When is the Best Time for a New Car?

You’ve been dreaming of this for some time now. You’ve even made your research on which make and model to settle on. Yes, you feel you are ready to buy your new car. But wait! There is a chance that you will be buying a car at the least favourable time. You might be thinking, buying a car does not have a “wrong time.” Still, there are certain times wherein buying a new car is at its best time.

End of the Month

Sales people live and die by their sales targets. Hence, by end of the month they usually use their eagle’s eye for someone or anyone who will come in and buy a new car. Go in at the end of the month when they might be a little more desperate to sell and when they are more open to negotiations.

End of Financial Year Sales

To be able to introduce the latest car models, dealers would want to get the earlier models, especially the ones at the showroom floor, sold.  This is because the more cars they are able to sell, the better their sales figures at the end of financial year. Hence, negotiations are more manageable and the car prices may drop more easily.

Christmas and New Year Sales

Dealers would want to shift cars built in that calendar year as “last year’s cars” (even if it’s only a week or two) and introduce the newer models of the following year. In addition, Christmas and New Year is the season when people are generally more interested in buying consumer goods than cars so this is a very quiet season for dealers. Hence, dealers may likely give in to negotiations and may give you some discounts.

After Storms

After big storms, especially hailstorms, bargain hunters often buy hail-damaged cars at a huge discount. These bargain hunters are usually professional panel beaters or mechanics who know what to do with the damaged cars. Because of this, dealerships are quieter than usual, which could be a good time to buy a new car.

New Model Run-outs/ Stocktake Sales

If car dealers have newer models to introduce, they usually reduce the prices of older models. You can check out car magazines and blogs to see if the car you’ve been eyeing for some time has a new model to come out soon. New model “runs out” and “stocktake sales” are awesome if you are not anxious about buying the newer model and want a bargain!

This post originally appeared on Savvy Finance. To read more, kindly see When’s the Best Time to Buy a New Car?

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