July 31, 2017 at 2:01 PM
Most products are seasonal in one way or another, and there is always a better time to buy. For some things, it is obvious – get your central heating oil in summer when demand is low, and it will be cheaper – but for others, less so.
A motorcar is, aside from a house, the largest single purchase you are ever likely to make, so it is worth giving some serious thought as to whether you can save yourself some money by buying at a particular time. The answer is a resounding yes, so here are some tips to help you decide when to go car shopping.
Different types of car are popular at different times of the year. An obvious example is the convertible – they sell like hot cakes around late spring and early summer, while 4x4s become more popular to buy in the autumn months, ready for the winter ahead. Buy out of season and you will bag a bargain.
Watch out for new models
If a manufacturer announces the imminent launch of a new model, the dealers will be keen to shift the old ones, while many buyers will be holding fire on their purchase. This means there are some great deals to be had on the outgoing design.
Be aware of the financial calendar
Car dealers have targets to meet just like the rest of us. Towards the end of the week, quarter or financial year, they are likely to be pushing to meet their sales targets, so there is a good chance of striking a great deal. Also, bear in mind that Friday tends to be the quietest day of the week for vehicle sales.
Treat yourself over Christmas
Most people tend to have very little in the way of money to spare in the run up to Christmas and then spend January easing their finances into recovery. This means that the period from November to January is typically very quiet in the car showrooms. Why not take the decision to treat yourself to a new car as an early Christmas present and set the funds to one side now?
Sometimes, dealerships have vehicles that are brand new but have already been registered for one reason or another. This will mean the warranty has already started to run, but otherwise, it is a brand new car at a massive discount – sometimes you can pick up the car at 70 per cent of the list price!
Another variation on the above theme is to buy an ex-demo. OK, so the car will have a few hundred miles on the clock, but you will know that they have all been accumulated by careful dealership staff or supervised potential buyers having a test drive. Again, this can save you an absolute fortune on the list price.
The smartest buyers can use the above tips in combination. Find an ex-demo for an outgoing model on a Friday at the end of the financial year, and you might just bag the deal of the century!