Buying a car isn’t something you should do on an impulse. Just like any other major purchase that you spend a substantial amount of money on, it needs to be well thought through. In addition to that, you need to plan way ahead if you want to get the most out of it.
Naturally, you want to get a good deal rather than overpaying the vehicle. Whether you get a good deal or not depends on several factors, and perhaps the most influential one is the timing.
According to car-buying experts, if you wait just a few months to make a purchase you can literally save a thousands of dollars. As with pretty much anything, the timing is crucial as prices may fluctuate significantly throughout the year.
End-of-Year Sales
Car dealerships tend to lower the prices when they want to get rid of the old models, and around holidays to motivate buyers to act.
That leads us to the conclusion that the best time of year to buy a car is at the year’s end. At this time, the prices start to drop and dealerships offer discounts. While no one can guarantee you’ll find exactly what you’re looking for, the last couple of months are usually the prime time for drivers to find the best bargain.
At the end of the calendar many dealers need to reach a certain annual quota and that means they need to sell. Drivers looking for a good price should take advantage of this opportunity and save some money along the way.
Leftover Models
If you’re on the hunt for a good price on a last-year’s model, then end-of-year sales are definitely for you. For those of you looking to purchase the most current model, this is also a great opportunity as long as the model is out.
By the time the new models arrive, the dealers need to get rid of the current models, and that’s where you step in and seize the day.
These vehicles are still brand new and unused, just that the even newer ones are arriving to the lot, so the ‘old’ ones need to go to make room for the new collection. This is a great chance both for you as a buyer and for the sellers to fulfil their annual quota.
Contact Your Dealer
New models come to the scene already around August or September, or sometimes even later — depending on the dealership. If you’re not sure, you can check this out by contacting the dealer and asking them about the specific models you’re interested in. Make sure to let them know that you’re ready to purchase the vehicle if the price is right, of course. Car dealers usually offer great customer cash rebates for the leftover models. What’s also important to bear in mind is that you shouldn’t wait too long either. When the older models are up for grabs, time is of the essence. If the price is right, don’t wait up too long to make up your mind or someone else might get to it before you.