Buying a car is a big occasion in everyone’s life. Especially if it’s your first one. Buying our own car is a dream come true for most people. And with easy finances options available, it is no longer an unachievable dream. But, often in the excitement of buying a new car, people don’t pay much attention to when to buy a car. Usually, if the finances are in place, one will go and buy a new car immediately. However, there are times when you are unable to buy a model that you want since it doesn’t fit in your budget.
But, what if you knew that timing your car purchase correctly will get you your car at less price? Yes, that’s right. Like all other market car industries also has phases where the same car can be bought at a lesser price.
Here are some of the best times of year to buy a car and save money.
- Quarter Ends – Like all salespeople, car dealers also have targets that they need to meet. And they earn bonuses and incentives when they achieve the target. Quarter-end is the best time to buy a car as a car dealer will be willing to negotiate to close the sale. The quarter ends come 4 times in a year giving you ample time to plan your buying. Planning your purchase around this time will allow you to buy your dream car without exceeding your budget.
- Tax season – Another important timeline is the tax season. Usually, during this season, most people avoid purchases as they end up spending more on tax payment. Thus, the demand for big purchases is less. So, if you are able to plan your finances you can get a good deal on cars during this offseason.
- Year-end – Year-end is a big deal for car dealers. They are in a hurry to close their targets. Also, they have pressure to create space for new models coming in the New Year. And on top of it all, a big bonus awaits them on completion of targets. All these puts together make December the best month to buy a new car and save money. In fact, last week and the day of the year is the most preferred time to buy a car.
- Mid-week – Most purchases happen on Saturday and Sunday. And thus, they are the worst time to make a purchase. On the other hand middle of the week or more importantly, Monday is a better time to purchase your car. The reason is few people purchase on Mondays, giving you a good opportunity to close your deal at a favourable price!
- Keeping track of new model entries in the market – Every year hundreds of new models enter the market. And though earlier one doesn’t become obsolete for common man, it becomes less valuable to car dealers. Thus, knowing when the new model of your desired car is coming out can help you a lot. If you buy your car just before or after the launch of a newer model you will get your car at the lowest possible price.
- Holiday sale – Most car dealers have sales coming up during the holiday season. Keeping track of those will also help you save money while buying a new car.
So, even though sometimes car buying can seem like a daunting task, doing little research and finding out the best time to buy a car will make the process more enjoyable. After all who doesn’t enjoy saving money?!