Other than a home, the most expensive investment you’ll ever make is an automobile. It’s not an easy purchase by any means, and there’s a lot to consider. Do want to buy a new model or are you in the market for a pre-owned vehicle? What attributes are you looking for? What are the most important features you can’t do without?
One of the things that factors into a car purchase you might not think of right away is timing. Just by choosing the best time to buy a car can save you a lot of money. Considering how much a car costs, every penny you can save is a very good thing.
Another factor in buying a car is to determine the state of your credit. If you are carrying a large balance on your credit cards, this might negatively affect any financial help from a lending institution or the car dealership. Make sure you apply for a credit card after a few months of seeking a loan for a car, as each inquiry into your credit will deduct points from the all-important credit score.
It’s not a mystery that when you decide to buy a car, if you don’t know exactly what you’re looking for and establish your ceiling price, or the most you will spend, a persuasive salesman can pressure you into buying something more than you actually want. It’s a good idea to establish these parameters well in advance of actually hitting the dealerships. A little preparation now can save you in the long run.
New models are typically introduced in late summer. This means the previous year’s models are considered leftover, and you can negotiate a lower price because the dealership is motivated to get those cars sold and off the lot. Often, dealerships establish monthly quotas for their sales team, so the end of the month is an excellent time for serious negotiation on the price of a car. Again, it really pays to know exactly what you want and how much you want to pay for it, especially if you are prepared to walk away if the deal isn’t what you need.
Throughout the year, manufacturers will offer rebates, inexpensive financing options and other incentives to coincide with specific holidays, weekends or special promotions. You can set up email alerts and visit the manufacturer’s websites to keep track of promotions like this. There are many options when considering the best time to buy a car, and you can really save a nice chunk of money by timing it just right and doing your homework.