Finding the perfect car is exciting, but buying it at the right time is crucial. A car’s price may change by the month or the day. If you can wait until the ideal time to make a purchase, you may be able to save a substantial amount of money. Here, you’ll find a few tips on buying a car at the right time.
Shop Later in the Month (or Year)
Dealers are typically anxious to move stock on the last couple of days of the month. However, sales deadlines don’t always come at the right time, and walking into a showroom on the 30th or 31st may not get you the deal you’re looking for. Try shopping a few days earlier, especially in February.
Car dealers have monthly and yearly sales quotas, which come together as the year is drawing to a close. October, November, and December are great months in which to buy a car, as salespeople are working with their quotas in mind.
Focus on Holiday Sales
Every year, we see car dealer advertisements urging us to save for the holidays. It’s not pure salesmanship; these sales can actually offer significant discounts. Consider shopping on the following holidays to find a great deal on a car.
- Memorial Day: Summer is usually the costliest time to shop for a car, but most dealers slash prices around Memorial Day. New models come out around mid-year, which means current stock has to move quickly.
- Black Friday: Car dealers aren’t immune to the Black Friday hysteria. Shopping for a car at that time may help you save, but you’ll have to deal with big crowds just as you will at other retailers.
- New Year’s Eve: If you can fit it into your festive plans, New Year’s Eve is the perfect day to buy a car. Salespeople are up against monthly and yearly quotas, and meeting those goals may earn them a substantial bonus. This may make finding a great deal much easier.
Shop Last Year’s Models When New Stock Arrives
If you’re not in a big hurry to buy a new car, consider waiting for a closeout or end-of-model-year sale. Dealerships only have so much space, and when new models come in, the old ones must go. If you can wait until then, you may get a newish model at a steep discount. However, others are catching onto this strategy, and you’ll have to act fast to get a deal.
Avoid Shopping on Weekends
Buy here pay here dealerships tend to be more crowded on weekends, simply because more people have the day off. Stopping by on Saturday or Sunday may mean getting less attention from overworked salespeople, which makes negotiations tricky. However, if you shop on Monday, Tuesday, or Wednesday, you’ll deal with less customer traffic and you’ll be in a more favorable position to negotiate.
In Closing
It takes a great deal of patience to wait for the right time to buy a car. If you can wait, time will definitely be on your side. Almost all cars depreciate, and waiting for the right day, week, or month may help you save hundreds or even thousands. After all, the only thing better than that new-car smell is the knowledge that you paid less to get it.