Car Buying Tips: When is the Best Time to Buy a New Car?

Oct. 19, 2015 - PRLog -- When is the Best Time to Buy a New Car?

It is an age-old question. I have worked in the finance industry for over 50 years and I cannot count the number of times I am still asked the question.

You don't always have the luxury of being able to know exactly the time of the year when you want to buy a new car, particularly if your car is:

>> Stolen; or

>> A total write off.

However, if you can wait, here is a list of some useful tips and information, which you should consider and which can help you to determine - When is the Best Time to Buy a New Car?

1. When should I look at "End of Year" Models?

It is generally considered that the period of time between "Christmas" and "New Year" is a good time to buy a new car. It is because it is the period when manufacturers are offering dealerships large rebates to clear their left-over end of year model stocks.

You should also find many dealerships being pressured to sell during this period. It will enable you to negotiate the best possible new car deal.

2. When should I look at the "Most Recent" Models?

If you are considering buying the most recent new car, "January" and "February" are generally considered to be the best months, as it is the period when new car sales are usually slow. You may also be able to take advantage of any end of year incentives still in place with dealerships.

3. What is the Best "Time of the Month" to Buy a New Car?

It is often considered to be beneficial for new car buyers to start negotiating with dealerships during the last 4 or 5 business days of the month. You may find that you don't always get the price you want right away. But, as the last day of the month approaches, it is not uncommon for dealerships to call you back and agree to your new car deal. So, long as you agree to purchase your new car on the day they called you.

4. What is the Best "Time to Visit" your Dealership?

To enable you to receive the best possible personal treatment, you should consider visiting your chosen dealership:

Early in the week - It is generally considered to be the part of the week where most dealerships do not experience much in the way of foot traffic.

Before 5.00 PM - It is because many other new car shoppers start to show up at the dealerships after 5.00 PM, which is after they finish work.

Now that you have read this article, you should have a basic understanding of what is generally considered to be the "Best Time to Buy a New Car".

Seek Expert and Professional Advice

So, before you start looking around for a new car, and if you need a car loan, you should take the time to calculate:

How much you are able to borrow; and

What your monthly repayments will be.

You can use a borrowing power calculator ( http://www.singhfinance.com.au/loan_calculator ) to help you calculate your borrowing power and your repayments. You should also consider speaking directly with your lender/credit provider or you can seek help from a professionally qualified finance broker like Singh Finance ( http://www.singhfinance.com.au ). As a finance broker, will save you lots of valuable time running around on your own and can help you to determine, which car loan best meets your needs and circumstances.