When’s the Best Time to Buy a New Car? Few Savvy Strategies

  • By Website Team Technicians
  • 18 Jan, 2017

How much does timing matter when buying a new car? A lot, it turns out! We reveal the best time to buy a new car—a strategy that could save you thousands of dollars.

By Reader’s Digest

The Best Time to Buy a New Car

According to the old saying, “good things come to those who wait.” These words of wisdom should certainly be taken into consideration by anyone   shopping for a new car . If your need for a new car isn’t urgent, it’s best to do your research beforehand and plan the best time to buy a new car, as a bit of patience—and strategy—can save you hundreds or even thousands of dollars. Click through this slideshow to find out how to best time your next vehicle purchase and save your hard-earned money.

1. Does it help if I buy my car at the end of the day?

While there are exceptions to every rule, experience shows that you are more likely to get a great deal on a new car towards the end of the day, just as the salesperson is about to leave the showroom. This is because the salesperson is probably less likely in the mood to negotiate, and might just want a   quick and hassle-free sale   and give you a great price right from the get-go. So be sure to get your sleep the night before and prepare yourself for an after-dinner negotiation session that gets you a great deal on your car. Of course, if you’re not into negotiating at all, be sure to check out   our exclusive car buying program   and get a great price on a new car, all without having to negotiate

2. Does it help if I buy my car at the end of the month?

A   little-known fact   about the automotive industry   is that many manufacturers offer big bonuses to dealerships and salespeople who sell the highest volumes of cars. These bonuses are paid on a monthly basis which means that the dealership might actually be willing to sell the last two or three cars of the month at a loss if it means the difference of making the volume quota or not, knowing full well that the profit from the sales bonus will offset any loss taken on those final cars. However, this strategy doesn’t always work as some dealerships may hit their sales quota earlier in the month, not to mention that some models are rarely ever discounted regardless of the time of month.

3. Does it help if I buy my car at the end of the year?

It’s no secret that the most sizeable   incentives and discounts on new cars   are available towards the end of a year—an old tactic used by manufacturers and dealerships to clear remaining inventory of current model year vehicles to make room for next year’s models. During the final months of the year, many manufacturers offer up to five-figure discounts on top of   attractive finance and lease rates   on many models. That said, some trade-offs of buying a car at the end of the year include that you’ll be constrained to whatever inventory is remaining on dealer lots and the fact that most current model year vehicles have lost a portion of their initial value as a large part of the year has already passed.

4. What if I want to buy a car right before the new model is about to be released?

Most vehicles have a five to six year life cycle before receiving a facelift or redesign, and   buying a new car   right before the new generation is released can contribute to big savings. This is because the manufacturer is fully aware that most consumers have their eyes on the newest model (which most likely won’t have any   incentives   yet) meaning that consumers willing to opt for the previous generation will be eligible for a hefty discount. The great thing about buying an outgoing model is that you’ll still get a brand new car backed by the same manufacturer warranty and with great discounts to boot!

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