When is the Best Time to Buy a Car?

Men Shaking Hands during Car DealWhen shopping for cars you want to find a prime sales time, when you get the best bargains, the most features and are better able to wheel and deal. When you do your research into the best time to buy a car, several factors come into play, but often, late summer is the best time for finding a good deal. Here is an overview of why.

 

Outgoing Models

New year models generally tend to roll out in the late summer and early fall. This means that car dealerships are looking to focus on selling the hottest new product while at the same time clearing their lots of last year’s models. As such, it’s a prime time to make a good deal on a new car for the outgoing model year.

In addition, if there is overstock on these cars, they can find their way to auctions, used car lots and other discount sale venues. Keep your eyes open in the late summer and early fall for car models that are brand new, just for the prior model year.

 

Incentives

As dealers are looking to offload their current-year models, they offer astounding incentives like cash back deals, very low interest rates, upgrades on technology packages and yes, discounted prices. Of course, when you’re looking at these outgoing models, you’ll find that your selection may be limited. As more people buy up prior year cars, finding the one you want might be a bit trickier. If you are flexible in your needs and wants, however, the incentives to be found in late summer can be very attractive indeed.

 

Competition and Strategy

Again, just about every lot is looking to offload those “outdated” models. This creates a strong climate of competition every year. That means if you are patient and flexible, you can compare prices and even play dealers against one another to get a great deal on a great car.

Play the strategy game. Do your homework, research the different cars and deals out there, and time your visit to the lot perfectly. Wait until a huge sale goes on at the lot, and go in the day after the sale ends. You’ll get a great deal on those cars that didn’t go during the sale.

 

Incoming Models

Some dealers offer great packages, incentives, and deals on sales and leases of the new models. If you can afford the higher sticker price, you can often get a great deal on a new model car if you jump in as soon as they hit the lots. Be prepared to negotiate your terms, but just about every seller wants to make a big and early impact with their new model cars.

With flexibility, patience, strategy and research, you will find that grabbing up a car in late summer can net you a prime deal. The best time to buy a car falls right after holiday sales and when next year’s models roll out. If you are looking to finance a car, we can help you get approved fast. Contact us today to get started!

Posted in: Car Buying Tips

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