When Is the Best Time of Year to Buy a Car?
Getting a good deal on a car depends on the right timing. Do you know the car prices fluctuate and they might change once in a week or month? If you are planning to purchase a new car and want to save money, you need to purchase the car at the right time. So when is the best time of year to buy a car? Read on to find out.
Buy a Car at the Start of the Week
If you look at car buying trends, you will find most people buy a car on the weekends. The reason is they have more leisure time for such purchases. This trend works against you when you are purchasing a car. If you visit any car dealerships, you will find more of a crowd in comparison to the start of the week. The result is the car demands rise and the salesperson is less likely to negotiate or offer a deal favorable to you. Also, salespeople will be busier with customers on weekends and they may have less time to speak to you. If you go to the car dealership at the start of the week (Monday to Wednesday), you will find fewer customers and the salesperson will be more attentive to you. It also means the salesperson might also offer a lower price to strike the deal.
Plan Your Car Purchase at the End of the Month
Car dealerships have a monthly sales target to achieve. Car manufacturers are known to pay hefty sales bonuses to dealerships who achieve their sales target. If sales have been not good for a car dealership, you are more likely to get a good deal for your car purchase when you visit the car dealership at the end of the month. This sales strategy is followed by most car dealerships to achieve their sales target.
Buy A Car in December
Just like the monthly sales target, the car dealership also has to achieve yearly sales target. If the car dealership has not been able to achieve its sales target for one or two months in the year, they are more likely to organize a sales event at the end of December. This way they can attract customers, achieve their annual sales target and qualify for sales bonuses offered by the car manufacturer.
Wait to Purchase A Car Until New Models Arrive
Every year car manufacturers announce new models by fall and the newer models are available for sale by the spring or summer. Before the new models arrive, car dealerships are under pressure to move the older inventory. Many car dealerships will offer deep discounts and good financing terms on older models to clear the inventory.
By waiting for the right time to purchase a car, you can save thousands of dollars on your favorite model and probably get better financing terms, too.