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Yes buying a brand new car is not the best way to save money. Even if you are saving hundreds or even thousands on that purchase. If you buy a used car you will save much more money than new, but it comes with problems. Problems like being out of warranty, have upcoming repairs or maybe even damage that you don’t know about.
So if you want a new car…
Knowing the best time to buy a car can save you hundreds or even thousands of your hard earned dollars. What is great is that while there is truly one best time to buy, there are a few other times a year that are pretty good times too. So if you can’t wait, don’t worry, you can still find a deal to save on a new car.
Knowing when to buy comes down to understanding the sales cycles of cars. Manufactures have a certain number of days for each model year. When it ends it is time to bring the new model year cars out on the sales floor.
The end of the year, primarily within the last two weeks of December, is the best time to buy. If you can go on Christmas Eve or December 27-30 these should be your prime dates to save on a new car.
They need to get rid of the closeouts, also with it being holiday times, there are fewer buyers. Everyone is either busy with other things or cash poor due to gift buying. Buying a car isn’t on the minds of many people. With the need to sell cars and the lack of consumers, there are more incentives and rebates.
The sales people are in need of making a sale and try to work with you as much as they can. Plus dealerships have quotas and bonuses that they are trying to reach. All of this adds up to great deals for you.
Things To Keep In Mind To Save On A New Car
There are a few things to keep in mind when buying at the end of the year. You will be choosing from what is left in stock. So if you are willing to get any color, package, or maybe not even the car that you wanted, then waiting for the best deals is for you.
If you really want a particular model to remember that they may be out of stock. Or if it is a model that is a top seller, there may not be as steep of a deal for it. Also, the best deals will be on the last year models, not the new ones.
If there is little change between the two years it may work for you. But if you really want the newest features on the new model, you won’t get the best deal.
If you need a car and can’t wait until the end of the year, then at the end of quarters or the end of the month is the next best times. This works similar to the annual sales. The dealerships have quotas and bonuses to reach.
Manufacturer incentives can change mid-month even without advertisement. This is due to a car not selling well at the beginning of the month and they want it to move. It is left to the dealership to advertise the new incentive.
Don’t Go Shopping In Spring
The worst time to shop for a new car is in the spring. The showrooms are usually busy and you won’t get as good of a deal. Start shopping about six months in advance and know what kind of car and features that you want. This will allow you to watch ahead of time to know that you are getting a great deal when you can’t buy at the end of the year.
You can also contact the online sales department and ask to be notified of their incentives in the future. You can do this for more than one dealership and compare them against each other.
One last piece of advice is to be sure to know the model release date for the car you are looking to buy. They don’t all have the same release dates and this can affect when you will get the best deal on that particular model.
As with everything in life a little planning can go a long way. Decide what you really want, then think about what you can live without and what you must have. This will help you when you are there negotiating and need to make a quick decision.
Using this advice should allow you to save on a new car, whether it’s hundreds or thousands of dollars. Remember to decide what car you want, the features you must have and what would be nice. Start planning about 6 weeks before you will want to buy and shop around.
