When’s the best time to buy a car? This age old question has been answered hundreds of times and there are hundreds of different answers for you to try and make ends meet of. So let’s take a look at some of the age old advice about when to purchase a car.
1. Buy at the end of the month
One suggestion is that you should look to purchase a car at the end of the month ideally when we are moving in the next quarter. The reason people have said this is because car dealers have quotas which they have to meet and therefore the idea is that if you go just before the end of the quarter, the salesman will want to make enough sales to meet their quota and therefore will give you a better deal on the car. To try and capitalise on this even further, they say that you should wait until the end of the day on the last day of the quarter to get the very best deal possible.
2. Visit a dealership on a rainy day
This may sound completely bizarre but the idea is that there will be little or no buyers in the dealership. As car salesman are looking for the best way to convince a person to buy a car from them, they will apparently give you their undivided attention on a rainy day as there will seldom be other people in the dealership.
3. Purchase during the holiday season
The idea behind this is that vehicle sales generally drop during the festive season and therefore the dealerships will be more competitive and try and get you the best deal possible. If you combine this with the end of the month, at the end of a quarter, then they say the chances that you will get an unbelievable offer are higher.
4. Visit a dealership at the beginning of the week
People claim that if you go shopping around for a vehicle in the first few days of the week, you will most likely get a better deal. The reason for this is that the majority of people who are looking for cars do so over the weekend and therefore if you were to attempt to make a deal the chances are slim. However if you go on a Monday when there are fewer people in the dealership, there is a chance that you will receive a better deal instead of having the salesperson walk off and serve someone else.
5. Purchase a year end model rather than a new one
If you purchase a year end model, the idea is that you will save money as people lose interest on vehicles once a newer model has been introduced. In addition to this, car salesman will apparently want to sell of the older models in order to make space for the newer models and therefore will give you a better deal. What is more is that once a newer model has been designed and is in the process of manufacturing the new model, production on the older model ceases. This means that the car dealerships will want to get rid of the older models faster.
6. Look for repossessed vehicles
With the economic downturn that occurred, many people unfortunately defaulted on their vehicle repayments. Therefore the banks took their cars back in to possession and sell them on auction for greatly reduced prices as they are only trying to make back the money still owing on the vehicle.