When you’re buying a new car, you want to consider the timing of the purchase. There are certain times of year when it is possible to get excellent deals because prices become a little more flexible. Alternatively, there are particular times of year when car dealerships can afford to be less willing to negotiate.
You generally want to avoid buying a car during those times. Planning your purchase strategically using insights from the automotive industry helps you get the best deal on a car. The following tips will help you plan your purchase so that you’re buying at the best time.
Wait for Year-End Closeouts
Most car dealerships offer deep discounts at the end of the year. These year-end closeout sales sometimes run through the beginning of January. It is usually possible to get the best price on a car during this time for two main reasons. On the one hand, fewer customers are buying cars during December and January. On the other hand, dealers often need to get rid of old inventory to make room for new shipments. Take advantage of this buy saving up a large down payment and buying around Christmas.
Why People Tend to Avoid Car Shopping in December and January
December and January aren’t popular months for car shopping. The holidays create so many extra expenses that many people tend to avoid buying vehicles at the time. Most people are too busy gift shopping to go car shopping even if they can afford it. The cold weather is another deterrent. It is simply not as fun to go car shopping when it’s cold outside. However, during this time of year, the people who are out buying cars can often secure the best deals.
Why Dealers Offer Great Prices in December and January
One reason that dealers are willing to negotiate with customers around the holidays is because there are fewer buyers. They need to make sales, so they are less likely to play hardball at this time. Also, with the new year’s models arriving, dealerships need to make room for new inventory. They basically have fewer customers at the exact time when they need to be getting the old inventory out of the way. This is great news for bargain hunters.
Months to Avoid Car Shopping
When you can’t wait until the end of the year, it’s good to avoid the worst months for car shopping. There are certain times of year when it’s best to avoid car shopping if you can wait for a better time. Spring is the absolute worst time to buy a car. So many people are eager to use their tax refunds to use as down payments that the market is flooded with buyers. Dealerships have less incentive to work with you on prices. Because of this, they’re not likely to give you the deals that you could get during less busy seasons.
Best Times of the Month to Buy a Car
Just as there are best times of year to buy a car, there are also best times of the month when better deals are possible. Because of sales quotas, you’ll almost always get a better deal at the end of the month than at the beginning. This holds true no matter which month you decide to purchase your new vehicle. With sales goals to meet and a short time in which to do that, dealers tend to be far more negotiable at a month’s end. At the beginning of a new month, they have a fresh start. If you can’t wait for the end of the year, try to at least wait until the end of a month.
In general, the best time to buy a car is when fewer people are trying to do so. This means that waiting for the year-end sales will get you the best deals. It also means cashing in that tax refund at the dealership will get you the worst deals. If you can’t wait for the holidays, at least wait until the end of the month.
Getting the best deal requires a little strategic planning. Be ready to purchase when car dealerships are desperate to make sales. This puts you in the best position to negotiate.