When is the Best Time to Buy a Car
One of the biggest acquisitions you will ever make in your life, besides a house, is a new car. Car buying is a crucial decision which needs to be taken after considerable thought, as there it is a substantial monetary investment. Besides deciding on which new car to buy, the 'when' question also needs to be answered. Car prices are a function of time as they can change according to various events that unfold over a year. If you are going to save money, the question of when is the best time to buy a car from a dealer is worth pondering upon. I keep getting asked about the right time to buy a car that can fetch a reasonable price. That is what made me write this article on best time to buy a new car.
Best Time to Buy a Car From a Dealer
There is no exact science that can tell you about when is the best time to buy an automobile. However, there is some common sense advice based on the economics of car selling, that you will find useful. Here are some guesses on when is the best time of year to buy a car.
September End to November
The rationale behind choosing this three month stretch as an opportune time to buy a car, is that brand new models of cars are rolled out in this season. This means that dealerships are in a hurry to make space for new automobiles. This provides you with a possibility, that the car dealer might be willing to lower the price by a few notches. The timing puts you in a bargaining position. Also if you go for older model cars in this period, you are bound to get a discount.
Month Ends
If you ask me which is the best day in a month to buy a car, then common sense suggests that it is the month end. The reason is that most car salesman are after finishing their sales targets of the month and have an eye on incentives offered. That's why, at the end of the month, you might be able to squeeze out a discount from the salesman.
Holiday Season
Last but not the least, holiday seasons are suggested by some as the best time to buy a new car from a dealership. Since the demand is generally low during this time, salesmen are willing to negotiate on the price. You are in a better bargaining position and may hope to get a slight discount on the price. The best time to buy a used car is just about any time, as the prices of these cars have already depreciated.
It is difficult to come up with an exact time which is most opportune to buy a new car, but you may try out your luck with the suggestions made above. Understand the demand supply equation that dictates car selling and its price mechanism. If you ask me, the time of the year when new car models roll out is the best time to purchase a car from the older lot. If you are patient enough to study the fluctuation of car prices over the course of a year, you will increase your chances of coming up with a good time to buy a car at a lower price. Good luck to you!
