Everyone wants to purchase a product and save several pounds on a discount. When it comes to buying a car, discounts and incentives mean a lot. It is not an easy task to know the best time to buy a car to save the maximum. Many manufacturers choose specific months as a part of their promotion such as November due to Black Friday. This strategy increases the sale, and commodity goes out of stock.
The prizes of cars depend on several factors such as dealers get an extra discount to clear stocks; salesperson awarded bonus if they hit the target; change in buying behavior due to changing fuel prices and many others. There are different theories applicable to this topic with the grain of truth in many.
Seal the deal at the month end
Dealers may offer a discount on the car at the month end as they can hit a big bonus by completing their sales quota. The sales team is motivated to cover up any loss by the bonus money. So grab the best deal and do not forget negotiating to get the super low price.
The best month to purchase a car
According to Edmunds data, December month gives perfect storm on savings. January, February, March, and April are the least discounted months. May, June, July, and August are better discounted months and October, November and December are most discounted months.
The Best Day to Buy a Car
You can expect maximum attention from the sales team at the starting days of the week because weekends are busiest. Multiple customers distract salesperson. So show up on Monday/Tuesday/Wednesday, and you can ask as many questions as you want to be satisfied with the product.
Grab the Deal at the End of Model Year/ Car Design Cycle/Car Life Cycle
Most of the manufacturer transit into new models during August and September. So summer is the best time to shop for the outgoing model. If you are not bothered about styling or the latest technology, then buy the car for which the manufacturer is launching a new model. This will save a lot. Sometimes the manufacturer announces to stop the manufacturing of a certain model. This period gives a bigger saving.
Final Tips to buy a car
You can buy a car on great deals at different times of the year. All that matters is your comfort, selection of model and need. So buy the car when you are ready to buy irrespective of the time. Look for special offers and keep an eye on price fluctuation on holidays too.