Whether you need a new car or want a new car, timing can be the difference-maker in saving money at car dealerships. Yes, we understand timing isn’t always on your side, or you may not believe that retail items are discounted or cheaper during certain times of the year. We’re here to tell you if you can wait, wait; unless you’re reading this is during the peak of when the best time to buy a car is.
If you’re in that car-buying mindset and ready to pull the trigger on buying a new vehicle, do yourself a favour and read this first to get the best price on a vehicle, which could save you loads on your monthly payments. Disclaimer: for the most part, this applies to new vehicles and not so much used cars. That said, (we’ll slide in) get the best car deals by buying a used vehicle with FFUN Cars, where the price you see is the price you pay no matter what day of the week it is.
End of the Year
If you can wait until the end of the year to buy a car, do it. Car dealers have annual sales goals they have to reach, so waiting until the last month of the year usually means lots of incentives to increase car sales, with the primary goal of dealerships and salespeople reaching the projected sales quotas. If you’re lucky, some dealerships may be running post-Black Friday sales. Some will even argue that car prices are the lowest at the end of the calendar year and the best day to purchase a new vehicle is on New Year’s Eve. Most people are home with their families celebrating the holidays, so if a potential car buyer walks into the showroom on New Year’s Eve, you can be damn sure a salesperson will do everything to get you to take a vehicle for a test drive and offer you a lower price. After all, it’s their last day to add to their sales for the year. So, plan to do car shopping as a Happy New Year present!
End of the Month
Sales goals for the year are built off monthly sales targets, which build into quarterly goals, leading to the final sales targets being reached before heading into the next year. Just like waiting until the end of the year, car-buying at the end of the month, especially if it falls at the end of the quarter, is the best time to get a deal on your car purchase. The car dealer may be offering incentives such as lower interest rates on a car loan, rebates if you purchase specific models, and automakers may be lowering their MSRP to help dealerships out. They are all motivated to sell vehicles, whether it’s a dealership, salesperson, or automaker. Don’t save vehicle shopping for holiday weekends; stop in on slower days of the week, which are typically between Monday and Wednesday.
According to Edmunds, the least discounted months are January to April, most likely because it’s the beginning of the year, so there isn’t as much pressure to come out guns-a-blazing to meet yearly targets in the first quarter. On the other hand, the most discounted months for car purchases are October to December. We can probably conclude that it’s a result of the new models arriving at dealerships, so they are anxious to clear the lots of the current models.
Salespeople have flexibility in the selling price of a vehicle; it comes down to how much they want to dip into their commission. #shady, we know. At FFUN Cars, we ain’t about that. There are no hidden random fees, no haggling over a price, no dealing with pushy salespeople; heck, you don’t even have to talk to anyone or leave your house. Our vehicles come with a free CARFAX report and go through an insanely meticulous 92-point inspection. Give us a try and get amazing deals any time of the year.
Off-season Car Buying
Okay, back to the best time to buy a vehicle from traditional dealerships. We’ve established that the end of anything, the month, the quarter, the year, is the best time to purchase a vehicle. It’s worth mentioning buying a particular car in its “off-season” will also offer some deals. When there is a demand for a type or model of vehicle, the dealerships (you didn’t hear it from us) tend to increase the price. We said it, so can you, #shady. For example, if you want that hot summer convertible, consider buying it post or pre-convertible season. The same goes for other body types on vehicles. SUVs are in high demand at the beginning of winter, so that’s not the best time to start shopping for one.
New Model Year
When an automaker designs a new model, they intend to keep that same design around for a few years, making minor modifications each year. If you’ve had your eye on a specific make and model for some time, wait to purchase it when the first version came out about five to six years earlier. Why? Good question. It’s usually around that timeframe that auto manufacturers change the design, so they will be desperate to clear out the older models. Jump on it and use it to your advantage for the best price.
If it’s money you’re looking to save, whether on the purchase price or your monthly payment amounts, plan and save for a down payment. Another great option is to trade in your existing vehicle. Not sure what it’s worth and don’t want to take it to a dealership to get appraised? We don’t blame you; that’s why we’ve got some fancy-pants technology that can show you what market value is on your vehicle, and it only takes a few minutes. While you’re at it, try out our other technology that can qualify you for a car loan in two minutes with zero impact on your credit score.
So there you have it; the best time to purchase a vehicle. But, we never mentioned the best WAY to buy a car. Call us biased, but we say the best way is through FFUN Cars. Browse the online inventory, no salespeople, no hidden fees, no haggling, qualify ahead of time, limited vehicle warranty, 24-hour test drives, and the list goes on. Tell us you aren’t convinced that buying a car from FFUN Cars is the best way. We’ll wait!
