The best time to buy a car is, of course, when you need one. If the old car is starting to cost more in repairs, towing, and missed days at the office than it is worth, than it is probably time to take a look no matter what time of the year that it is.
On the other hand, if you have planned a bit ahead and can make that move when it is most beneficial to you, then here are some ideas that can save you a little cash.
At the end of the year
Like any other economic “rule”, the law of supply and demand really controls these transactions. At the end of the year, many dealers are looking to reduce their inventories for several reasons. Among them is that there may be some remaining old model year vehicles. Other reasons are tax related. And to top it off, most car buyers will be happily situated at home, in front of the fireplace enjoying family, football and feasts.
What the means is more supply, and less demand. That combination is the perfect storm when it comes to negotiating a good deal for your new auto.
What about the end of the summer
A similar situation occurs as the summer comes to an end. Buyers are still stretching out those relaxing summer days and the car sales folks need customers. Lower demand, means that you as the buyer will have a better shot at a really good deal for that new car. Go into your car dealer in late summer and you will likely find one of the best prices of the year,
Consider the end of the month
Every car dealer has quotas for each sales person to reach. As the end of the month approaches there will always be someone on the sales staff that needs to make a couple of additional sales to meet their requirement. Walk into the sales floor and the hungriest sales person will be at your side. Take advantage of the cold facts that they need you to buy and will fight to get you a deal that might not have been available only a couple of weeks earlier, or even in a week or two when the month is closed out.
Odd occurrences can be to your benefit
Just after a big snowstorm there will be few buyers out looking for a new car. But the rent and the electricity at the dealership continues on. You can take advantage of those conditions if you can get out, brave the weather and show up. With fewer competing customers the demand is temporarily lowered and you can take advantage. This can be even more true if it is at the end of a month when sales quotas are coming due.
The price of a new car isn’t just the sales price. It almost always includes the price of financing the purchase. Apart from anything else, specials on the interest rate that you will carry on your car loan can make a bigger difference than a few hundred on the negotiation of the price. It affects the payment you make every month for five years – what a savings.
Take advantage of these specials when they come along and you will find that the purchase of a new car not only provides a reliable, fun new ride but it will also leave a few extra bucks in your wallet at the end of the month.