When Is the Best Time of Year to Buy a Car?
Getting a good deal on a car depends on when you purchase it. Car prices are known to fluctuate several times in a week or month. There are several factors that affect car prices, like slow sales months for dealerships, special sales event, holiday sales and the arrival of new models. Also, the prices of cars change with the seasons. If you are looking for the best time of year to buy a car, we have compiled a list for you.
Buy Convertibles in the Winter
The demand for convertibles is high during the summer. Hence, you will see their prices soaring with the increase in demand. If you want to buy a convertible, visit the car dealership during the winter when there are fewer takers for convertibles. There are higher chances that the salesperson will offer a favorable deal to get a sale and move the inventory.
Buy Four-Wheel Drive Vehicles During Summer
The demand for four-wheel drives increases in poor weather, especially during the winter season. The prices of 4WD vehicles drop during summer when the demand is low. You can time the purchase of a car with 4WD during summer to get a favorable deal.
Buy a Car in Month of February and August
Sales are usually low for car dealerships in the months of February and August. The reason is that buyers are waiting for new models that generally arrive in the months of March and September. You can take advantage of this lull and buy a car in the months of February or August. Though you will be getting the previous year’s model, you will be happy about saving thousands of dollars on the price.
Arrival of New Models
Every year, car manufacturers announce new models. This generally happens during the months of August and September. When new models are announced, car dealerships work hard to sell older inventory that becomes unattractive for many buyers. Many times you will find car dealerships offering hefty discounts on older models to make way for the newer models.
Holiday Sales Events
Sometimes shopping for a car during a holiday weekend can save you a good amount of money. Here are some popular holiday weekends when you will see heavy discounts on cars.
Memorial Day: It marks the beginning of the summer buying season and many car dealerships are eager to boost sales by reducing prices. During this period you also have the largest number of outgoing models and it is worthwhile to check the deals offered on these models.
Black Friday: It is the biggest retail shopping day in the U.S. and many people are glued to their TV screens and checking on the Internet for hefty discounts. In recent years, car dealerships have started offering favorable deals to customers to get in on the buying frenzy.
It is always nice to save some money. Instead of spending time to hunt for deals on regular days, plan your car purchase based on the information above and you can plan to save thousands of dollars.