One should know that purchasing a car is not a straightforward process. There are various considerations that you need to take in.
Among those is the timing. Specifically, you will need to determine the time when you need to buy a car. Of course, the answer to this particular inquiry varies. Specifically, it varies on the month, date, or even the salesperson you are dealing with. But once you are able to hit the right moment, the purchase would be worthwhile.
So when is the best time to buy a new car?
Best Day: Monday
Monday is the accurate day of the week where you should purchase a new vehicle. Potential shoppers are focused on the responsibilities of their daily errands and jobs. Therefore, the representatives in various dealerships are also focused on getting the people who come in the door.
Brian Moody, the executive editor of Autotrader, explained as to why Monday is the perfect day to get a new car.
“Come Monday, everyone has made a lot of good sales and enjoyed the activity of a busy weekend,” Mood said. “If you call or email a dealer on a Monday, there is a chance that you’re going to get either a better deal or simply more attention. If the person has more time, they might throw in something extra such as free oil changes or free car washes.”
Best Month: May
When buying a car, you might want to wait until May. Perhaps this is the best month for purchase.
You see, May is the prime month for auto sales. And history can prove to you that. From 2013 to 2018, the records from the Cox Automotive indicated that the said month is the height of buyer activity. The reason for this is attributed to the holiday promotions and incentives that people get this month.
Buy A New Car Late In The Month And Late In The Year
Aside from May, the months of October, November, and December are also ripe periods for you to get a brand-new vehicle. Most of these car dealerships have strict sales quotas within these months. Typically, there are sales quotas in a year, which can be broken into three categories: monthly, quarterly, and yearly. All of these goals can merge together in the latter part of the year.
“As the end of the year starts to approach, the dealer wants to have the newest cars on their lot,” Moody said. “If they happen to have a lot of models from the previous year, they may be more inspired to take a deal on those.”
But at the same time, Moody also warned that among those deals will require a buyer to accept the ones that are being offered in the inventories of these dealerships. This means that buyers will have limited options when it comes to the specifications or colors of the vehicle.
“Be flexible,” Moody recommended, “and get something the dealer already has.”
Moreover, it is not only at the end of the year when these car dealers offer appealing opportunities to save some money upon purchase.
“The end of the month, the end of the quarter, the end of any period is usually an excellent time to go,” Moody divulged. “That’s when there might be bonus opportunities for the salesperson or the dealer that give them extra incentive to want you to leave in a new car.”
Holidays Are Also A Good Time Buy A New Car
Most of us have seen holiday-related commercials and advertisements that include dealerships compelling you to shop and save. Interestingly enough, these commercials are not bluffing you. They are real. Holiday sales can give you amazing discounts, even to the cars that you want. They can help you save better than buying in any part of the year.
Here are some holidays that you should take advantage of.
- Black Friday – Many car dealerships join the Black Friday sales. It is a crazy time for both buyers and sellers. Aside from the manufacturer-given incentives and discounts, you can also search for opportunities to get good deals with the salesperson. “For example, around Christmas, the person who’s helping you might want to get home to his or her family and be more eager to wrap up the sale,” Moody explained.
- New Year’s Eve – If you are capable of swinging it, New Years’ Eve is also a great holiday to shop for a new car. The reason is pretty straightforward. Salespeople would want to end the year big and right. They have to beat their quotas, too, so that they can get bonuses. Hence, getting exciting deals on this day is a lot easier.