What is the Best Time to Buy a Car?
Buying a car is a significant decision, and timing can play a big role in ensuring you get the best value. Here, we’ll explore the ideal periods throughout the year to purchase a vehicle, and provide insight into how you can maximize your savings and get the best deal.
1. End of the Year (December)
One of the best times to purchase a car is during the last months of the year, especially in December. Car dealerships often have annual sales targets, and meeting them is essential to maximize their bonuses. To clear out inventory for the upcoming models, many dealerships offer attractive discounts in December, making it a prime time to find deals.
2. End of Each Quarter (March, June, September, and December)
The end of each quarter is another excellent time to buy. Like end-of-year sales, dealers aim to hit their quarterly targets, often leading to special promotions and discounts. These quarterly discounts might not be as extensive as the end-of-year deals, but they are still valuable for budget-conscious buyers.
3. End of the Month
Many dealerships also work on monthly sales goals, and reaching those targets can impact a salesperson’s commission. As the end of the month approaches, sales representatives are more likely to negotiate and offer better deals to meet their quotas, making it an ideal time for buyers to secure a discount.
4. Model Changeover Period (August – October)
During late summer and early fall, car manufacturers typically release new models, creating an opportunity to buy last year’s models at a discount. Dealers are often eager to make room for incoming inventory, leading to better deals on slightly older models with new-car warranties and minimal mileage.
5. Holiday Sales Events
National holidays like New Year’s, Eid, or even Ramadan in some regions, are prime times for holiday-themed sales events. Dealerships often hold promotions to attract more buyers during these peak shopping periods. These events sometimes include lower interest rates, cash-back offers, or limited-time incentives, making it worthwhile to plan your purchase around a major holiday.
6. Early in the Week (Monday or Tuesday)
Visiting a dealership early in the week, particularly on Mondays or Tuesdays, can also increase your chances of getting a great deal. Dealerships are often quieter, meaning salespeople may have more time to dedicate to each customer and might be more willing to negotiate than they would on busy weekends.
Final Tips for Buying a Car
- Research Prices and Incentives: Stay informed about the average market prices and check for manufacturer incentives.
- Consider Your Financing Options: Many dealers offer promotions, but always compare them with your bank’s offers to find the best financing deal.
- Test Drive and Inspect: Always test drive the vehicle to ensure it meets your needs, and inspect it for any potential issues before making a purchase.
Choosing the right time to buy can lead to significant savings and a smoother purchasing experience. At 2020MOTORS, we are committed to helping you find the perfect car at the best price year-round.
