Best and Worst Times to Buy a Car
Jun 3, 2016
Jun 3, 2016
How do you know that you’re ready to buy a new car? Perhaps you have enough money saved up, or you have a new driver in need of a vehicle to get around. Whatever the reason, it’s important to be smart when car shopping. The make, model, and year of the vehicle aren’t the only factors to take into account–the time of year you shop can have a huge effect on your car’s ultimate price!
Just because you need a new car, that doesn’t mean you should get it RIGHT NOW. Why is that?
You can get a better deal at the end of the month. At the end of the month, most car salespeople are trying to reach their quota, so they’re willing to negotiate for a better deal if it means you’ll walk out with that car.
You can find a cheaper “old model” vehicle. When the brand new model is coming in, most car dealerships will do whatever they can to encourage the sale of the older models. These “leftover” cars are often sold at deep discounts. Try to buy at the end of the year–any time past October!
You can pay less at the end of the day and week. Most salespeople want to finish their week with a sale, so Sunday is the best day to shop for a new car. The same goes for end-of-day shopping! By walking in just before closing time, you can get the salesperson to drop the price more quickly just so they can make that last sale of the day before heading home.
You can find amazing deals on Black Friday. Who cares about electronics shopping? Car shopping on Black Friday is the way to go! Black Friday deals on cars can save you thousands of dollars, and you’ll almost always get amazing deals thanks to the fact that it’s just before a holiday weekend, at the end of the month, and at the end of the year. Plus, everyone else is at the stores, so dealerships will be fairly empty.
You can find rebates all year long. Rebates are a great way to save money on your car purchase. Sign up for the dealership newsletter/emailer, and you can find out when they’re offering rebate rewards on new cars.
You’ll pay more for a new, in-demand vehicle. Buying that car you want NOW can be the wrong thing to do, as it may be a brand new, highly sought after model. No way the dealership is going to lower a price on a popular new car!
You’ll pay more in the spring. Dealers are in no rush to clean out their showroom, and with tax season just around the corner, they’re expecting an influx of people looking to buy new.
You may end up with the wrong car if you buy brand new. Just because a vehicle is brand new, that doesn’t guarantee that it’s top quality. Wait until Consumer Reports releases its reviews of the best new cars before going shopping.