Whether you’re in the market for a new or used car, timing is everything. You want to make sure you’re getting the best deal possible, and that’s not always easy to do. So, what is the best time of year to buy a car? Keep reading to find out.
When Are the Best Times to Buy a Vehicle?
Savvy shoppers are always looking to save money, especially on big purchases. If you need a new appliance, for instance, it’s prudent to wait until Black Friday. If you want to get the best auto loan rates, there are plenty of steps that you can take. But what about the actual purchase of the vehicle itself? When is the best time to buy a car? Here are some valuable tips:
1. The End of the Month
One of the best times to buy a car is at the end of the month. Dealerships are often trying to meet sales quotas, and they may be more willing to negotiate. Salespersons have more motivation to get deals done and might be amenable to giving significant discounts to potential buyers. However, if the dealership’s sales team has already reached their quota for the month, they may be less likely to negotiate.
If you are not confident about buying a car in such a short period, you can check out the vehicle you want at the end of the month. You can even test-drive the car a few times to get a feel for it. If you’re convinced that the vehicle is the right one for you at the end of the month, you can go back to negotiate for the best deal.
2. The End of the Year
Like the end of the month, the end of the year is also a great time to buy a car. Car dealerships are often trying to clear out their inventory to make room for new models. You can take advantage of these deals by getting an excellent price on a vehicle from the outgoing model year.
In addition, December is often when dealers want to end the year with solid sales. This means they’re likely to offer superb discounts and incentives. You should try to take advantage of these offers, but make sure you’re not being taken for a ride. If you’re not comfortable negotiating, bring along a friend or family member who is.
3. Try to Purchase a Car Early in the Week
One excellent tip is to try and purchase your car early in the week. Dealerships are busiest on the weekends, so they may not have as much time to focus on each customer. If you can, try to go as early in the week as possible. Try to go on a Monday even. There will be less foot traffic on the showroom floor, and you may find that the sales team is more willing to work with you to get the deal you want.
4. End of the Model Year
The end of the model year is another excellent time to buy a car. Car companies often release new models in the fall, so dealerships are looking to get rid of their older inventory. This means that you can often find excellent deals on vehicles from the previous year. However, you need to be careful not to get a lemon. Make sure to test-drive the car and look closely at its history. If everything looks good, go ahead and take advantage of the low prices.
5. End of Design Cycle
Another time when you can snag a great deal on a car is at the end of the design cycle. Car companies often release new models every few years, which means that dealerships are looking to get rid of old cars on their lot. You can find great deals on cars from the previous year or two at this time. Again, take the care for a test-drive the car and check its history before you buy.
6. Black Friday
Think again if you thought that Black Friday was only for appliances and electronic devices. Car dealerships also offer great deals on Black Friday. In fact, some car companies will only sell their cars at a discount on this day. If you’re looking for a new car, Black Friday is definitely the time to do it.
The Bottom Line
These are just a few of the best times to buy a car. If you’re looking for a great deal, keep these tips in mind. With a little bit of patience and some negotiating skills, you can get the car you want at a price you can afford.