When Is The Best time To Buy a Car
Having seen this question being asked over and over again in forums with many theories, I decided to provide my own version of this topic to the website. Let's begin by dispelling a few myths.
Month end, year end, new model arrival ... every day is a sale day!
Month or year end
You would be fooling yourself if you thought these periods were optimal buying times. It really does not matter to the dealer's principal if it's the 30th or 1st of the month. Perhaps some poor salesperson is hoping that one extra deal will meet his target for a bonus, but the salesperson has no say in the matter as to what the final price is. For the manager, meeting his target is not so much a function of how many cars they move but the total gross profit.
Buying a current model when the new models arrive
This one requires some homework. In most cases you will find the new model year with manufacturer's incentives and rebates to be cheaper to finance or lease than the current model year that the dealer has in inventory. If you are paying cash and think you are saving money by purchasing the current year model, allow for a depreciation factor in your calculation since the vehicle has effectively aged a year the moment you hit the curb.
The two best times to buy
1. When a manufacturer offers special incentives such as rebates or financing on certain models, these special offers have an expiry date in place.
When a salesman tells a buyer this special program is about to expire, he is "telling the truth". Often consumers will laugh thinking it's another sales pitch, only to return to the dealership having missed the opportunity.
2. A half hour before closing for the simple reason that some managers, salespeople and the business managers may have been on duty for 12 hours and just want out. They really don't want or feel like working you over for the big profit having to stay an extra hour or two. They have a life too and want to go home...trust me on this one!
Summary
Here is an example I have seen happen hundreds of times when a buyer wants to negotiate with salesman at closing times
# 1... The Sales Mgr along with the Finance Mgr can't go home till last customer leaves.
# 2... The selling process by dealer wont be at the snail pace to wear you down and steps will be skipped
# 3... The Sales Mgr will most likely not send salesman back several times with worksheet for more profit
# 4... The Finance Mgr is sitting in his office yawning looking at his watch
# 5... The Sales Mgr will introduce himself skipping steps to cut time and give you a firm price or come back tomorrow
# 6... Its a deal and your now going to the finance office
When you enter the finance office its a process that could take an hour trying to sell you after market products, at this late hour the process will most likely be cut in half trying to wear you down, keep in mind all the time your in the finance office the Sales Mgr and Salesman are waiting to go home but can't as both have to sign bill of sale.
Yep, the clock is ticking beyond closing time and we all start fresh in the morning, and anyone that comes to buy during the day we will have all the time in the world for the proper steps to be back in place selling cars for huge profit.
