When is the Best Time of Year to Buy a New Car?
Are you in the market for a new car? Are you in the market for a new car? Fall is a great time of year to go new car shopping and the time of year that you are most likely to get a good deal. Why is that? New cars for the next model year typically start making their way to dealerships in the late summer or early fall. This means that car dealerships need to make room for new inventory.
So what are some ways that you can get the best deal?
Steer clear of first year models.
Whenever a company comes out with a new make or model, it is usually more expensive, especially if it has been highly anticipated. Car makers also refine and make changes to a design after a car has been on the market for a year or so that could affect safety, performance, or usability in future models.
Dealer cars are nearly new, without the new price.
Dealer-driven cars are basically new cars, except they will have a few miles on them. These cars may be driven by someone from the dealership or used as courtesy cars for a year and then sold. You can really get a good deal on these because they are considered “used” cars, even though title has never actually transferred.
Last year’s model will get a discount.
Just like any other retailer that needs to clear out old inventory to make room for the new, car dealers are willing to discount last year’s models to move them off the car lot. These cars are brand new, except for a couple of test-drive miles on them. You may not have a lot of choice in color or options because you will be limited based on what is left in inventory, but you are sure to save thousands of dollars as compared to the new model- year vehicles.
Limit the extras.
Find out what options come standard on the vehichle that you are looking to purchase and which are extra. You can literally save thousands of dollars by getting a vehichle with only the options you need.
Do your research before you step onto the car lot.
- If you have a trade-in, or are looking to buy a used car, go to a website to estimate the car’s value:
- Decide what type of car you want and what options you need. Saving money is only a good deal if the vehicle will suit your needs. Most car manufacturer’s websites have car builder options available. This allows you to price a new car with only the options that you want; this can give you a good idea of what price you can expect to pay.
- Look up inventory online. Many dealerships will have their inventory available to view online. This can be a huge time-saver when it comes to deciding which dealership to go to, instead of actually going from one car lot to the next.
- Call several dealerships before visiting in person. This is a quick, efficient way to comparison shop without having to spend an entire day driving from dealership to dealership to figure out where you can get the best deal. Most dealerships are willing to quote prices (excluding trade-in) over the phone. This is definitely worth your time to do because prices can vary greatly from dealership to dealership.