Getting a good deal on a car can sometimes be as simple as looking at a calendar. When it comes to buying a car, timing is everything, as it is with many other things in life. You’ve done your research and taken a test drive, but if you can put off buying a new car for a few days – or even a few weeks – you could potentially save a lot of money when the time comes to sign on the dotted line. Some of this information applies to both new and used vehicles, so if you’re looking for a good deal, this is the place to look.
The best month to buy a car
Late December is the absolute best time of year to buy a new car. That is when a dealership’s yearly, monthly, and weekly sales targets all meet. Meeting these goals can unlock a slew of incentives and rewards for the dealer, which means they’ll be even more eager to close a deal than usual.
There are, of course, plenty of other good times to buy a new car. Here are some of the major ones, as well as when you might be better off waiting.
The best time to buy a new car?
The end of the month
Monthly sales quotas are common at car dealerships, and bonuses are frequently tied to these targets. At the end of the month, a salesperson may be willing to sell a car for less than they would normally do because the financial reward for meeting a sales goal often outweighs the amount of money lost by lowering the price of a new car to make a sale.
At the end of the day
Any good car salesperson knows that a customer should never leave empty-handed. A salesperson may be more likely to cut a deal if he or she attempts to negotiate a purchase price at the end of the day. After all, once you walk out the door, there’s no guarantee you’ll return to that dealership.
When is the best day to buy a car?
Monday is the best day of the week to purchase a new vehicle. This could be due to the dealership being less busy at the start of the week, or salespeople wanting to get a head start on their weekly goals. Whatever the case, numerous studies have shown that car buyers often get better deals on Mondays.
What are the best holidays to buy a new car?
Black Friday is more than just waiting in line outside the mall. In recent years, car dealerships have begun to post Black Friday deals, with additional incentives tied to this popular shopping day. New Year’s Eve is also a great day to buy a new car because it coincides with a dealer’s yearly, monthly, and quarterly goals. New Year’s Day can also provide some benefits, as dealerships frequently have year-end closeout sales that last into the first few days of the new year.
The worst times to buy a new car
Avoid purchasing a car early in the month because salespeople are less eager to meet their monthly sales targets. Saturday is also the worst day of the week to buy a new car because dealers are usually busiest on Saturdays and salespeople have plenty of other sales prospects throughout the day.
It’s also a good idea to avoid purchasing a new car when that particular model is in high demand. When a hot new car hits the market, dealers tend to charge exorbitant prices for their limited supply. If you don’t need the latest and greatest new car right away, waiting a few weeks or months can save you a lot of money.
This is all for today, we hope you had a good time reading our blog & we hope the next time you plan on buying a new car our post helps you in making the good decision in best price!