‘Tis The Season (or is it?) — When is best to buy a car from the dealership?
It’s in your budget, you’ve been itching to drive it, and the model you are looking for is ready to roll off the lot. Why not save a bit of money while you’re at it? Your best friend and negotiating tactic is Time. When is it the best time to buy a vehicle you’ve been saving for? Let’s touch base on the opportune moments of the day, week, month and year to buy a vehicle from the dealership.
By The Clock
We’ll start small with the immediate factor: TIME OF DAY. The best times of the day to walk into your dealership are just before lunch and just before closing. Traffic slows down just before lunch at most dealerships, meaning you’ll get a more personal treatment when your sales associate hasn’t got to jump between helping guests.
The end of the day is just that–most dealerships have a daily goal that they need to reach and closing a deal right before closing the doors can really stretch the distance. Plus let’s face it, your sales associate wants to go for lunch, or get home from a long day’s work. Making them more likely to cut a deal or throw in bonus offers to make the sale more beneficial to you.
Looking at The Week
The best days of the week to stroll around the lot are the early ones. Less people are inclined to shop for vehicles on Monday through Wednesday. Having a crowded dealership means less personal attention leaving you with less negotiating leverage. Heading in on a monday morning is going to present you with a sales associate who can cater to your needs while being more inclined to use their limited opportunities to make a sale.
A Broader Look at The Calendar
Days of the month will be a factor too! The first few days the month are generally the slowest at any given dealership. Many sales associates want a good start on their monthly quotas and often have a certain mentality: Bad start = Bad month. With the last few days of the month looming in on their quotas, your opportunity to find some extra savings will grow.
The right months to be looking for your vehicle depend on a couple factors: Quarterlies, Year End, and Model Year End.
We’ve taken a look at quotas and every sales associate has one. Reaching quarterly and yearly quotas can mean big bonuses from the boss–making these great times for you to save.
Model Year End is when the new models are released. This usually happens in september and the dealerships like to keep a lean inventory. There is only some much room on the lot for stock! So the price of this year’s model will drop to make room for the new vehicles. Shop for the current year model to make room for the new one – win/win. The dealership will likely be lowering prices as the year closes out, as well.
Holiday Sales will be popping up from then on. Labour day, Black Friday, even Christmas Sales are all going to save you big bucks! But if you can hold out and the inventory is still there, getting your car on New Years Eve could be your greatest savings. It’s a holiday, with monthly, quarterly and yearly quotas on the line may have you rolling out with the best deal you ever made on a new or newer used vehicle.
All sorts of incentives are given to dealerships from manufacturers to help move certain models off of the lot–especially when they are selling as well as hoped. They aren’t scheduled and don’t always come up, but money-off discounts, low-interest financing, cash-back rebates, trade-in deals and loyalty programs will all save you more. You just have to keep yourself informed with the dealerships that you are shopping.
Remember that these aren’t the rules to car sales. The tips provided are more of a guide to helping you find the right fit, and maybe keeping a little more of your savings than you had planned.