Most people think that the best time to purchase a car is at the end of the month. And they're 100% right. But there's a few other times that make more sense.
#2 The last week of December, between Christmas and New years, takes up the #2 spot for the best time to buy. Dealerships are coming up on year end, and if they haven't met their goal for the manufacturer, they may want to "give" cars away. Especially when they haven't met their goal, and an additional 10, 20, or 30 cars, could make or break them. So they're more willing to wheel and deal at this time.
#1 The best time to purchase a new car, is right after the new models come out. Leading up to the release of the new vehicles, manufacturers will enroll hefty rebates and incentives to get rid of the remaining inventory. Once the new models hit, the incentives usually get even better! The difficult part is timing it with when the new models come out. For some manufacturers, the 08's just came out. For some, the 09's just hit. And to make it more complicated, each region may have different release dates. Take the all-new Subaru Impreza WRX/STi. The West coast had them around October 2007. The northeast didn't receive them until January of 08. Another downfall is that by the time the new models have hit, what's left on dealers lots are generally the least desirable colors or model packages.
I recommend to folks, to get in a with 2 days left of the month. Do your research and go in ready to make a deal. If it's before the new models are out, but around that time, you can still get the color and package that you want, and life will go on.
Tomorrow we'll discus dealership shopping, and shopping prices from dealer to dealer.
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