It’s nearly that time of year again. No, not the Holiday Season. It is the right time of year to buy a car! You see, the time of year has a big effect on which purchases you can and should be making. Did you know that houses are more expensive in the summer, when demand is higher due to school vacations and favorable moving weather? Just the same, televisions tend to be cheaper before and around the Super Bowl, since fans are prepping for the best big game experience. Not surprisingly, there is a best time of the year to buy a car too. That time is now!
When you buy a new or used Nissan in Wallingford late in the calendar year, you’re reaping the most benefits possible. This is why:
- You have the upper hand
Experts already recommend that buyers purchase cars on the last day of a financial quarter. When you buy at the end of the year, you can take advantage of the fact that dealerships often use that period of time to focus on sales milestones. Dealerships also have specific annual sales goals to meet, meaning sellers are probably more willing to wheel and deal towards the end of the year. In fact, according to an analysis by TrueCar, buyers who purchased a car on New Year’s Eve saved an average of 8.3% off the MSRP.
- The dealership wants room
By the end of the year, dealerships are likely trying to sell off existing inventory to make room for the brand new cars they’d rather have on the lot instead. This means older models are priced to move!
- You’ll save money on car purchases
When you combine #1 and #2 together, you’re looking at the perfect situation for saving money! There’s more, though, because dealerships often announce Holiday discounts and lower car prices in November and December. Experts have determined that it’s cheaper to buy a car in the final months of the year due to all of these factors.
- There’s less competition for buying cars
In many parts of the country, the end of the calendar year means the arrival of snowstorms and cold temperatures. This makes for less-than-ideal weather in which to test-drive a car! As well, people tend to be much busier during the holiday season with shopping, cooking, parties, and planning for vacation or family visits. That means both their disposable income and time is devoted to other things. The result is fewer people are in the market looking for cars, so the dealership is more willing to work with you financially.
- It could help with your taxes
Additionally, for people buying a vehicle for their small business, certain amounts can be written off on taxes as well. This could lead to cost savings down the line. Be sure to sign on the official line before midnight on December 31st and you can write it off for this year!
There are many reasons to buy that new or used car you’ve had your eye on. Don’t wait any longer!