Purchasing a new car involves a significant investment. However, with the right timing, you can make a handsome saving. This justifies why automobile owners wait for the right time or season to purchase their vehicles.
So, it’s natural to wonder, ‘when is the best time to buy cars?’ Choosing the right day, or the best time of the year to purchase your car can make a visible difference in the price you shell out.
In the end, it feels incredible to bag a great deal. Once you purchase the car, reach out to one of the insurance experts like Surex to purchase an affordable policy. In general, the best time to make your purchase is at the end of any period, be it a calendar year, month, design cycle, or car model. Let’s explore this domain a bit deeper so that you can maximize your savings.
The ideal time to purchase your car
Think of discounts, rebates, Black Fridays, and end-of-season sales. An informed decision can help you save hundreds of dollars when you purchase your car. We have discussed when is the best time to buy cars under different time segments.
1. Best day when you can purchase your car
Visiting your automobile dealership during the off-season or off-peak days can help you make a saving. Rather than visiting the dealership on weekends, try to choose Monday, Tuesday, or Wednesday. Also, you can check out these models on one of the rainy days when the dealerships are less crowded. Negotiating the price becomes easier when you opt for a slow day at the dealership.
Refrain from visiting the dealership on weekends when they are crowded. This ensures you will enjoy more time and attention. Otherwise, you need to rush through the process, ask questions, and bargain a better deal.
2. Best month when you can purchase your car
Experts recommend the months between October to December to visit the automobile showroom. As the dealership nears the end of the year, they try to clear the older inventories and models. So, you can bag great discounts during this period of the year. Most dealerships come up with sale quotas and offer alluring deals to sell their old cars off.
Even when you check out historical data, you will find the best deals coming up towards the end of the year. Moreover, this period often coincides with the Black Friday offers. Eventually, you can end up with a great deal for your car.
3. Choosing the off-season to purchase your car
In general, automobile owners choose the late fall to purchase their cars. In case you are willing to purchase a convertible or similar model, this would be the right time to proceed. During winter months, the demand for such cars remains low. This explains why many car owners wait till the fall to purchase these cars. If you have made up your mind to purchase a specific type of car, wait until the off-season arrives.
Likewise, if you have an AWD SUV in mind, wait till the summer months. Since the demand for SUVs for navigating wintery terrains remains high in winter, you need to time your purchase in summer.
Similarly, you might be wondering, “when is the best time to buy used cars?”. Year-end is the best time to purchase a second-hand car. Since most car owners upgrade at the onset of a new year, you can get multiple options.
4. Purchase after the release of new models
New models hit the market mostly in late August and September. With new inventory being available at the dealerships, they offer the old vehicles at reduced prices. So, this would be a great time to shop for your car and negotiate a lucrative deal. If you are comfortable with one of last year’s models in brand-new condition, this strategy should help!
Besides, certain manufacturers release new inventory during the spring. If you have made up your mind on the brand to go for, simply find out when the automobile maker is likely to launch new models. Equipped with adequate information, you can time your purchase accurately to wrest a sizable discount on the last season’s inventory.
5. Look for low prices at the month-end
Every dealer has some monthly sales quote to fulfill. So, if you are desperate to bag a great bargain any time of the year, try to make the purchase at the month-end. Besides, experts recommend venturing into the dealership at the end of the quarter. During these periods, you can enjoy a sizable room to wriggle a deal for a better price. If you are lucky, you can enjoy a special bonus.
6. Purchase at the end of the design cycle
For some vehicles, the manufacturers decide to upgrade the models and get them redesigned. You need to keep an eye on the end of the design cycle of the vehicles. Most dealerships would try to sell off the previous year’s models. So, a price drop should be on the cards. In case you are not too tech-savvy and are comfortable without the latest modifications, you can settle for one of the older models in new condition.
7. Purchase as the car nears the end of its lifecycle
Keep an eye on the lifecycle of cars and know when the manufacturers are likely to discontinue their production. This way, you can make an affordable purchase.
However, also look out for a car with a low depreciation value. If you want to keep the vehicle for some time before you sell it off, make sure the depreciation doesn’t land you in a loss. In this way, you can settle with a discontinued model and enjoy a great bargain.
Get your new car properly insured
It doesn’t matter when you purchased your car as you try to get it insured. Without proper automobile insurance, you won’t be able to take the car to the streets. Most automobile owners look beyond basic liability coverage. Working closely with one of the established insurance experts can help you find an affordable package.
When is the best time to buy cars in Canada? — Endnote
Well, now you know the best time of the year, and even during each month, to purchase your car. If you have the liberty to wait till the right time, you can manage to make significant savings.
Regardless of when you make the purchase, reach out to the insurance experts to get the vehicle properly covered. The experts can help you narrow down your options from the best deals offered by the top insurers.