When is the best time for me to buy a new car?
When the issue of financing is resolved, there are some other important questions to consider as these will also greatly influence your buying decisions. One of the main considerations is to be aware of when may be a better time of year to buy the car. In many situations, if you choose your timing wisely, you could lower the amount you will have to pay overall. Here are 4 scenarios that can provide you with some idea on when it may be the best time to buy a car.
- End of Year Sales
Historically, one of the best times to buy a car is during end of year sales. As dealers, in particular, look to meet their specific sales quotas, lower car prices will typically appear. In order to increase numbers, these sales are likely to begin in the Fall and continue throughout the Christmas holiday season. Canadian car sales may also collide with the American Thanksgiving Black Friday sales and ultimately, help individuals save quite a lot of money on the overall vehicle price tag.
- Late Summer/Early Fall
It is also common for car sales on cars to take place late August and throughout September can be a good time to take advantage of discounts and lower car prices as this is the general timeline that newer models are added to a dealership’s inventory. At this time, dealers usually begin reducing vehicles prices from the previous season, thus making this an ideal time to pursue car shopping. Ultimately, if you do not have your mind set on buying a 2016 model, then buying a new 2014 can help you achieve some added price flexibility and save a great deal of money overall.
- End of Month/Quarter
The end of month or end of quarter also is a good time to a deal. Often, dealers’ sales projections will reflect a monthly-cycle and if you decide to shop for a car towards the end of the month, you may come across a salesperson who is still looking to meet their sales quota for that month or the end of that particular quarter.
In such instances, you may find it is possible to negotiate lower prices on cars and can end up driving away with a ton of savings. Moreover, even if sales quotas have been met, often dealers still have the potential of earning a special bonus if they can exceed these sales quotas and as a result they are more willing to drop the value of the car to meet these larger goals.
- Off-Season Purchase
Shopping off-season can also help you save money on the purchase of a new car, if you are in the market for a specific vehicle type. While late Fall and December can also be a suitable timeframe for enjoying discounts on various models and body types, it can also be a good time of year to shop for a car, such as a convertible. Car-shopping statistics have proven that prices for these types of cars are lower during the winter months, as there is usually more demand for them during the warmer weather months. If a convertible is the vehicle for you and you are able to wait until a specific time of year, then the prices that you are more likely to see during the winter may be worthwhile so you can save some money.
Timing is crucial when shopping for a car. Once you have come up with the best time to secure the most suitable car prices, with some negotiation tactics, you can improve your chances for saving even more money on the purchase of a new vehicle. Canada Auto Experts can help you with your instant approval car loan needs, by making sure this important step helps you establish good credit as well. Call 1-855-550-5565 today to learn more!