"Year End Clearance Sale" was of course, at one time the best time to buy a car; however, this may have been true in the past because car dealerships needed to sell the last years models to make room for the new model. In today's automotive market, new cars are being introduced all year long, therefore, this old saying does not hold true any more.
In order to know the best time to buy a car, you have to do your homework and pay close attention to when next year's models will be arriving. Some manufacturers have their new cars on the lots in the spring or summer; however, there is no set date for the arrival of the new cars.
If you are observant, you will pay attention to when a dealer announces that the new models are arriving. Now, is the time to purchase last years models. They have to be sold to make room for the newer models. This is when the dealer is apt to make you a great deal on a new car or at least one from the previous year for that model.
December is a great time to visit a car dealership, not because of the car dealership or their inventory but the car lots are vacant of customers. Many people are out purchasing Christmas gifts and the thought of a new car is not on their mind, therefore, deals can be made because customers are scarce.
In some cases, when it is time for the new cars to be sent out, you may find that you can get in when new car dealers sell off cars at low prices to clear space for new car models, however, you must pay attention to when they will arrive. Car dealers can receive secret factory to dealer incentives, which can be as high as $6000 and even receive new car consumer rebates. This means that the dealer can receive this much money back for selling you the car, so they have more money to play with.
Another thing to consider is the car salesperson. He has quotas to make and must meet these quotas because he will be judged by his sales performance. If he is not selling cars then he may be put on the butcher block and be gone within the next month. Car dealerships desire salespersons that can sell cars. If they are not selling, they are not making money for the dealerships. Therefore, visit a car dealership when the pressure is on for the car salesperson to perform.
If a car salesperson has had a slow week, then he will be more than willing to do everything in his power to make a sale even if he does not receive much in commission. If he has had a slow week, then Saturday would be the perfect time for him to give you a deal of a lifetime. Also, at the end of month, is another great time for better than average deals since he will be trying to get his quota in before the end of the month. Visiting a car dealership after the 25th of the month is a prime time for a good deal. In addition, the end of year is another great time to get a better deal. This will be the sales person's last chance for good annual figures. Shopping in December for a new car could give you all kinds of rewards especially if your car salesperson has not had a good week, good month, or good year.
December may be the overall best time to buy a car since customers are scarce, car salesperson want to report a good year, and of course, the dealership and salespersons want to receive commission for their efforts.
The best time to buy a car is when you do your homework, know when there are rebates to be had, know when the dealership has been slow, and look for deals. You can always negotiate a better deal if you use your car as a trade-in, get better interest rates by having good credit, and of course go shopping when car sales are down.
Dennis is the owner of Mr. Car Quote a site dedicated to finding the best price on new cars and the best price for used cars.