I hear this question frequently. “When is the best time to buy a new car?” Well that time is upon us so let’s discuss the best day to buy a new car for the lowest price.
Most of us prefer to have a new car. For some it’s a status symbol, for some it’s a reliable car with a warranty, and for others it’s about the idea of having a car that no one else smoked in or abused in any way. Whatever your reason for wanting a new car, you’ll want to negotiate the best deal possible on your new set of wheels.
According to national statistics on new car sales there are certain times of the year that are optimal for cutting a deal well below MSRP (manufacturer’s suggested retail price). The best days to negotiate are the last days of the calendar year. So, if you’re in the new car market or don’t think your old clunker is going to make it another year, your best chance of walking away with a new car, well below the sticker price, is the time after Christmas and Hanukkah and before the New Year.
Now, that car bargain you’ll find is going to be on THIS YEARS new cars. Why? Well, next year’s (2013) new car models start showing up at car dealerships toward the end of the summer and keep flowing in through the fall at car showrooms all over the US. Many dealerships by the years end of 2012 still have this year’s new cars on the lot. They need to make room for new cars PLUS, once the new year rings in, consumers view those 2012 models as “old” and they’ll be much harder to move off of the lots.
The second best time to purchase a new car is the most popular shopping day of the year! You guessed it – Black Friday! While everyone else is out shopping for deals on a flat screen or new gaming system statistics show that it’s a great day to cut a deal on a new car.
Before you purchase your new car make sure you can afford the payments. I always prefer to secure a loan for a new car before walking into a dealership – that way I’ve already calculated the loan amount , my payment schedule and I’m not forced to make a decision on payments on the spot. I’m already aware of the maximum payment that I can afford and I can specifically look for a car that is well within my budget. If you find an interest free offer at a car dealership however, that may be difficult to pass up!
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