It Is Currently a Good Time to Buy a Car

When it comes to buying a new vehicle, timing is critical. When you buy your car could mean the difference between saving up to thousands of dollars and getting a rotten deal. Throughout the year, you may be barraged with dealer advertisements about model-year-end deals, rebates, calendar-year-end deals, discounts, and other promotions. So, you may ask yourself, when exactly is the best time to buy a new car? In this post, we’ll help you answer that question.

The Month’s End

Almost all dealerships establish sales quotas that compel their salespeople to make a certain number of sales each month. As a result, the closer it gets to the end of the month, the hungrier and more desperate sales people get to close a deal. Their bonuses usually depend upon it. The last weekend of the month is usually an excellent time to buy. Keep in mind that salespeople have different approaches, and you may get a salesperson who is eager to give you a good price or one who will use high-pressure tactics to get you to commit before you’re ready. The end of the month is the best time to buy, but not necessarily the best time to shop because the salespeople can be overzealous and pushy. Make sure you have a plan prior to visiting a dealer.

Model Year End

The majority of manufacturers roll out their new-model vehicles toward the end of summer and continue launching new vehicles into the fall and sometimes into the winter. Consequently, the end of the summer when the model year is coming to a close is an opportune time to buy a vehicle because dealers are eager to move the older-model cars off the lot. The advantage of buying at the end of a model year is that you can negotiate a considerable discount. On the downside, however, you will be purchasing a car that will take a year’s worth of depreciation the moment you take it off the lot. If you tend to trade your cars in only two or three years after buying them, your will be valued as older than it really is. However, if you usually run your cars into the ground, short-term depreciation is probably irrelevant in your situation.

Calendar Year End

Similar to the close of the model year, the end of the calendar year tends to produce desperation in car salespeople and an uncharacteristic willingness to negotiate good deals. Salespeople are eager to meet year-end quotas and may also have leftover older-model vehicles that they want to unload. Finally, they also tend to want to unload as much inventory as possible before the winter hits, as that is typically their slowest season.

Additional Resources:

• The Best Time to Buy a Car
• Good Time To Buy A Car?