07 Aug When Is the Best Time to Buy a Car?
If you’ve been thinking of buying a new car, you’re in luck! Experts agree that August may just be the best time of year to bring home that new vehicle. Before you head off to the dealership, give us a call at B&B Insurance in Lake Worth, FL for car insurance quotes on your favorite models.
The TrueCar Blog reports that, “Typically, because of seasonality and model-year changeovers, the end of summer is the best time to buy a new car because dealers are trying to clear out their aging inventory to make room for the next model year. With such a large volume of vehicles crossing showroom floors, dealers can offer a great deal of price flexibility, making August the best time to get a great deal.”
To make sure you’re getting a good deal, be sure to do your homework first. There are a variety of online tools that can help you. In addition to doing research on the price you can expect to pay for your new car, you’ll want to look into things like the trade-in value of your current vehicle, the maintenance costs on the make and models you’re considering and, of course, the safety ratings.
Organizations like the Insurance Institute for Highway Safety and the National Highway Safety Administration conduct safety tests on cars, SUVs and trucks and provides consumers with safety ratings based on a number of variables including assistive technology and the vehicle’s ability to withstand impact.
If you’re looking for a family car, obviously, safety is going to be at the top of your list of considerations when choosing a new car. But even if you won’t be driving little ones to school or softball practice, you’ll want to consider the safety ratings because they can have an impact on your premiums for car insurance in Lake Worth, FL or any of the surrounding communities we serve.
Don’t worry if you’ve been thinking about a new car but aren’t quite ready to buy. August isn’t the only time of year when you can get a good deal.
The 8 Best Times to Buy a Car, according to U.S. News & World Report, in no particular order are:
- Before you need one: “No matter what season of the year it is, the best times to buy a car are before your current vehicle leaves you stranded and when you are prepared to buy a new one,” the magazine reports.
- October: “In October, dealers and manufacturers are starting to aggressively deal to move the last of the previous year’s vehicles off the lots to make room for next year’s models,” they say.
- Mondays: “On Mondays (or other weekdays, to a lesser extent), the salesperson and customers will have more time to negotiate the best deal. A side benefit is that most lenders will be open for business on a weekday, so you can arrange and finalize your auto loan before you leave the car dealer.
- November: “Deals tend to ramp up even more in November as the end of the sales year is in dealer’s sights and the holiday season kicks off with Black Friday deals.”
- December: “As the holidays approach, dealers and manufacturers have one thing in mind: their annual sales goals. Look for deals that improve during the month, with your best negotiation leverage between Christmas and year-end,” U.S. News & World Report says.
- New Year’s Eve and Day: “The end of the year can be a busy time at dealerships, because New Year’s Eve and New Year’s day offer some of the best deals of the year.”
- And the experts at U.S. News & World Report say, if you can’t time your car shopping to one of the prime buying periods you can try to shop when dealers are offering incentives. “Try to buy when manufacturers have financing deals, cash rebate offers, or lease incentives available on the vehicle that you are considering – or its competition,” they advise. “Even if your favorite model doesn’t have incentives, you can use the fact that competitors are offering deals to negotiate a better price on the car you want.”
Before you drive your new baby off the lot, you’ll need proof of that you have auto insurance and Lake Worth, Florida based B&B Insurance will help you get the policy that’s right for you.