Last updated on May 16, 2017 at 02:42 pm
The prospect of buying a new car is both exciting and daunting. Whether you have a specific make and model in mind or are just looking for a safe, reliable car, the end goal is always the same – to get a great car at the best price. But how do you go about doing that? Although there are many factors that go into buying a car, seasonality is something that many people, including myself until recently, don’t think to consider.
Shopping in the Winter
If you do your car shopping in the winter months you are not alone, with over 62% of buyers hunting for that perfect deal. Most dealerships have more stock than they can handle at this time of the year, and in December dealers are looking to give one final push to increase their sales as the year comes to a close. This means finding a current model car might score you the deal you are looking for. The winter months are also primed with seasonal sales including New Years events and the “black Friday” of auto sales, Presidents’ Day events. These types of promotions can lead to great bargains on new and used models but do come with more competition from other buyers.
While most shoppers are focused on holiday gifts, car dealerships are vying for your attention with special offers and promotions. Manufacturers sweeten the deal for dealerships by adding bonuses and incentives to move their inventory in the month of December. This means more aggressive sales for you!
According to analysis by TrueCar, the best days to buy a new vehicle this December are December 10, 24, 27, 28, 29, 30 and 31. The best deals will be found on discontinued models and vehicles that are overstocked. If you won’t be shopping this winter, we have some other timely tips below:
As summer fades into fall, car companies are switching out the current year models for next year’s vehicles. Shop during this seasonal transition and take advantage of rebates and incentives aimed at clearing out old stock.
Win-win. Buy your new car towards the end of the month when salespeople are looking to qualify for bonuses. Their personal investment in your sale will yield a better deal for you and more commission for them.
The Last Minute Shopper
Do your homework first and make your final purchase one hour before the dealership will close. Everyone involved in making your deal happen wants to get home so you are less likely to encounter resistance to a fair offer.
Whenever you are ready to buy your new car remember to do your research, ask around, read reviews and do some comparison shopping. When you know which car you want to buy, look for deals in the newspapers, incentives from manufacturers and time it right to get the best price possible!
Next Steps – Finding the Right Insurance
If you are buying a car for the first time, don’t forget to protect yourself and your new purchase with automobile insurance. If you are upgrading from an older or used car you should consider upgrading your insurance and add comprehensive collision to protect your new purchase. Finding the right company and coverage will keep you safe and offer peace of mind while you drive away in your new car!