When is the best time to buy a car?
We’re down to the last two months of the year...

We’re down to the last two months of the year and soon the Thanksgiving, Christmas and New Year’s Day holidays will be upon us. In quick succession, they will come and go, bringing us to a new year with a host of fresh possibilities and goals awaiting us.

Black Friday

 

The day after Thanksgiving is known as “Black Friday” or when merchants offer tantalizing deals to help kick off the Christmas shopping season. The day is so busy that malls are packed with customers from well before sunrise to late at night.

Pity the poor new cars salesperson who looks out at the traffic-choked roadway and observes potential customers whose minds are locked on getting a Christmas gift deal and nothing else. Few customers venture to dealer lots and that omission may cost them a big bargain.

Best Days of the Week

 

You may think that shopping for a new car on a weekend is the ideal time to buy. However, that usually isn’t the case unless it’s the end of the month and dealers are clamouring to meet their sales quota. Keep in mind that there’s no way to know if the dealership has met its quota. Don’t expect the salesman to greet you as you enter the showroom by saying, “Gee, we’re really glad you stopped by today. If we make a sale, we’ll meet our monthly quota!”

Monday may be the best day of the week to buy a car as most of the business has been conducted over the previous weekend. The lower the foot traffic, the more likely you’ll have increased negotiating power. This may be even more apparent in December when people are stepping up their Christmas shopping. For instance, if you shop on the Monday following the Thanksgiving weekend — also known as Cyber Monday — you may find showrooms are nearly empty.

At Year End

 

Some people think that December 31 is the best day to buy a new car, especially as the calendar year comes to an end. Although it can certainly be a good day, the first few days of the new year can be a good time to shop too. Why? Because those days are counted in the previous year’s totals.

 

Dispelling Myths

 

Just as there is a best time to buy a new car there are some myths about timing your purchase that should be examined and dispelled.

For instance, some people believe that shopping for a new car on a rainy or snowy day is ideal for securing a bargain. On the contrary, many dealerships are packed with people whose plans were changed because of the foul weather.

Arriving at a dealership just as your sales associate is ready to leave for the day seems like a great way to snag a deal too. After all, she may have plans and is eager to get home. Don’t be fooled: sales people are used to working well beyond their scheduled hours in a bid to secure a deal. Besides, it is the sales manager who ultimately approves or nixes any deal.

Get Prepared

 

Now that you’re ready to buy a new car, visit the manufacturer’s website to identify the vehicle and trim level that interests you. Contact at least three dealerships to obtain quotes. Learn what incentives are available, which is information that is typically found on the manufacturer’s website. You can arrange financing on your own or do so through the dealership, but with the latter choice you may forfeit cash back in exchange for cut-rate financing.

 

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