Why Year-End is One of the Best Times to Buy a Car

When you think of the end of the year, you’re probably thinking about the holidays, parties, pumpkin spice, and turkeys. While you are likely thinking about the gifts you need to buy for others, you probably aren’t considering a gift to buy yourself, such as a new car. Did you know that buying a new car at year-end is a great time to purchase?

Understanding the Times to Buy

While vehicles are available to purchase all year, and automobile manufacturers offer deals throughout the year, did you know that there is actually a great time to consider buying a new car? While the end of the month is historically a good time to make an auto purchase, the end of the year is also a great time because there will be some of the best deals manufacturers have to offer all year. The reason why these times are so important is that dealerships are looking to close their sales. For month-end, employees in the sale may have not hit their monthly quota and will, therefore, be more likely to work with you on the price you want.

When shopping at year-end, there are a few things to be aware of so you can get the best deal:

  • Year-end sales events: Because this is a popular time of year to buy new cars, many dealerships will be offering year-end sales events. These will be some of the best deals available to consumers. Typically, new models will come out at year-end, and this makes dealers eager to sell the previous years models to make room for the latest and greatest. Additionally, some people will buy new vehicles for family members as a Christmas present. To further entice this type of purchase, dealers and manufacturers will offer great deals to get people shopping.
  • Older models: As previously mentioned, dealerships are making wave for the next model of vehicles and will likely have some good deals on previous models. The downside of an older model is your color or feature choices may slightly be limited depending on what is in stock. (1)

How You Can Prepare

By looking out for these things, your vehicle search is already in the right direction. Wondering what else you can do? For one, do your research online and try to get estimates of what you could end up paying monthly on your new vehicle so you’ll be prepared when you get to the dealership. Next, if there are a particular make and model you’re serious about, do some research at different dealerships to see who can give you the best deal. Once you’ve done your research, you can use the offers from the dealerships to negotiate an even better deal for yourself. While you are likely busy with your own year-end activities, you’re still going to want to stick to when will be the best time at the dealerships. For example, New Year’s Eve and New Years Day are actually super popular days to score a deal on a new vehicle. With some research, patience, and planning, you can use the end of the year to get the vehicle you’ve been looking for at the price that’s right for your budget.


Sources
(1) https://www.forbes.com/sites/zackfriedman/2018/08/15/heres-the-best-time-to-buy-a-car/#7cae8c9e62ac

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