When Is The Best time To Buy a Car
A question being asked and answered repeatedly in many forums with to many useless theories
Let's begin by dispelling a few myths - 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. " new " When a manufacturer offers special incentives such as rebates or financing on certain models, these special offers have an expiry date in place. There are no other best times.
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. " new or used " A half hour before closing for the simple reason 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!
Here is an example I have been involved with 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 won't be at a 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 may introduce himself skipping steps to cut time and give you a firm price good for tonight only,,, tonight only,,, powerfull pressure words to play on your emotions, facts are 99.9% the deal will still be valid the next day unless a deal has been made on the vehicle in the interim period. Many buyers fall for the pressure pitch and wake up the next morning with buyers remorse., go home and sleep on it, don't let your emotions override your signature.
Personally if I was dealing with the today or tonight pitch only, knowing within full well this is a game played on emotions and manipulation, sleep on it 50% says you will get a phone call within 24 hrs,,, if not then phone the dealer and say thank you for your time the deal offered was just a few bucks beyond my budget, I would be prepared to ? if you stay firm within reason the odds are on your side getting an even better deal than the night before ,,, if you don't want to play the game this way go ahead let the dealer score, it's your hard earned bucks not mine.
# 6... When you enter the finance/business office its normally a slow process getting you to purchase aftermarket, but near or after closing time will most likely be a quick pitch cut in half trying you on for size. 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 profit.
BUYING NEW - hopefully I have persuaded you to realize there is only one best time to buy a new car of your choice, and it will happen if the manufacturer offers special incentives for a time period, all other dates take a back seat.
With the free tools at hand today I highly recommend getting free auto quotes before you enter a dealership, here are the 2 best top choices, take your pick, if you got the time get quotes from both as they may differ slightly " note - only residence of the US qualify for this free service "
BUYING USED - When you enter a dealership to buy a used car there is a process of steps the dealer will have in place to wear you down and maximize for profit. When you enter at a late hour chances are very high the dealer will skip some steps to maximize the sale, this does not necessarily mean you will save money but in many cases buyers will have benefited with the slow process not in place working on your emotions at a snails pace for extra profit.