When Is the Best Time to Buy a New Car?
The best time of the year to buy a car can be tricky to pinpoint. In many cases, you can not sit around waiting for months on end to get the best deal. However, knowing a few things about the auto market can give you an insider look at how to time it just right for your specific needs.
A New Car For Christmas
Nearly everyone touts the best time of the year to buy a new car is the end of the year. Dealerships have weekly and monthly sales goals, but they love nothing more than to wrap up the end of the year sales figures strong. The sweet spot for buying a new car is the time in between Christmas and New Year's, however, most dealers include the first few days of January into their prior year sales. So the savings could last up until January 4th.
Can't Wait Until Christmas?
Who wants to spend all their money on a car at Christmas time right? Labor Day is the runner-up for best times to buy a new car. Manufacturer rebates and or car loan interest deals are usually increased at Labor Day. The new model year is in full swing and dealers want to get rid of the expiring models. Typically, more options will be available to the buyer over Labor Day than at the end of the year. Saving is great, but if you are picky at all about your exciting new car purchase, you might want to buy earlier in the year versus later.
Need a New Car Right Now?
Sometimes buying a new car cannot be put off until the end of the year. What can you do? Some people say to buy at the end of the month, end of the week, and the end of the day. Catching the dealer at a slow time can make a difference, too. Some suggest a rainy or snowy day as a good time to make a purchase. Just remember, car salesman are used to flexing their schedule in order to make a deal, so these tactics are not going to be as successful as waiting until the end of the year. A new car salesman may be under pressure to make a sale in order to keep his job.
The more hungry and anxious the salesman, the better likelihood of getting a good deal.
The Worst Time to Buy a New Car
You do not want to be the person ringing the bell on the car showroom floor on the morning of the first day of the week in any given month. If you are looking to save money, avoid the new year role out cars. Always buy last year's model in order to save the most. Do not wait to be the one desperate to buy, be the one buying from a salesman desperate to make a sale.