Whether it’s a present or a treat to ourselves, people tend to be more prone to buy cars during the holiday. However, there is a common belief that holidays might not be the best time to buy since there will be more demand than offer.
Is this true? Are there strategies that buyers can adopt to get a good deal? Let’s find out more!
Christmas Eve Averages $2,816 in Savings
Shoppers that wait and buy on Christmas Eve are likely to enjoy an average saving of 8.12% off MSRP. Given that the month is about to end and that dealerships have got to meet sales quota, they are more likely to accept a lower deal rather than completely lose a sale. Pretty sweet, isn’t it?
Be Ready to Buy a Car
You won’t be the only one shopping during the holiday season and as a result of that the inventory is going to be limited. Should you really like a car, you need to act quickly as it might be gone by the next day.
However, don’t rush into a bad deal. Make sure to negotiate the lowest price possible and, if necessary, walk out of a deal that doesn’t meet your financial goals. Another car will eventually come along!
Do Your Market Research
How much did other cars similar to the one you like sell for? The answer to this simple question will save you a lot of money once it comes to negotiating. Basically, you can ask your dealer why you would pay more when the real market value is lower.
You are going to be able to gain negotiation leverage. Remember, car salesman always want to close a deal and they will be willing to work with you on the conditions of a sale.
Consider Buying a Previous Year Model
Most incentives, savings and promotions will most likely be on models from the previous year. The reason is simple: dealerships want to make room for what is going to be released the year after.
You will have a bigger buying power if you consider buying an older model and you are likely to find little to no difference between the two cars.
November and December Are Good Times to Buy a Pre-Owned Vehicle
October and November are the high season for car purchases. This means a lot of trade–offs will happen and therefore a lot of pre-owned vehicles will hit the market. You will therefore have a bigger inventory to work with and most likely better deals.