3 Life-Changing Tips for Buying That New Car
Timing, as they say, whoever “they” is, is everything. And buying a new car at the right time is one of those things. We know how hard it is to be patient when all you want to do is run down to your closest dealer, proclaim you want the shiniest car available, make it rain, and drive off the lot like a boss.
Even though that sounds like more fun than being a responsible adult, let us persuade you otherwise.
Buyers who catch the dealer at just the right time can save hundreds, sometimes even thousands, of dollars on their new cars. So think about waiting. Because if you want the best deal out there, if you want the shiny, shiny car with the shiny, shiny surround sound system, leather interior, and power windows, without all the zeros behind the dollar sign, you need to understand how dealers operate.
So here are some things to consider before you dot your I’s and cross your t’s.
1. The Best: Winter
Conventional car buying wisdom tells us that the best time to buy a car is at the end of year, when dealerships are more likely to offer discounts in order to meet their year-end sales target. And this is true. Cars are often discounted in the winter months to meet sales quotas. Or it might be a case of the dealerships may also want to trim their inventory. Whatever the reason, the winter months offer the greatest in potential discounts, but just remember, as the year wanes, inventories become more limited, so while you might get a great discount, you might not get the model you’re after.
2. The Worst: Spring
As the winter weather clears, more people are out and about, looking forward to driving in better weather conditions. Let’s also not forget that with tax refund cheques warming their cozy pockets, dealers aren’t necessarily going out of their way to offer discounts. This also might sound like common sense, but it goes without saying: buying a new car when it’s in peak demand might not be the wisest decision. A car model that is in high demand and its price tag are in the hands of the dealer and manufacturer. If they have what everyone wants, they set the price. You’ll also want to avoid purchasing that new model until it’s been reviewed.
3. Pick Your Days
Don’t forget to shop early in the week, like a Monday or Tuesday. Come the weekend, salespeople will have their hands full with a large number of shoppers, which means you won’t be getting a ton of personal attention. Shop at the end of the month. Insurance fees for each vehicle on a dealership’s lot is typically due the next day, so there’s a push to get some inventory off the lot. Not to mention, since salespeople need to fill a sales quota, the end of the month or end of quarter might mean you’re working with someone who is desperate to close a deal. On that note, make your offer later in the day. If a salesperson has yet to close a deal that day, he or she may be more amenable as the minute’s tick down to closing time.