You made a budget. You did your research. It’s time to buy a car! Not so fast. There’s one more thing you should consider first. It can make a big impact on how much money you save! Let’s talk about the best and worst times to buy a car (here’s a quick hint: do the opposite of what everybody else does!).
The Best Months to Buy a Car
August
New models roll into dealerships during August and September. That means car salesmen are desperate to get rid of old models to make room for the new goodies. They might bend more on price due to the lack of space.
December
Most people don’t shop for cars during the holiday season. They’re too busy finding the perfect gift for their friends and family (who most likely are NOT getting a car for Christmas). Sales staff get annual bonuses for meeting quota. You better believe they’ll slash prices at the last second to make sure that happens!
The Worst Months to Buy a Car
February
Buying a car is a common use of the tax refund, so dealers definitely aren’t struggling for business during tax time. Why bother negotiating? If you don’t buy that awesome convertible, another customer probably will before the day is over. Stay away from dealers during this time of year. They will milk you for every penny you’re worth.
May
Lots of parents buy their teenager a car after they graduate. One heck of a present, huh? That’s a sweet thing to do, but I suggest being more unpredictable. Let your new teen driver borrow the family car for a month or two and visit the dealer after things slow down. Remember the law of supply and demand from economics class? The more people at the dealer, the less likely you will get a good deal. Wait!
The Best Time of Day to Buy a Car
You know how you stare at the clock in anticipation when you’ve only got a few minutes left before you can go home? Car salesmen do that, too. Show up at the very end of the day. If they’ve got something to do after work, they might cut you a deal just so they can go wherever they need to be.
The Worst Time of Day to Buy a Car
Don’t show up bright and early. Salespeople will be energetic and excited for the day. Coffee has that effect! That’s great, because everyone should feel happy at work, but you don’t want to negotiate with a salesperson at their best. Wait until evening. They will be more sluggish (less focused on making every dollar they can).
Were you surprised by the suggestions in this blog? I know the best times to buy a car seem counter-intuitive. Follow this advice and your bank account will thank you later.
You must be logged in to post a comment.