The end of the year is the best time to buy a new vehicle. While December is the busiest shopping season, that’s different for dealerships. There’s less foot traffic. Dealerships offer incentives, sales, and offers to get people to buy. Here are seven great reasons why it’s a good idea to buy a car before the year ends.
1. Save More Money
You’ll save more money on a new car. The plethora of discounts and savings make car prices cheaper in November and December. Car experts determined that the end of the year is when it’s more affordable to buy a new car. Sales fall in the final quarter of the year and dealerships tend to have a lot of inventory.
2. Less Competition for Buyers
There’s also less competition among buyers. December is the time when most people are off the roads except when it comes to the mall and shopping centers. Generally, the weather is worse, which makes for undesirable conditions to test-drive a new car.
People are also busy planning for the holiday season. They’re either spending most of their time at the mall buying presents or hosting parties at home. Fewer people are looking for a new car at the end of the year, which gives you an upper hand. This also means that you’ll have more options to choose from.
3. Bonuses and Promos
The end of the year marks bonus time. Most dealerships give their staff incentives like bonuses based on how many cars they sell at the end of the year. This means they’ll be more motivated to get you a good deal for a new car. They’re also more likely to agree to more favorable terms before you sign the dotted line.
4. Excess Inventory
Most new models come out in October. Most of these brand-new vehicles are sitting there, waiting to be bought. This leads to a bloat in inventory. The sales staff have to worry about selling the inventory of car models they have leftover from the previous year. You’ll get a deal on a unique model that is still relatively new.
5. Discontinued Models
Speaking of which, dealerships are also getting rid of discontinued models. They’ll push them to the forefront and reduce the asking price. Some consumers wonder if there are issues with the discontinued vehicles. The end of the year is also the perfect time to buy discontinued sedans, SUVs, and trucks.
6. More Trade-Ins
There are more incentives and trade-ins available. This means you’ll have more selection of affordably-priced vehicles. Online sites can help you get an idea of your car’s trade-in value before you head to the dealership.
7. The Tax Man
Dealerships don’t want to go up against the tax man. Dealers have to pay an inventory tax in most states. This can be costly for the smaller dealers. Because of this, their sales staff feel more pressure to sell before the clock turns midnight on New Year’s Eve.
The end of the year can be a very busy time so it’s easy to put off big responsibilities like buying a new vehicle, but the benefits of buying a new vehicle at the end of the year make it worth your while.
