Are you dreaming of a new car for Christmas? You’re not alone. In 2012, a survey of 5,000 consumers conducted by the Alliance of Automobile Manufacturers found that two out of three people wanted a new car for Christmas that year. Though Santa may pull through, it is more likely that December 25th will come and go without a new car under the tree; but that doesn’t mean a set of new wheels has to be out of reach. In fact, December just might be the time to venture out to the car lot and see what kind of deals you can find. Continue reading to find out why the most wonderful time of year may also be one of the best times to shop for a new ride.
The Season for Competing
Marketing 101 says you should always advertise according to the seasonal demand for your product. Since the holidays are a popular time for new car purchases, many of them amp up their marketing in an effort to compete for the attention of buyers. With many different ‘sales’ going on, it may be tempting to pay the discounted price assuming it is the best available deal. As enticing as new car incentives like zero percent APR or cash rebates may be, paying the sale price could still leave money on the table. Go in prepared to negotiate, and you just might save thousands.
End of Year Discounts
Each year, vehicle manufacturers begin shipping new models while the previous year models are still sitting in dealership inventory. Though different models come out at different times, it is often the fall season when the newest year models start hitting lots. Like anyone competing for business, there is always an urgency to get rid of the old to make room for the new. In order to free up cash and space for new model purchases, many dealerships are eager to make deals – especially on those last few previous year model cars that are hanging around the lot.
You can find out which vehicles your local dealership has in stock by visiting their website and viewing their inventory. If there are any remaining previous year models, chances are they’ll be significantly more affordable or at least have several incentives attached to them compared to their newer counterparts.
Should Santa Make a Late Stop?
The end of the month is always a good time to shop for a car, regardless of which month it is. Dealerships have quotas they need to meet, and they are willing to do whatever they can to get the incentives offered to them for meeting their goals. If you’re planning a December purchase, consider venturing into the lot a few days after Christmas instead of before. Being the end of the calendar year and the end of the month, you might just be the buyer that helps put a dealership over the top.
If you do find a great deal on a new car, be prepared to shop around for more than just a great price. Before you drive off the lot, you’ll need insurance coverage for your vehicle. Fortunately, affordable car insurance can be found year-round simply by shopping and comparing rates from an independent agent such as Couri Insurance Agency.