Best Time to Buy a Car

The best time to buy a car is a question that occupies many consumers' minds. Whether it’s a small coupe or a luxury sedan, a new car is a big expense. LoveToKnow is here to help narrow down your options and save you money.

1.

 During the holiday season, most people are pre-occupied with purchasing Christmas gifts, traveling, and visiting relatives. Edmunds.com, SmartMoney.com, and other reputable sources all seem to agree that the best time to buy a car is in December, especially close to the end of the year. Discounts and incentives are widely available as car dealerships work to achieve an annual sales goal; December is their last chance to make their required numbers. However, sometimes you have to be a bit careful since car dealerships may decrease the number of vehicles they order in anticipation of a slow period.

2.

 Historically, the fall season is when new vehicles for the upcoming year become available for sale. Once a new line is released, there is a big push to sell all vehicles from the previous year. As a result, higher rebates, incentives, and dealer cash programs become available to the consumer. However, new models are not just released in the fall season but throughout the year. Keep an eye out for advertising for the new “future year” vehicles that will be released. Visit vehicle maker’s websites, including Chevrolet, Toyota, Hyundai, and Honda, for the latest rebate and discount information.

3.

 Every month, the Sales Departments at dealerships are working towards a quota of vehicles they must sell to receive a bonus or to earn a higher dealership ranking. At the end of the month, salespeople who have not met their personal quotas for the month may feel pressured to work with sales managers to bend even farther on pricing. It’s all about timing when buying a car. Remember you have the option to walk away, and salespeople worry about that. Keep that in mind when you are negotiating.

4.

 During the week, most people are working at their day jobs and do not have the time for car shopping. You can use this to your advantage since many salespeople will not have as many distractions and can focus their attention better. When you feel less pressured by time, you will make better decisions, making it the best time to buy a car. Take advantage of the salesperson’s time, and take a couple of test drives on different models. Why not make your shopping experience a fun one?

5.

 If the dealership has experienced a slow week, then morale is a bit low, the pressure to sell increases, and it becomes one of the best times to buy a car. With the stress to sell, salespeople will be able to get more flexibility from the sales managers on pricing. If the dealership has its own website, check for specially-priced vehicles and get a good idea of what you are looking for before you arrive. If you see something you like, print it out and bring it with you to help the salesperson know what you are looking for in a vehicle.

6.

 Sometimes car manufacturer’s decide to discontinue a particular model. It can be due to a variety of reasons: lack of interest by the consumer, high manufacturering costs, design issues, or vehicle defects. These vehicles will be deeply discounted, and you can save a lot of money. Research carefully - you want to make sure the reason the vehicle is no longer available is not a defect. For example, the Chevy SSR was discontinued last year, and there were no problems with the vehicle. If, after researching, you are considering one of these vehicles, don’t wait too long. Demand for the vehicle sometimes goes up after time has passed, and dealerships with remaining stock will raise the price.

By Sheila Robinson