The best time to buy a car is not as soon as the money you’ve been saving is complete and is definitely not when a new model car is being released. Unless you don’t care too much about saving hundreds, if not thousands of dollars on a car deal, then you can buy a new car any time. But if you’re like many of us who do, you absolutely need to read this post.
Here are some of the best times to get a good bargain on a new car in Canada.
Towards the End of the Month/Quarter
Every dealership has sales goals for each month and quarter and is determined to reach this quota. As the end of the month draws near, this determination sometimes turns to desperation – which you should take advantage of. At this time, you’re in a better position to negotiate the price and they are more likely to adjust so that a sale can be made.
You, however, need to be prepared for the occasion and the skill needed here is the ability to negotiate. Be persuasive but not overly coercive and don’t rub it in their faces that they need your money more than you need the car.
Before Close of Business
Surely you must have had an experience where a seller agrees to sell something to you at a lower price simply because you were the last customer of the day. It happens everywhere and dealerships are not an exemption.
Strategically visit one towards the close of business for the day and warm your way into their hearts. They already are tired and have their minds set on heading home, and may be willing to drop the price of your chosen car. But be sure you know just what you want; close of a working day is really not the time to make all sorts of inquiry and still ask for a price cut. You’d be lucky if they don’t have you thrown out.
Black Friday and Shopping Holidays
Black Friday is arguably the best time to get anything at all at give-away prices. And people go all out in droves to get a piece of the cake. Auto companies, dealerships, offer great deals too during this time, and you can save up to CA $10,000 or more on your chosen car. For most companies, Black Friday is not just a day dedicated to shopping anymore, it now extends to a week; that’s more time for you to discover the best deal for you. Also look out for promotions during festive periods, like Christmas, Easter, and the list goes on.
Days When Dealerships Record Low Sales
Now, this would require some investigation on your part to know when dealerships have slow days. Find out the days people don’t come around in numbers to make inquiries about cars, that’s when you should be there. Typically, Mondays to Wednesdays are not the favourite days of dealerships compared to weekends. So you might want to go on these days. The car dealers will have fewer prospects and this means you have an upper hand when bargaining. Deploy your negotiation skills and you should be driving out happy having got yourself a great deal.
Towards the Release of New Car Models
When new car models are released into the market, there is a conscious effort by dealerships to ‘get rid’ of older models. There is a need for space to accommodate what’s in vogue and the fastest way to do that is to sell-off the previous season’s cars. What you can do to get a good deal during this period is to follow your preferred car manufacturer closely.
Find out when a newer model of the car you intend to buy would be out and visit a dealership around that time. You may not even be the one to ask for a price drop, it will likely be offered on a platter…for obvious reasons of course.
Generally, the best time to buy a new car in a calendar year is at the end of the month, quarter, and year. It works every time. Dealers want to sell off cars at the end of the month and quarter to reach or exceed set goals, and the end of the year ties in with festive seasons – Christmas, Boxing Day, and New Year. There are always special promotions for car buyers during these periods. And there’s Black Friday too, which comes at the end of November. Pick a date wisely and avoid spending some extra dollars.