Monschau is my favorite place in all of Germany so you can bet that I went to the Christmas Market!
The parking situation is a bit unique. You can try to find parking (hahahaha, yea right!) just outside of Monschau, or you can take the easy way and park in the designated bus areas. 5km from either side of the city is a well marked parking area that you can use. We chose the one in Hofen and parked for free at a park. From there we walked a few hundred feet to the bus stop that was marked for the Christmas Market Park and Ride. The cost of the bus is 3€ per person and when you pay they will give you a ticket for your return trip. The buses come by every 10-15 minutes and the ride is about 5 min long.
Between the shops and the market booths, you will have a few hours worth of stuff to do. Especially if you have never been to Monschau before. I do recommend you go again when the market is not here because it is a beautiful place. You can read more here.
Here At Gk 