Buying a car is a huge decision for many people. Everyone wants the lowest interest rates, the lowest monthly payment and the best vehicle. We all strive to know the best time to buy a car, but what is the worst time to buy a car? There are a few tips that can help you time your purchase in such a way as to improve your chances of walking away a winner.
Never enter the car lot when it is overly crowded with people. The more people on the lot, the more cars are likely to be sold. You want to set foot on the lot when there are hardly any other shoppers there. This way, your sales representative will bend over backward to get you that new car. If there are dozens of people shopping and you decline the first offer from the dealer, more than likely the rep will let you walk off the lot without that car. Remember, when it's crowded, just drive on by.
Timing it right
At the end of the month, shoppers are flooding the car dealers because they think that is the best time to buy. In the past, it really was, but why would the best time to buy be when so many people are shopping? Chances of a sale are increased when more people are on the dealer's lot, so when certain dealers are over-crowded at the end of the month, stay away. Today, the beginning or middle of the month is best. The beginning of the month and the start of a new week are particularly good times to shop because people aren't out looking, and each sales representative is trying to figure out a game plan to meet his sales quotas.
Don't be a morning person
You don't want to go out shopping for cars first thing in the morning. You don't want to seem like you are ready to buy that vehicle. If the dealer thinks you are OK with walking out without a car, he will try to entice you with a good deal to earn your business.
Don't be the first on your block
When a new model comes out, don't be the first to go out and buy it. Some people feel that it is worth it to pay extra to be the first to have the newest car, but you could save thousands if you just wait until the new model has been in the marketplace for a while. If you can be patient, you will definitely save.
Not a happy new year
In the beginning of a new year, car dealers entice shoppers with many different advertising techniques. If numbers aren't being made right from the start, toward the end of the month incentives may be offered including cash-back rewards and APR specials. Don't go out the first week of the new year or new month just because of the heavy advertising dealers are running. Wait until you see an offer that works for you.
When shopping for a vehicle, there are benefits to shopping at any time, really. If you feel like you walked away with a price you are comfortable with and a payment you expected, then you probably got the best deal for you.
Knowing how to buy a car before you start negotiations can save a lot of money.