The end of the year is fast approaching with Thanksgiving having passed and the winter holidays just down the road.
As 2013 gets ready to morph into 2014, if you are in the market to buy a new car, it might just be the perfect time to do your research and pull all your pennies together.
If you are buying a new car, buying at the end of the year can be a big boon and save you some big time money. For some, it is tough to make a big purchase when they may be saving money to buy gifts for other people or for travel to see family and friends, but if you are in the market for a vehicle, it may be time to pull the trigger.
At the end of the year, car dealerships are trying to sell as many cars and trucks as they can to get old models off the lot. But of course they want to clear inventory any time they can. What makes the end of the year different? Because dealerships are often trying to meet yearly quotas, boost unit sales and revenue numbers to make the annual numbers stronger.
Salespeople often can get bonuses for meeting certain annual numbers, so they have an incentive to hook you up with a great deal. If you can wait until the final couple weeks of the year, you could see a salesperson knock off even $3,000. (Who wouldn’t mind a couple extra grand in their pocket just because they chose to shop at the right time of year? It could be like the ultimate Black Friday-esque shopping deal.)
That means there are more deals as dealers try to push every vehicle out the door as they approach the finish line that is New Year’s Day. While waiting for a sale to save 50 cents at the supermarket might not be worth it, waiting until you can get a great deal and save hundreds and sometimes thousands of dollars is something you should keep in mind.
And if you don’t need a new vehicle, you can likely get a great deal on a used car that’s only a few months old as the dealers try to ramp up for the new year and new models. For models that don’t undergo a major redesign, the small differences between this year’s and last year’s model shouldn’t matter as much as the difference in prices.