Buying a car can be a hefty investment, especially if it’s your first time. When you negotiate for the best possible deal, you can get the vehicle at a good price; however, haggling isn’t the only way you can save on your purchase. There are many aspects to consider, such as the time of year you are looking to purchase the car. This can play a pivotal role in the price you end up paying for it. We’ve listed some of the best times to buy a car, which can help you maximize your savings:
The End of a Time Period
Studies show that you are a lot more likely to get a better deal on the car you are trying to purchase if you do so at the end of a month. This is not exclusive to a specific month during the year; this is the case for every month. This is the case because when you purchase your car at this time, you are helping a sales manager of the dealership meet or go beyond their quota for that month. The end of a quarter is also a great time to attempt to purchase a car. This also ties into sales goals needing to be met within a quarterly time frame.
You may not know this, but you can even get a better deal at the end of the day. Dealership employees are usually out of energy by the end of the workday and will waver on negotiating with you. You may find better luck with your purchase if you visit the dealership at the end of the day rather than going in early on Monday. You are more likely to receive better deals on the car you’re trying to purchase during these time periods.
Weekends that Fall on Holidays
If you’re unable to go to a dealership at the end of the day, month, or quarter, you can always hold off on making your car purchase (if you have time) and wait until the holiday season. When you visit during a holiday weekend, you’re more likely to encounter a holiday special that includes huge sales. These sales provide special financing options or cash-back deals you won’t want to pass up.
Last Year’s Model
Another car buying hack is waiting until the New Year’s model has come out to purchase a car. The New Year model vehicles typically come out during the fall season of the previous year, which means most dealers are trying to get rid of their old models to make room for the newer models. This is usually a great situation for car-buyers as you’re likely to get a better deal on the car you’re looking to purchase. If this doesn’t happen, the dealership typically offers a large discount on older car models to help sell them faster.