The cost of a car fluctuates according to the month or even the day. Buyers are always looking for a way to save money on major purchases. Once you have decided on your perfect car look for the perfect time to buy it.
If you can wait for the ideal time to buy a car you would be able to save thousands of dollars. Most people think the best time to buy a car is until the new models come out or it can be the end of the year. There are many reasons and theories on this topic and some of them are also true.
Make sure you keep an eye on the calendar so you can take advantage of seasonal factors affecting the car trade and take advantage of the best month to buy a car. So if you are looking for the best time of year to buy a car, here are some dates to bear in mind.
Shop during the weekdays not weekends
Some people believe that Monday, Tuesday and Wednesday are usually the best days to shop for a car because there are not many customers and there is a possibility you can get a deal.
On the weekends dealerships are crowded and it is difficult to get the full attention of the salespersons which could make negotiating a deal more difficult. Mondays are normally the slowest days of the week for car dealers and there is a possibility they don’t want to lose the limited customers and you can negotiate to a favorable price.
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The best month is December
If you will ask any salesperson they might tell you how they have targets to achieve in sales. These targets are often monthly, quarterly, and yearly for the number of cars they have to sell.
This means they have to sale maximum cars to hit their sales goal and receive an annual bonus so they will try their best to provide you the perfect deal. This is the reason December, especially the last week is the best time of the year to buy a car.
There is also a probability you can negotiate further on 31st of December, New Year’s Eve. According to a report you can save up to 8.3% of the price of a new car if you visit the dealership on New Year’s Eve. The reason is the same as they have to achieve their yearly goals so they try to sale maximum cars on the day.
Shop late in the month
It is obviously not possible for everyone to wait till the end of the year to purchase a car sometimes you need a car soon. In this case, you can take advantage of other last deals by visiting them in the last days of the months. Some companies might work on a monthly sales quota that would win them a big bonus.
Salespeople will have more motivation to make a deal with a buyer and might further discount cars to increase their bonus. But this is only possible if they have not already achieved their target earlier in the month. But you can always try your luck and if the dealer offers you a super low price than your research then probably the dealer is trying to achieve his sales goal.
Holiday Sales
There are always commercials running dealers urging you to shop on special occasions to save money. A holiday sale can offer discounted prices when compared to car prices throughout the rest of the year.
The holidays such as Memorial Day, Black Friday and New Year’s Eve are some of the important days for sales. You can find lower prices these days but also expect big crowds looking for the same deals.
Shop when next year’s models arrive
This is another technique to buy at lower prices. Dealerships have limited space and when they get in newer models they need to sell off older stock. This is the time they reduce the prices of older models and you can get a favorable discount. Manufacturers usually release their new models in the summer so you have to be quick to make your move.
Waiting for the right time to buy a car requires patience but it can give you good results. You have to continuously spend on your car to maintain it so it is better to wait for the right day or month which can save you thousands. If you manage to get a good deal then you will have no regrets later.