Thinking of Buying a New Car? Here’s the Best Time to Score the Perfect Deal
It may seem simple when you think about it, but when you finally get to doing it, you notice just how difficult of a task buying a car really is. There are literally endless options available, and settling on one is easier said than done. There’s also the issue of cost, so no matter the specs you’re looking for in a machine, you have to find one that fits within your budget.
As soon as you’re in a showroom, the salesperson will be keen to have you forking out your money soonest possible, and you know just how convincing these guys can be. You may be totally sold on the idea of this and that car thanks to their sweet tongue, only to find out much later that you got played.
Nothing stings harder than that, right? By getting yourself the best deal though, you can turn the hectic buying process into one of the achievements you pride yourself in. The way to do that is by buying a car at the perfect time.
Timing Is Everything
For most ventures, timing is everything. When it comes to buying a car, senior editor for Cars.com, Kelsey Mays, says that it could be the difference between overspending and saving hundreds of dollars. Fortunately for us all, the editor lists the best times to buy one, guaranteeing the best deals at said times.
As Mays puts it, December has been known to be the month where discounts are guaranteed. The senior editor credits this to car dealerships looking to meet their end-year goals, and also clear out the outgoing models of the year.
According to data provided by Cars.com, December has been the best month to buy a car for four of the past six years. This statement holds true for even luxury brands that are not known for big incentives, with the month having them offering juicy deals.
Throughout December, you’ll notice lucrative deals from car sellers, but the best ones come in the week following Christmas and just before New Year’s. Discounts soar highest at this time as salespersons aim to hit their quotas, and this has been the trend for the past few years.
It Starts Much Earlier
And while the last month of the year is when most of the dealerships are in a rush to clear their stock, Mays says that the process starts much earlier, specifically in September. This is the time when the new models start flooding the market, and to keep up with the changing times, showrooms have to stock them. Naturally, this translates to letting go of previously existing stock, and the way to go about is by offering deals customers will undoubtedly love.
J.D. Power’s Tyson Jominy agrees with Mays’ assessment on car sales in December but goes on to add that there are other times of the year when you can grab yourself an enviable deal. This is during Labor Day, Thanksgiving, and Memorial Day. What’s more, such deals start getting hyped in the days leading up to the celebration, so you don’t have to buy your car on Memorial Day.
All the same, it isn’t all about timing. You also have to drive a hard bargain, and having a great credit score can do wonders for you. Also, you should have enough money for a down payment.
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