Yahoo Finance Why Timing Matters: Best Times To Buy a Car and Save Big
There are many approaches to buying a new — or new to you — car. Some people prefer to plan carefully, researching makes and models well in advance, giving heavy credence to reviews. Others? Well, they like to ride their car down to the rims, sparking right into the car dealership.
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Regardless of which side of the spectrum you fall on, you might not think the time of month or year you buy that car can impact the discounts you can get. However, by timing your purchase strategically, you can actually make a massive difference in the price of new and used cars.
The End of the Year Is a Good Time for New Cars
The holiday season is good for more than just holly jolly fun times, it’s actually a prime time to get sparkling deals on new cars. According to Blake Shaw, your friendly neighborhood automotive expert and author of the All About Wheels blog, the best time to get this year’s best models is around November and December.
“For the sake of making space for next year’s inventory, dealerships are in a rush to unload current-year models,” she said. “Big sales events with steep discounts, such as Black Friday and end-of-year clearance sales, occur during this time.”
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The Beginning of the Year Is Good for Used Cars
For Hannah Middleton, automotive expert and co-founder of Auto Locksmith Corby, the cold months are the hottest time to get good deals on used cars.
“The beginning of the year tends to be slower for car sales, which can work in favor of buyers. Dealerships are more motivated to negotiate prices to move inventory during these slower months,” she said.
Post-Tax Season Is Another Terrific Time
Middleton said that another surge in car buying typically happens after tax refunds are distributed.
“Dealerships often anticipate this and may offer deals to attract buyers looking to spend their refunds,” she added.
Look to the End of the Month or Quarter
Circle your calendars for the end of the month or quarter if you want to get a great deal on a new or used car. Middleton said that salespeople aiming to meet their sales targets might be more likely to offer discounts.
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This article originally appeared on GOBankingRates.com: Why Timing Matters: Best Times To Buy a Car and Save Big
