Best time to purchase a vehicle in Canada, the answer may surprise you!
As the chia tea is brewing I asked my husband when he thought the best time to purchase a vehicle in Canada would be, he thinks anytime. Between the how-to books, many written articles and advice from your Aunt Bertha’s neighbour’s brother, you would think it would be an easy decision. Not according to the experts or my father in law. There are many factors, numbers and questions that need answering.
When is the best time to purchase a vehicle in Canada? Well, let’s take a look into this little mystery. I have heard several opinions on this topic from both male and female contributors. They range from “summer, it does not matter as dealerships always have deals going on” to “is there snow on the ground?”. I believe the truth comes from a bit of good old research, patience and being protective of your hard earned cash.
Research has taught me a few key tips that helped answer, when is the best time to purchase a vehicle in Canada?
The first and I feel one of the most important questions you will have to answer is what type of vehicle you require. You can help determine this by deciding if you are purchasing new or used. Along with, what are your interior size requirements and if you have a family and or pets? There also is the questions of how much daily commuting is involved, and also the condition and type of roads you will be mainly using.
Most drivers live in the city and deal with paved roads, shorter commutes and spend a lot less on gas as to their out of city commuters. More people are moving to and working in outside communities. They have a longer and sometimes harder commute that affects the vehicle’s daily performance. I have found a lot of out of city drivers want and need bigger SUV’s and trucks, and more city drivers a form of sedan or crossover. Keeping in mind where you live, your daily driving activity and the size of vehicle required, will not only help decide the type of vehicle but when the best time to purchase a vehicle in Canada.
How does patience come in to play when you are deciding the best time to purchase a vehicle?
Patience will become an important role when you are looking to make a purchase this big and important. You know the type of vehicle you want and need to fit your daily life, but is this the best time to buy?
If you are looking for a model that does not change much year to year than according to Miranda Lightstone an automotive journalist and expert, fall is the best time. Fall is not only a time for warm cider and pumpkin pie, but it’s also a time of change and preparation for winter and the new year. For most that may be cleaning out the gutters or garden, but for the auto manufacturers well that is there best time. They will be needing to get rid of the current year’s models to make room for next years, with that could come big savings and incentives. Some say December is the best time to purchase a vehicle in Canada, as dealerships are slower and they want to keep their inventory lean.
If you wait until fall or winter, as you want the up to five-figure savings, attractive financing and lease rates, you may be disappointed. This is also a time when inventory is lean and the current models have now started to lose a portion of their initial value as the year is just about over. Patience can be great if you are looking for a model that does not go through many changes year after year, this is the case for most manufacturers.
How to protect your hard earned cash when you decide the best time to purchase a vehicle in Canada.
You have spent mainly sleepless nights and long days deciding on your next vehicle. The research has been intense, you have now become a master of patience that even surprises your 4 legged family members. But wait, there is one more tidbit to the mystery of when is the best time to purchase a vehicle in Canada. I believe this is the most important, as it pertains to your pocketbook and how much do you really want to invest.
Like most Canadians, money is not something that comes easy or in huge amounts, I know there is not a money tree in my back yard or neighbour’s. Most vehicles start to lose their life cycle after 4 or 5 years, this happens to be the same amount time of an average loan term. Now if you have been financing or leasing for 5 years, along with general maintenance, gas and insurance, that comes to a huge amount.
Fall and winter seem the best time to purchase a vehicle in Canada.
Knowing what you are looking for, the best time to purchase and how much you want to spend can make a world of a difference. By first doing the research, investing the time to determine your needs along with your family, will help determine the type of vehicle. Looking into when the dealerships and manufacturers have the best incentives, along with financing and leasing rates, will save thousands of dollars yearly.
And finally having the patience to wait until the fall, yes fall, to make that huge investment, will not only bring you joy but peace of mind. Your bank account will also be happy and growing as your smart purchasing know-how will be saving you money weekly. A vehicle is an investment, a short term one but an investment never the less, so treat it like one and you will come out the winner.