If you’re shopping for a vehicle, you may wonder exactly when is the best time to buy a car. It’s a tough call, especially if you’re interested in upgrading to your next luxury vehicle. There actually are good and bad times to buy a vehicle, though, and understanding the best time to buy a car is key before you make a purchase.
Why Does Timing Matter?
Wondering why it matters when you buy a car? Entire brands and dealerships alike offer deals that benefit customers when they shop at certain times of the year. Incentives are developed around certain times of the year. Sometimes you’ll find brands offering bonuses like 0% APR or no payments for a few months to help push customers to buy. Being aware of those incentives means an incredible bonus when you get ready to make a purchase.
Time of the year also matters because of dealer inventory. Many dealers have to make room for upcoming models as they approach the end of the year, and once the year turns over, they really want to get rid of those previous year models, as they need physical space for new models.
It’s not just the time of the year, though. Instead, the time of the month matters too. Dealerships often have quotas they want to meet on a month by month basis, making that final day of the month incredibly important. Even the day of the week matters. A recent study found that Monday proves to typically be the best day of the week to shop because it offers great savings to customers who didn’t quite make it in over the weekend to reap the weekend deals.
This Year Has Changed Everything
While there have always been conventional “good times” to buy a car, this year has changed absolutely everything thanks to the pandemic. Auto sales fell incredibly during the shutdowns, and consumer confidence is very low. Fortunately, low interest and zero-percent APR deals, though, remain plentiful, so brands and dealerships alike are doing what they can to entice customers like you to purchase now. Special offers are likely to continue as the pandemic does so that individuals who are ready to purchase should do so absolutely immediately. Moreover, dealerships are offering added ways to shop so that pandemic precautions can still be taken while shopping for the luxury car of your choice.
The best time to buy your next luxury vehicle is right now. Don’t miss this opportunity.