Best Times for Car Buying
Buying a car can be both exciting and intimidating. You want to make sure that you are well prepared when the time comes to get your new set of wheels. Is there ever a right time to buy a car? The answer is yes. As your trusted financial partner, we strive to ensure our members are well-equipped for their car buying journey. We are here to offer advice about the best times to buy a car.
Shop on Weekends
Car dealerships are often more crowded during the weekend, since most people can’t take time during the week to do their car shopping. Since there is less customer traffic during the week, particularly at the beginning of the week, you may have an increased chance of receiving more personal attention from salespeople. More one-on-one time with the salesperson puts you in a better position to negotiate for a good deal on your purchase.
Shop Towards the End of the Month
Whether they’re selling flat-screen TVs or Toyotas, most retailers and their salespeople have monthly sales quotas that must be met. When the end of the month is approaching, and a dealership or salesperson hasn’t reached their goal, you’re much more likely to be offered a deal on your purchase. Try to schedule your shopping for the last week of the month so you can take advantage of the dealership’s willingness to meet their goal and offer you a better deal.
Shop for Deals
Dealerships will often hold numerous sales throughout the year that will give you the perfect opportunity to seize the best price on your new vehicle. Year-end sales can be treated similar to end of the month deals. Dealerships and their sales personnel are typically trying to meet end-of-the-year quotas, which gives them more incentive to give you the best deal on your car. Holiday sales, such as Black Friday, are one of the best ways to find a significant price reduction on the car you want.
Shop at the End of the Model Year
While new cars may arrive at any time, the fall is traditionally the season for new cars to appear in dealer showrooms. Before that can happen, dealerships must make room for their new inventory and will usually start discounting cars in the older inventory. In general, vehicles that carried over with few changes will see a smaller discount on older designs. But, if a vehicle is completely refreshed, adding new features and a complete redesign, the discounts on the old model can be substantial. The fall could be your prime time to get an excellent discount.
Timing is Key
Waiting for the right time to buy a car may require strategic scheduling (and patience), but with time on your side, you can make buying your dream car a reality – at a fraction of the cost! You can save yourself thousands by waiting for the right time. If you feel like now is the right time for you to drive off in your next set of wheels, don’t delay! Apply for a loan online or contact us and we will be happy to walk you through the process and discuss your financial options. You can even check out our auto loan calculators for a quick and easy way to help you plan your next car purchase.
Whether you feel like you’re ready to start the car buying process now or feel like you need more time, we are here to help you every step of the way. Knowing when the right time to buy is crucial, so do your research and be sure to weigh all of your options.
At Robins Financial Credit Union, our mission is to enhance the financial well-being of our members and community. We honor this commitment by providing educational content to help you make the most of your finances. Read our other blog articles to help you gain the financial knowledge you need to succeed.