The best time to buy a car is one of the biggest questions you can ask yourself if you need to renew a lease or purchase a new vehicle. This purchase is not a financial decision that you can make lightly because it usually requires financing. Determining the best time to purchase a car will also provide a timeframe to save money and lower down payment.
The price of a car can vary throughout the month depending on the time of year and the salesperson who attends you at the dealership. That is why it is important to consider what is the best month to buy a car or what specific day to approach, asking for prices before pursuing the car of your dreams.
If you can plan and be flexible, keep in mind that dealers work based on sales targets imposed by the car brands. Each month they have a goal to achieve and do not always fulfill it. Therefore, the last three or four days of the month are usually the most stressful time for the dealership and the best time to buy a car.
The best month to buy a car
Choosing the best month in which to buy a car is essential. Each year there are usually three windows of opportunity that you can take advantage of listed below:
- December is the best time. At the end of the year, dealers accelerate their processes to meet their car sales targets. Likewise, if goals have been missed throughout the year, December is the final opportunity for salespeople to meet their individual goals. A dealership that has not achieved its company goal will be more likely to offer a price that allows you to save the most with the purchase.
- The second-best month to buy a car is August because the average consumer usually saves money during previous months to go on vacation in his brand-new car. Car sales fall after August. The dealer sells fewer models and moves away from his goal. Nobody wants to spend a month without selling a single vehicle. Consequently, the dealership will be friendly and favorable to offer you better conditions for the car of your dreams.
- The best time to buy a car is after a poor month of sales when there is overstock. Commonly, there is a bad month of sales, and the dealer is forced to buy models directly from the manufacturer to meet their objectives. New cars without use or that have zero mileage are registered by the dealer. They have not been used, are only a few weeks old, and usually have favorable discounts. The best months for this situation are January and February; many dealers have been forced to buy cars from brands to meet targets they could not sell in December.
The best time to buy a car
Finally, you can always take advantage of the nature of the automobile industry. The renewal of products occurs quickly, so the average life of a model is usually 4 years at most. If you are attentive to advertising, you will know when the new models are coming.
This is important to note so you can take advantage of the inventory for the previous model. Discounts are usually generous, and the dealer will sell a model with no future in the dealership.
In summation, go to a dealership to purchase a car the last few days of the month when salespeople are anxious to make a sale and meet their monthly individual goals. Also, plan to purchase a car at the end of the year, when dealers want to ensure they can meet their yearly goals, or at the beginning of the new year when the unsold inventory is likely to be discounted. Now that you know when to buy a car, you can start looking for the model you want and plan your savings accordingly.
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