When is the best time to buy a car?

In this article, we will discuss the best time to buy a car and divide it into subheadings with a brief description for each.

What is the best time of year to buy a car?

The end of the year is considered the ideal time to buy a car, as there are discounts on new vehicles for the current year. These offers begin in October and continue until the end of the year. When Black Friday arrives, the available options are very limited. Additionally, March is a suitable time to buy a new car, as there are discounts on new models, and dealerships are eager to get rid of existing inventory.

New cars vs. used cars

It’s important to note that the previous information applies only to purchasing new cars. For used cars, there are different rules. For example, the longer a used car has been on the lot, the better the deal tends to be. Dealerships typically reduce prices after 20 days of a car being on the lot, and after 30-40 days, the price is reduced again. However, after 90 days, the price may not drop significantly. To find out how long a car has been in stock, you can check Cargurus.com or look at a Carfax report. When negotiating for a used car, it’s best to avoid showing excessive interest in the vehicle, so the seller doesn’t realize it’s the only car available in the area and thus won’t be willing to negotiate on price.

Passenger cars vs. trucks

According to experts, there isn’t a significant difference in the best time to buy a passenger car versus a truck. However, summer is considered the right time to purchase convertibles and sports cars, while trucks and SUVs become more desirable as winter approaches when drivers need them more.

Other factors to consider

There are other factors to consider when buying a car. For example, dealerships located outside the city may be more competitive in pricing and sales due to having fewer people passing by the dealership each week. After identifying potential options, you can look at dealerships within a 45-50 mile range if you live in a large city in the United States. Good research can help you find a great deal, as prices can vary by thousands of dollars between different dealerships.

Conclusion

Although 2021 was not a record year for car purchases, it doesn’t hurt to experience some of the strategies mentioned above. One final tip from experts is to be flexible regarding the car you want to purchase, as what might be more important to the buyer is the price or down payment rather than the car itself.

Source: https://www.thebalancemoney.com/when-is-the-best-time-to-buy-a-car-5190246