Car Buying Guide

A car is one of the biggest investments that you make in your life – and you don’t want to do this wrong. From the exterior look of the car to the smooth operation of the engine, buying a car is not an easy task that you should make on a whim. For many, cars are a lot more than just an asset—it’s their style.

In the modern era, with so many car models and styles available and rising car prices, it is no surprise that people don’t want to spend all their savings on a car. This is where efficient decision-making comes in. To make it easier for you, we have the ultimate car buying tips – for both used and new cars– which will help make your decision easier.

A salesperson will never tell you this, but if you have heard that there is a ‘best time’ to buy a car – whether new or used – it’s true!

Best Time to Buy a Car

Just like every other industry, the car purchase market has a high and low season too. You can end up saving thousands of dollars if you pick the right time to buy a car.

For New Cars:

  • If you want to buy a convertible, you might find a good bargain for it in winter, say December. Since the demand for convertibles rises in summers as they are more desirable, dealers may offer lower prices in winter when the demand is low.
  • Look for deals at the end of each quarter. Every car dealer has a target to achieve by the end of the quarter. In order to achieve their quarterly sales target, car dealers are more likely to be in a position to negotiate and offer you a good deal – take advantage of that!
  • Heavy cars and four-wheel drive vehicles are more preferable in the winter season due to the harsh weather conditions. This is why the best time to buy them is in the summer as you may get better discounts.
  • Right before a new model comes out, the prices for the previous model may lower down. Go for the new cars at their last few days in the showroom. Dealers may offer you a deal as they need to sell their stock to make room for the new arrivals.
  • Car dealers also have weekly targets, so buying a car on a weekend could lead to a better possible deal.
  • DON’T buy a new model of a car right after it launched, or even a few weeks after launch. Once the buzz is quieted, there is a chance the dealer offers you a better deal.

For Used Cars:

Yes, there is also a ‘best time’ to buy used cars as seasonal trends and changing patterns in the sale of new cars essentially have an impact on the cost of used cars as well. Here’s a used car buying guide to keep in mind.

  • Since March and September are the peak months for the sale of new cars and launch of new models, and many dealers have vehicle-exchange deals going on, it is a good time to give negotiating on the prices a shot.
  • With the new models coming in September, dealers try to clear out the stock of used cars by July or August. This often makes these two months a great time to get a good deal on used cars.
  • Winter is usually a good time to find used cars for sale as dealers and even private sellers don’t want to go through the hassle of winter car maintenance. This is why they try to make a deal before the holiday season and might offer a good price.
  • The best time to buy used convertibles is winter, and for four-wheel-drive vehicles, it is summer.

Other Tips and Tricks

  • Some surveys show that the best time of the year to buy a new car is towards the end of the year and the best time each month is around the end of the month.
  • Keep an eye on advertisements as many car dealers and companies make offers and promotional deals on new and used cars. If you are looking for a Lexus in Naperville service, head over to https://www.lexusofnaperville.com/ and stay updated with the best car deals throughout the year.
  • In some cities, there are crazy deals going on throughout the holiday season. Christmas and Thanksgiving holidays may be a good time to look for deals on new and used cars as there are many savings offers to go on.
  • Additionally, another survey shows that the best time is actually right after the holidays. Not just Christmas, but the weekend right after Memorial Day or Labor Day is quieter in the market so you may get better deals.
  • Keep track of patterns. Every city and dealer can have a different system going on, hence, before buying a car, do your research and notice the patterns.

What Other Factors Will Contribute to a Good Deal

There are some other factors to consider through which you can end up making a good deal and saving your money.

  • Credit score – regardless of the time of the year or month it is, a good credit score will get you in a good bargaining position. You can get a good deal on a lease and be able to get your favorite car without high-interest rates.
  • Time and patience – if you have your eyes on your dream car, the best way to do it is to save for it and with a combination of patience and timing; you can manage to get your hands on your dream car without having to wait for a specific time. Buy your car when you are ready for it!

Author Bio:

Shannon Garofalo is a Web Director at Lexus of Naperville, a well-known Lexus dealer in Naperville, and has been working with the Dan Wolf Auto Group for last 8 years. Writing for cars is her passion, while she loves to ride her new Lexus SUV RX-350 when not at work.