So you have made the decision to purchase a new vehicle. You have been knocking around the idea for some time now, you’ve done all your homework, saved up your hard earned cash and driven lot after lot searching for the perfect vehicle.
Next, is there a best time and worst time to pull the trigger? Absolutely. Below are a few things to assist you with the big decision!
BEST TIME TO BUY
End of the year?
All the research in the world points to the latter months of the year offering the greatest potential on discounts. But that does not necessarily mean you have to wait. Limited inventories will wane as the year grows, but perhaps your car is out of stock. So if you have your heart set on a particular model, maybe the extra savings out weights the purchase of a car you really want.
When other car buyers are less likely to be shopping:
Avoid hitting the dealership when they’ve got a lot of buyers on the lot. If the dealer is experiencing slower traffic or sales they are more likely to work with you on pricing to hit quotas.
End of the model year:
Dealers will be more likely to work with you when they are busy trying to clear the lot for the new models. New cars usually start making their ways to the lot during late spring and early fall.
WORST TIME TO BUY
Tax refund checks are in hand and folks are on the lot ready to spend. This makes for heavier traffic, increasing sales and more difficulty in the buyers negotiation powers.
When your financial means do not warrant a purchase:
If you walk into a dealership with excellent credit you will have much more negotiating power. So make sure your bank accounts are full and your debts are paid.
Never make any large purchase on impulse. By doing so, you probably have not offered yourself enough time to think through the purchase. Online research can play a large key factor in assisting you when making your new auto purchase. Due diligence will pay off.
Putting too much emphasis on the current specials:
Beware of sales tactics that make you feel like the special is for one day only or that you need to buy on the spot to save money. Even if you feel you have successfully negotiated a great buy, never limit yourself. Take the time to shop around.
There will always be a car buyers’ market around the corner. If you have time, take it! Use it to your advantage to potentially save thousands of dollars.