Car Buying-How to Time it Right
Car buying has changed drastically during the last decade. Back when I would tag along with my dad, the only option was to go to the dealership and negotiate with the salesperson or private seller. Honestly, I really enjoyed watching my dad make the deal!
These days, many car buying steps can be completed online. No matter how you do it, the key to getting a great car deal is timing.
What’s the best time to purchase a car?
To answer this question, think about when salespeople are under pressure to make their quotas—the end of the month, quarter and year are generally the best times to make your purchase. This is when they are likely more willing to reduce the price to get the sale.
The last quarter of the year—October, November and December—is an especially great time to buy because dealers are also trying to make room on the lot for the next year’s cars.
Holidays and weekends are peak times and should be avoided if possible. If you must shop at these times, be sure to do your research beforehand, be ready with an offer and have your financing in place.
Is now a good time to purchase a car?
The answer depends on three factors:
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What type of vehicle do you want?
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How badly do you need it?
Now is a great time to buy if you want a traditional sedan or older in-stock vehicle. Vehicles like these are generally plentiful, and dealers are anxious to get them off the lot. If you’re looking for a truck or SUV, you may want to delay your purchase if you can. Since inventory is tight these vehicles are generally priced higher.
Car sales, like most everything else, suffered during the pandemic. While some sales have recovered, some aspects of the market are still uncertain.
Where do I start?
The internet is now a viable place to research, schedule your test drive, negotiate, finalize and deliver your new wheels. Start with the old stand-bys like comparing makes, models and years and reading blogs from industry experts.
Then try researching the new way. Check out YouTube to see the latest offerings from car manufacturers. Take a virtual test drive and look under the hood with your salesperson via Zoom or FaceTime.
Enjoy your search and adventuring on the open road in your new ride!
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