When Is the Best Time to Buy a New Car?

by Samantha Bennet on May 18, 2013

When is the best time to buy a car? When is the best time to buy a car?The car has become an important part of our lives. It is difficult to think of a life without automobiles. They have certainly come a long way in the last 100 years in such a way that there are now several hundred types of cars that you can buy.

Buying is an important factor for me because the car I’m likely to keep it for at least two years. It is as important as selecting the car because it would help me save my hard earned money. I usually follow different techniques in order to extract the maximum offers and discounts from a car sales executive.

1. Year end
Even with a booming economy, car dealerships usually accumulate a lot of inventory, which they then have to shift away without giving massive discounts. This is why I always look forward to buying a new car at the end of the year. The sales executives also have annual targets, which is bound to give them a lot of pressure at this time of the year. Hence, I usually end up getting different types of discounts including cash discounts.

2. Model end
This is also the time of the year when the car is getting ready to be refreshed with a few changes like a new bumper design. This usually results in huge interest in the new model, but I look at ways of taking advantage by haggling with the dealer for substantial discounts during this period.

3. Month-end
Even though it may not be as fruitful as buying at the year-end, haggling with a car sales executive at the end of the month is also one of the good ways to get the highest possible discounts. The need to hit monthly targets makes this especially a good time to buy a car if I cannot wait until the end of the year.

4. Model replacement
Most of the car companies around the world adopt a five-year cycle for a car model after which it is replaced with new features. In most cases, the changes are so dramatic that car dealers may find it extremely difficult to get rid of the old stock. In such cases, I have found it extremely easy to get huge discounts. In order to take advantage of this type of a discount, I usually do a littel research about the company policies and the car life cycle it adopts.

5. Middle of the month
Sales activity in the car dealerships during the middle of the month is usually dull, which may result in offers in order to revive interest in the product. Negotiations, which are usually shunned at the start of the month, are welcomed during this period.

There are several processes involved before buying a car. One of the foremost, though, has to be the time of purchase and it is often overlooked by many. These simple tips have helped me get the best bang for my buck.

When would you choose to buy a new car?

Courtesy of CreditCardShoppe.com

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