Buying a new car can be an incredibly exciting experience, but it can also be an overwhelming one. There are a lot of factors that contribute to the constant fluctuating of the car market, but one of the easiest to control as a consumer is when to buy.
4 of The Best Times to Buy a Car
End of a Design Cycle
In addition to rapid technological changes, the actual design of cars is something that evolves rather often. Car manufacturers often discontinue certain designs as they go out of style to make room for new ideas and different models. This is the perfect opportunity for the average consumer. Car buyers can often score massive savings by purchasing a vehicle at the end of that models design cycle.
It is important to point out that while purchasing a car right before its model is discontinued can net you massive savings, it will also cause the vehicle’s value to depreciate faster than normal. If you are going to use this method, be sure you plan on holding on the car for a considerable amount of time.
End of Year
According to Kelley Blue Book (KBB) most dealerships offer their biggest savings at the end of the year. That’s because most dealerships want to have more inventory space available going into the new year for the newest vehicle models. If you’re looking for a new car, consider holding off until the end of the year–that could save you thousands.
If you simply can’t wait until the end of the calendar year to buy a new car, consider waiting for a major holiday weekend. These holiday sales often come in the form of higher rebates or special holiday financing.
Most dealerships offer sales over holiday weekends like Presidents Day, Memorial Day, Fourth of July, and Memorial Day. Of course, these sales differ depending on the seller so be sure to research the dealerships in your area!
End of the Month
If you are looking to purchase a new vehicle from a dealership and not an individual, consider buying at the end of the month. Most dealerships have monthly sales goals that revolve around moving a certain number of vehicles per month. As a result, a lot of dealerships are willing to offer a considerable amount of money off a car to meet their quota before the month is up.
Buying a car is a complicated experience, but if you take the time to do your research there is no reason it can’t be an exciting one. Take the time to find the vehicle is right for your lifestyle and your budget!
Of course, you are going to need a proper auto insurance policy in place before you can drive anything off the lot. To learn more about the auto policies that are available for you, reach out to the staff at TGS Insurance.