When Is the Best Time of Year to Buy A Car?

When Is the Best Time of Year to Buy A Car? 

When you're contemplating buying a new car, there are several essential factors to consider. One of the most important factors is the price you pay for the car of your dreams or for one that's perfect for your current needs. Apart from looking at the listed retail price, the various insurance plans, and the different financing options available to you, the time of year you choose to buy your car can determine how much savings you can churn out. Timing of your purchase can mean a difference of thousands of dollars!

Choose the Right Month

The right month to buy a car is undoubtedly December. The reason being that it's the end of the year, the time when annual accounts are wrapped up and also the time when year-end bonuses and incentives are given.

So, the bottom line is that everyone in the auto business will be eager to raise their 'achieved' sales numbers to qualify for a nice year-end bonus. That's why you should take advantage of this time of year, specifically Dec. 26-31, to make your purchase.

Another reason why December is the best time to buy a new car is that most new car models come out at the beginning of a new year, i.e., in January. If this is the case with the vehicle you've decided to buy, dealerships will be eager to unload stocks of the older model to make room for the new model. So, stay aware of what models are set to come out and when. It will help you negotiate a fantastic discount with your dealer.

Quarter End Rush

Just as the year-end brings with it a flurry of activity to clear stocks, each quarter will have its own sales targets set by each car company. So, as with the end of the year, dealers and salespeople will be more willing to negotiate a lower price for your new car, at the end of every quarter. It means that the last few days of March, June, September and of course December, every year are times when you can get salespeople to see things your way and offer you some discounts.

Choose the Right Day of the Week

As with the month of the year, the day of the week that you visit the dealership is also equally important. It's only because most people decide to visit a dealer on the weekends rather than during the weekdays when they probably don't have as much time. This being the case, dealers see a lot more activity on the weekends and so do not have to offer many discounts on the cars they're selling. On the other hand, Monday is the slowest day of the week. Thus, it's an excellent time for you to walk into a dealership and negotiate a good offer for the car of your choice.

Be aware too that any time there's a rush to buy new cars, dealers will drop discounts and keep their prices high. So, avoid springtime and weekends to make your purchase.