,324 to buy an engagement ring. If the thought of dropping a few thousand dollars on a ring is less than thrilling, it could be worth planning your purchase so you can wait for the optimal time to buy.

If you’re serious about finding a good deal on an engagement ring, winter is a great time to shop . Some may even be willing to negotiate on price to make the sale.

Household Appliances

Major household appliances like dishwashers, washing machines, stoves, and refrigerators can be expensive, so it makes sense to look out for discounts before you commit to a new model. Some great discounts on appliances can be found from September to October when manufacturers are releasing their latest product.

Retailers will be trying to make room for newer models so you can often find considerable discounts during these months on new, but last year’s models. When it comes to refrigerators, the best time to purchase is usually in that spring, as that is when manufacturers release new models.

Holidays and Holiday weekends are another great time to look for sales on household appliances. And if you plan on buying a new appliance from a brick and mortar store, it could be worth going toward the end of the month when salesmen are trying to meet their monthly quotas.

Fitness Equipment

Have your eye on a new treadmill or elliptical? January could be the right time to buy new exercise equipment as stores are eager to take advantage of New Year’s resolutions to get fit or lose weight.


Dealerships generally offer great deals during year-end sales events. Some dealers anticipate cars as gifts for the holidays. Car dealerships are also looking toward the new year, which means they’ll need to make space for newer models on the lot. For some dealers, December is one of their biggest sale months.

You may also secure a good deal on a new car during holiday weekends when dealerships run promotions. Dealerships are also more likely to offer a deal on older models, anticipating a new release. Typically, new models are released in September and October, so try to look for deals in late August.

Paying for a Major Purchase with a Personal Loan

Even timing your purchase to secure a deal at peak savings can mean a hefty bill. Instead of charging the expense to your credit card, consider applying for a personal loan with SoFi.

With a personal loan, you’ll have access to the money instantly and generally at a lower rate than most high-interest credit cards. At SoFi, there are no origination fees or prepayment penalties and you can apply easily online.

A SoFi personal loan can simplify the payment process for most major purchases. Get a quote in two minutes or less.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third party trademarks referenced herein are property of their respective owners.

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