In the retail world, whether it’s clothes, groceries, or even cars, there is an ideal season in which purchases should be made in order to save money. If you know when to shop and where, you can get the deepest discounts possible and hold on to more of your hard-earned money.
Car dealers, like department stores, have a season for when they take markdowns on their inventories. If you are savvy and do your research, you can take advantage of these discounts. Here are a few tips to help you along when you get ready to hit the dealerships for a new vehicle. You will have money left over to gas up the new ride and cruise all over town!
- 1Like with great movies, be sure you wait until the end. With auto buying, wait to visit the lot or showroom late in the day, closer to closing time. The sales professionals are ready to go home, but they want to sell cars, too. And the sales managers who are approving your loan will be more apt to approve that financing to close the deal so he or she can close the doors of the dealership, too.
- 2The end of the month is also a great time to shop for a car. Dealerships need to meet their quotas, and if they’re running short towards the end of the month, they’re more likely to cut you a better deal. The same can also be said for the end of a quarter and the end of a calendar year.
- Buying a new car is a great idea in late summer or early fall. When the kids are back in school, you will have more time on your hands to shop for the right car, too. All of the new models roll onto showroom floors around this time of year, so they need to make room by getting rid of the inventory from previous year models. Like department stores, inventory that isn’t turned over (as they say) is bad for the bottom line. So the car dealers are looking to rid themselves of the old models and are willing to slash prices in order to make the sale.
- Avoid shopping for a vehicle in the late spring, when everyone is out trying to spend tax return money. You’ll have a lot of competition and the dealerships will be less willing to cut you a good deal.
The bottom line is this: When you’re shopping for a new car, dealers are most likely to be offering the best savings at the end of summer, at the end of the month or quarter, and at the end of the calendar year. It’s best to use common sense, like with any other shopping trip you embark upon. Think about all the factors going into your purchase, surf the web for good deals, do your research, and visit many car dealers to be sure you will get the best possible price on your new ride.
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