When Is The Best Time To Buy A Car? – Find Out The Answer Here
Are you ready to buy your favorite car? But, wait! Before reaching any nearby car dealership, did you know that there is a certain best time to buy a car?
In fact, purchasing the vehicles during those relevant times of the year can save thousands of dollars in your pocket.
To understand the relationship between time and profitable financial car deals, let’s delve deeper into the tips explaining- the right time to buy the car.
When Is The Best Time To Buy A Car?
Usually, people aim for good deals while purchasing new or used cars. However, unaware of the seasonal factors influencing the car trade; most of the time, they end up buying their favorite hatchbacks model in one of the most expensive times of the year.
So, if you want to avoid buying a car during the worst time of the year, mark the following dates on your calendar.
1. Watch For End Of The Year
The prime objective of every car dealer, at the end of the year, is to clear the previous stock. Thus, it calls for the huge discounts on the older models.
And, if you’re good at negotiating the car’s price, you may end up saving more than one would have thought. So, next time for a better car deal, visit the stores at the end of the year as dealers try even harder during this period to reach their sales goals.
2. End Of The Month
Likewise, the end of a month is the best time to purchase a car, as most of the dealers have a sales target for a month. And fulfilling those assigned targets mean financial bonuses into their pocket with the next salary.
In other words, for claiming their bonus, they’re even ready to lose some money on a car.
3. During Holidays
Holidays are also the best time of year to buy a vehicle. Dealers believe that festival time or any special holiday is the great time to promote car sales. That’s why, they prefer giving special discounts or cash back offers, during this time of the year. So, why not buy yourself a car this festive season?
-
Look for the Best Time to Buy a Car 4. On Mondays
Some people think that car shopping on weekends or right before they close is one of the best times to buy a car. The true picture is, however, somewhat different!
On Mondays, where one can have more room and time for negotiation, the same benefit is not open on weekends. Therefore, it’s better to visit a car dealer on weekdays and finalize the auto deal at the best price.
SEE MORE:
5. When Dealers Have Special Offers
In addition to the festival and other holidays, you can also get low APR financing, lease specials, or cash-back incentives on special events, such as auto shows. The auto dealers organize such events mainly before the launch of the new car model.
Because, when the dealers have a plethora of old inventory, obstructing the way of the new models; they consider it the most suitable way to clear the old stock.
6. Month Of May
Most of the car buyers prefer visiting the showrooms during the start of any season. That’s why the beginning of the springtime is not good to buy a car as people in majority jump into the stores to buy the new one.
However, in case, one enters the store during May, special deals on car purchase can be expected because a large part of the population remains busy during this time. For that reason, May is voted as the best month to buy a car.
7. Before You Need Another Car
It’s a fact that when an individual has time pressure and needs something immediately, it makes him/her stand on the weaker side of the negotiation. Therefore, one must go car shopping, when they have plenty of time.
8. When People Are Desperate To Sell
Under such conditions, you can encounter two types of owners, one who are emigrating to another nation, and second, who are selling the old car to buy the new one.
In both the cases, if the seller is looking for an immediate buyer, go ahead for it as it is the best time of year to buy a used car! However, be sure about the car components, before settling down for the final deal.
-
Selling time is the best time to buy a car. Cre: Shutterstock
Gaining this industry knowledge can now possibly make you understand the best time to buy a car. So, whenever you get such an opportunity, quickly rush to the nearby car showroom and buy the one fitting your garage.
Important Negotiation Principles To Bear In Mind
Besides picking the best time to buy a car, you also need to be smart when making your purchase as you will have to face many tricks from the salesman. To avoid these tricks, keep in mind key negotiation and buying principles below:
1. Set Your Budget And Stick To It
In most cases, the salesman will always try to sell a car at a little bit higher price than your budget (by adding trim options and features you probably don’t need or want), especially by using monthly or creative financing payment methods.
To avoid overpaying, an important thing you should do is to stick to your budget and only pay extra money for needed features.
2. Ask Multiple Car Dealers
It is also important to contact all dealerships in the area that sell your desired make and model. They will offer you their best price and you can base on it to find out which showroom can give you the best deal.
You can entirely do this job by making some phone calls or emails, with sheets or quotes delivered by email or fax.
3. Never Buy From The First Date
If you can not ask multiple dealers about the car price, don’t make your purchase from the first time you visit the dealership.
Make that fast and hard rule as you will begin feeling pressure, you will like the salesman and think he is a good person who understands your needs deeply.
As a result, you will feel like it is too hard for you to walk away, but walk. It gives you more options later.
4. Bring One Of Your Friends
It is recommended to bring a friend to the car dealership with you. Even if he or she doesn’t have knowledge about cars or purchasing experience, it is essential to go with more than 10 people, particularly if he or she is deeply cynical.
5. Buy It
After you decide to purchase the car, be sure that you check the sales contract carefully to avoid the situation where the salesman implements some things you did not agree to. This case rarely happens but you still need to be carefull.
Watch the video below from Honest Finance to learn how to negotiate a car deal like a pro!
Hopefully with the information above you can find out the best time to buy a car suitable for yourself. If you have any questions, feel free to leave it in the comment section and then we will discuss further.