Do I Need My Own Car?
Before heading to a car retailer, take a minute and think if buying a car is that necessary. Public transportation has come a long way over the years.
It’s convenient, gets you from point A to point B, and cheaper than owning a car.
If you live in a household that already has one or more cars, ask yourself if another addition is necessary.
The purchase could end up underused, thus only draining the bank. When the life phase for such an investment is right, let’s examine which period is the best.
Buy Late in the Year
Calendar-wise, the best times to buy a car are the final months of the year. Car retailers have a yearly quota to fulfill.
As we are starting to make plans for New Year’s Eve, they slowly realize that they somehow must raise those sales numbers. The best way to do so is by lowering the prices.
We don’t know about those quotas, but the dealer does. They won’t tell us about them, of course, but their presence casts a shadow over their head, making them more willing to negotiate in favor of the customer.
END OF THE MONTH
Most customers believe that the end of the month is the best time for shopping. And knowing about sales quotas supports this theory. But that is not necessarily true.
Although some car dealerships must meet their set goals by the end of the month, some take a different approach.
In some companies, a cycle ends mid-month, where others prefer a couple of days before the 30th or 31st.
Buyers should inform themselves about the available car dealerships.
Seldom will the companies publish their set goals for the public eye, but you can analyze their traffic and draw a conclusion.
In some scenarios, waiting for the last day of the month can work against the client.
Holiday Discounts
We all know those hilarious holiday dealership commercials. They try to convince us how buying a car during this period is most beneficial for both parties.
However, most of us tend to forget them the moment they’re off the air. But there is more to these commercials than mere salesmanship.
Most shops around the globe practice the tradition of holiday sales.
Car dealerships don’t fit the traditional definition of a shop, but they are not shy of offering you a discount during the festive seasons.
BLACK FRIDAY
This is the holiday for shoppers in America. The craze sweeps the whole nation, and car dealerships cannot resist.
If there is an ideal day to buy a vehicle of any kind, then it’s Black Friday. Truth be told, this is the best day to purchase anything.
MEMORIAL DAY
All experts will tell you that summer is the worst season to buy a car - financially, that is. The period around Memorial Day, however, is an exception.
During this period, car companies release new models. Thus, salespeople cut prices of the current stock.
NEW YEAR’S EVE
All companies reflect the past year during this holiday. If the quotas are not met, they are forced to reduce the prices. This is a hectic time of the year.
Those who manage to pay a visit to a car dealership drive off with a smile on their face.
Early in the Week
The first three days of the week are the most favorable for car shoppers.
Mondays, Tuesdays, and Wednesdays are notorious for bad traffic - especially Monday.
Salespeople must make the best out of a given situation, and are more likely to sign a bargain deal.
Shop for This Year’s Models After Next Year’s Models Arrive
Let’s be honest here; most of us want a new car, or maybe an old-timer. The latter is seldom found in ordinary dealerships.
But they have a variety of jaw-dropping recent models to choose from. However, the price tag on them is not a pretty sight.
The patient shopper knows when to strike the best deal for the new model. Most car dealerships have limited space.
When they order new models, they have to get rid of old(er) ones. This is when they reduce the prices, and the smart shopper strikes.
Personal Timing
Waiting for Monday, Black Friday, or Memorial Day is in vain if the buyer is not in a favorable position. Buying a car is an investment, and the status of the investor plays a crucial role.
An excellent negotiating position means having an adequate down payment and a respectable credit score.
Buyers in good positions can avoid high-interest charges. Impatient customers pay over the value of a car if they start negotiating while in an unfavorable position.
Our advice is to wait for that promotion before heading to the car dealerships.
Heading to the Car Dealership
Although owning a car is a convenient and respectable, buying one can be a frustrating affair. Picking the dream model is the easiest part.
Paying for one is where the difficulties arise.
There are several factors you should take into account.
The size and the amount of gas are the obvious checkpoints, but the timing of the purchase is often neglected.
Buying a car at the right time can save you a fortune. Customer traffic is slow during the first three days of the week, meaning that you have more space to negotiate the right price.
In the closing days of the year, salespeople must meet their quotas.
Therefore, they are more willing to lower their prices. Car dealerships offer sales during holiday seasons, such as Black Friday, New Year’s Eve, and Memorial Day.
The best time to shop for current models is when car companies announce the models for the upcoming year.
Buyers with better credit scores avoid high-interest rates.
