Sometimes you have no choice. You need to buy a car. You can’t wait for the optimal time to buy. But, if you have the option, are there really particular times of year that are better than others to purchase a car? The answer is yes.
According to DMV.org, not only are there certain times of the year that are more ideal for getting a better price on a vehicle, but there are also better weeks of the month, days of the week and even hours of the day.
Good news! It’s time to buy!
If you’ve been holding out on purchasing a new vehicle, good news, now’s your time to shop! The best rebates and incentives are typically found in the last third of the year. If you’re specifically shopping for a new vehicle, you may also find deals on the previous year’s models as dealers make room for the newer year models.
Can’t hold off until the end of the year?
That’s okay! There are still purchasing strategies to help you get the best deal possible. For example, dealers have monthly quotas. You may find that a salesperson is more likely to make a deal on a new or used car if you wait until the last week of the month. Or, make your trip to the dealership in the middle of the week. Weekends are hectic. With a higher volume of customers at the dealership, a salesperson will likely just move to the next customer. There’s more incentive for a salesperson to make a deal during the middle of the week when business is slower. And try hitting the dealership first thing in the morning. A salesperson may be more likely to negotiate in order to make that first deal of the day.
Do your homework.
With the Internet, you can access an abundance of information from the comfort of your home. Before you head to the car dealership, research your options online. Are you in the market for a car or SUV? Is there a certain price point you’re looking at? Or maybe you’re in the market for a fuel-efficient vehicle. Narrow down your options so you’re more confident once you hit the car lot. You can also search for dealerships in your area with our direct search tool. Our Direct Dealer Network is a network of over 200 local automotive dealerships that makes car buying a simple process.
Know your value.
If you’re trading in a vehicle, use a reputable site to research the value of your current vehicle. Kelly Blue Book, NADA and Edmunds all provide both trade-in and outright sales values. These sites can also provide a good starting point for negotiating the price on a new vehicle.
Secure your financing.
Some dealers offer zero percent financing, but that may not be your best option. Vantage offers a rebate vs low-interest financing calculator that can help you determine the best option for you. We can even help you determine how much car you can afford. You’re ready….now go get your new vehicle!
Get pre-approved before you visit the dealership.
Have a vehicle loan with a different financial institution?