Planning on buying a new car? There are many important aspects to consider when making a financial decision this big but one of the most overlooked aspects is the time of year that you make the purchase. This could make a huge difference to the amount that you end up paying so it is certainly worth timing your purchase especially if you are working with a tight budget.
One factor to keep in mind is that car salespeople usually have quarterly targets that they have to make – this means that they may be more likely to make a good deal if you visit towards the end of the quarter when they are trying to hit their targets.
You will usually find that dealerships will run promotions throughout the year but particularly during the quieter periods. It is worth keeping an eye out for deals especially from reputable places like Peter Vardy as this can be a great way to get a good deal.
New Number Plates
If you are planning on buying new then you should keep in mind that new number plates are introduced in March and September which is usually when sales peak. This means that it is a smart idea to shop in the much quieter months of February and September – the only downside is that you will not get a new plate and an older plate will affect the resale value.
Seasonality can also affect the price so this is another consideration. The best examples of this are convertibles and 4x4s – convertibles are in-demand during the summer months so you are better off shopping during the winter months while the reverse is true for 4x4s.
Christmas and January are also good months for purchasing a car because the industry tends to slow down around these periods. This is because people are paying attention to Christmas and spending money on the holidays and then not making large financial purchases in January.
It is not just particular months or seasons that you should consider either as even the time of the week could make a big difference. Unsurprisingly, showrooms are at their busiest on weekends so visiting during a weekday could be beneficial and allow you to get the best service and allow you the time to negotiate. Friday is probably the best day to visit because a dealer may be trying to meet weekly targets but the dealership will still be quiet.
It is always important to keep the above in mind when shopping for a new or used car and it could help you to make savings.