One of the biggest acquisitions you will ever make in your life, besides a house, is a new car. Buying it is a crucial decision, which needs to be taken after considerable thought, as there it is a substantial monetary investment involved. Besides deciding on which one to buy, the 'when' question also needs to be answered. Car prices are a function of time as they can change according to various events that unfold over a year. If you want to save money, the timing of the purchase, is worth pondering upon.
Best Time to Buy a Car From a Dealer
There is no exact science that can tell you about the best time to buy an automobile. However, there is some common sense advice, based on the economics of car selling, that you will find useful.
September End to November
The rationale behind choosing this three-month stretch, as an opportune time to buy a car, is that brand new models are rolled out in this season. This means that dealerships are in a hurry to make space for new automobiles. This provides you with a possibility, that the dealer might be willing to lower the price, by a few notches. The timing puts you in a bargaining position. Also, if you go for older model cars in this period, you are bound to get a discount.
If you ask me, which is the best day in a month to buy a car, then common sense suggests that it should be the month-end. The reason being the fact that most car salesmen are after finishing their sales targets of the month and have an eye on the incentives offered. That's why, at the end of the month, you might be able to squeeze out a discount.
Last, but not the least, holiday seasons are suggested by some, to be the best time to buy a new car from a dealership. Since the demand is generally low during this time, salesmen are willing to negotiate on the price. You are in a better bargaining position and may hope to get a slight discount. The best time to buy a used car is just about any time, as the prices of these cars have already depreciated.
It is difficult to come up with an exact time, which is most opportune to buy a new car, but you may try out your luck with the suggestions made above. Understand the demand supply equation that dictates car selling and its price mechanism. If you ask me, the time of the year, when new models roll out, is the best time to purchase a car from the older lot. If you are patient enough to study the fluctuation of car prices over the course of a year, you will increase your chances of buying one at a lower price.