Timing is Everything
There is plenty of information on the internet about the best time to buy a car. However, be cautious of where this information is coming from, most of these individuals have never worked or experienced the day-to-day grind of a dealership. As a car dealer, I can tell you in my experience what some of the best and worse times are to buy a new or used car from a dealership.
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If you want to buy a new car at the absolute lowest possible price available to the consumer.
You must buy the vehicle when it has the largest customer rebates and factory-to-dealer incentives available from the manufacturer.
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Weekends are normally crazy because this is when dealers hold sales events and focus on the outcome of their advertising. Having an abundance of traffic will tend to make a dealer hold profits. If they lose a sale because of it, they know they have another car buyer right behind you.
Mondays are normally “clean up days” for a dealership. They focus on following up from the weekend’s business and taking care of any loose ends from the weekend’s sales.
“Tuesday or Wednesday”
Best Time of the Week to Buy a New or Used Car
Tuesday and Wednesday are normally the slowest times of the week for a car dealership. Most people work during the week and do not normally shop for cars. This makes business slow and traffic on the dealer’s lot scarce. I did whatever it took to sell a car when a customer showed up in the middle of the week. This is why I recommend Tuesday and Wednesday as the best times of the week to buy a car.
If you don’t have the luxury of time on your hands and cannot wait for the huge rebates and dealer incentives that come out towards the end of the year. The very last day of the month is the most opportune time to buy a car. If the last day of the month falls on a day the dealer may be closed, or for some reason you can’t make it on that day, plan your visit as close to the last day of the month as possible.
NOTE: You will want to have all your research and calculations done prior to the day you visit a dealership.
For new cars, most of the dealer incentives and customer rebates are released from the manufacturers during the first few weeks of the month. So, you may miss out on these discounts if you buy a new car too early in the month. As it gets closer to the end of the month, salespeople, managers, and the dealers themselves are doing everything they can to hit their monthly sales goals and quotas.
“Last Day of the Month”
Best Time of the Month to Buy a New or Used Car
As I stated above, a dealer and its sales staff have certain goals they must hit every month to achieve certain sales bonuses. As the end of the month draws to a close, some of these objectives are just a car sale or two away from being achieved. Salespeople and their managers become more flexible in making deals just to reach these quotas. Why? Because these goals are normally tied to their pay plans.
For example, let’s say a dealer gets a $500 bonus for every Toyota Camry he sells in the month of September, however he must sell a minimum of 50 Camrys to qualify. If the dealer hits his quota of 50, he will make an additional $25,000 from the manufacturer. That’s not a bad deal, is it?
Now, what if you’re the 50th person to walk into the dealership on the last day of the month and want to buy a Toyota Camry? You think you might get a little better deal so the dealer can get his bonus money? Yeah, me too. This is why I believe the best time of the month to buy a new or used car is the last day of the month.
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Manufacturers always apply the highest customer rebates and dealer incentives on new cars towards the end of the year. This helps the dealer move old inventory to make room for the new model year vehicles.
“Last Few Months”
Best Time of the Year to Buy a New or Used Car
September, October, November, and December are the months manufacturers are trying to make room for their new models on dealer lots. Vehicle manufacturers tend to provide consumers and dealers with the largest factory incentives and customer rebates during these months. Of course, the later in the year you can wait, the better.
Combining the last day of the month with the end of the year will increase your chances of saving the most money when buying your next new car. Keep in mind, as you get closer to the end of the year. The discounts get greater but a car dealer’s “older” inventory starts too thin out and so do your chances of getting the exact vehicle you want equipped the way you like.
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Some car buyers believe if they visit a car dealership while it’s raining, there will be no other customers on the lot and the dealer will be more willing to make a good deal to sell a car. Truth is, car dealers believe that if you’re out shopping for a car in the rain you must really need to buy a car.
This technique is just going to get you soaking wet while shopping for a car. The dealer is going to negotiate with you the same way as if it were a nice sunny day. If you’re shopping for a used car it will be difficult to really inspect the condition of the vehicle with the rain coming down. My advice is to stay dry and save your visit to the car dealership for a nice sunny day.
