When is the best time to buy a car?

So you’re ready to get a brand new car. You’ve searched the internet, took a look at our car guide, and maybe even read up on some in-depth reviews. You have the cash needed or maybe you’ve got the pre-approval of a bank that will help you make your dream purchase a reality. Either way, you’re going to want to maximize your money and get the best deal possible, right?

Take it from us; patience can be a very powerful ally in car purchasing. Not rushing to go out and drop the money on the car of your choosing can help you get an even better offer or deal. We’re here to give you an idea on how to choose the best time to buy your brand new car. There’s no exact science, per se, but maximize your opportunities for savings and better choices if you keep an eye out for specific things.

Look for end-of-the-month or weekly deals

If you keep your eyes peeled, you can find online listings and promo pages pertaining to your favorite makes and models of cars. A dealership near your area might be doing a very attractive low or no downpayment scheme on the car your eyeing. Maybe even some better financing options such as low interest rates or extended terms. A cash discount on the spot might even be extremely tempting. Sure, some offers might require a bit of travelling to get to, but saving a hundred thousand pesos is worth that extra effort, right? Before pulling the trigger on that car, scour around and make sure you’re getting the best deal possible at this point in time. Remember that the end of the month also means that dealers are looking to hit quotas, so closing that sale is a priority for them.

Wait for the end of the year

As most dealerships start to close their books at the end of the year, it’s almost guaranteed that you’ll find some sort of discount on their fleet of cars. Closing the year with good sales is every business’ goal, and December also tends to be the time when dealerships have the largest inventories, with outgoing models sitting in lots. Best part is, since they want to get rid of prior model-year cars that take up space, you’ll usually be offered incentives and benefits by sales people if you do decide to pick one up. While the offers and advantages can vary greatly among different dealers and manufacturers, you may just find your winning ticket during this time.

Look out for a redesign or the end of the lifecycle of a car

If you’re willing to sacrifice on getting the latest model with all the goodies, there’s an extremely high chance that you’ll be getting a huge discount or excellent terms on a car that’s about to be discontinued or upgraded for the following year. Hear news of a new model or halt in production of your desired vehicle very soon? You’ll find that dealers will be willing to incentivize purchases of a car that will soon be phased out or replaced very soon. Those who are willing to settle for these cars can expect huge cash discounts up front and even more attractive financing options just to get them off showroom floors and into the hands of customers, making space for the new model ready to take its place.

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