Rarely is buying a vehicle a simple, straightforward process. Usually, it involves a significant amount of research, deciding between a bevy of models, and determining how to work it in your budget while saving as much money as possible.
One factor that many consumers consider is when to buy a car. After all, there is a lot of information out there that suggests the optimal times for walking into a dealership, broken down by days of the week, months, holidays, and more. Though it’s hard to predict what kind of price you’ll get at any given time, there’s one stretch of time that proves to be a great time to buy a new vehicle: the end of the year.
Indeed, if you decide to make your big purchase as the year comes to a close, chances are pretty good that you’ll find at least some decent deals and probably some great ones. Of course, you don’t want to rush into a decision only to drive away in a vehicle that you later regret purchasing. Below, we’ll get into what makes the end of the year such a good time to buy a car, as well as some practical advice for ensuring it’s the right time for you.
Buying at End of the Calendar Year
As previously, mentioned, there are several times throughout the year when you can consistently find deals and incentives for a new vehicle. The end of any given month is often the best time to visit a dealership, especially if you get a salesperson who has yet to meet their quota for the month. This could leave them more likely to make a deal with you. As far as which months to buy a vehicle, October, November, and December are the best. This is because dealerships are trying to make room for new inventory of cars from the next model year. Plus, in November, you have Black Friday. Just like with retailers, this can be a big holiday for dealership sales and promotions.
By the time December comes around, the stage is set for a perfect storm of savings. Monthly, quarterly, and yearly quotas must be met by salespeople. And dealerships are more eager to move vehicles from the previous model year to stock their lots with the newest models available. And New Year’s Eve and New Year’s Day are bound to see some significant discounts.
Buying at the End of the Model Year
Indeed, one of the biggest advantages you have when shopping for a vehicle at the end of the calendar year is that dealerships are trying to make room for new stock. This means that they may be more willing to offer deep discounts on cars that are at the end of their model year. Not only can you score a great price on a new vehicle this way, but manufacturers often provide other incentives on outgoing model year vehicles to get them off dealer lots. These incentives could include anything from 0% interest to cashback offers to good lease deals.
The opportunities for savings at the end of a model year hold true whether or not the vehicle you are purchasing has undergone any significant design changes for the new model year. Dealers always find it easier to sell “next year’s model.” This is excellent news for you, as long as you don’t care about having the upgrades offered by next year’s model. After all, you’re still getting a brand-new vehicle!
Making Sure It’s the Right Decision
No matter how good of a deal you get on a new car, you want it to be the right financial decision for you and your family. Preparation is key here. You need to know your credit score so that you can estimate what kind of loan you will be able to get; loans with 0% interest, for example, are typically only available to buyers with good credit. You’ll also need to have a clear understanding of your overall financial standing so that you choose a vehicle and loan that you can afford in the long run. If you haven’t had the chance to prepare your finances, consider holding off until next year.
The end of the year is truly a great time to buy a new vehicle. Consider the benefits, and look over your finances so that you can make the best decision for you and your family. You can view our selection of Toyota models online or visit Mount Airy Toyota in person to see for yourself. Or, just give us a call to speak with a team member about our end-of-year savings opportunities!
No comments:
Post a Comment