- Posted 03 Feb
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Buying a new car is a big investment, and you’ve probably been researching and test driving a ton of cars to figure out which one will best fit your needs.
So if you’ve spent all of this time researching makes and models, wouldn’t it make sense to also figure out when the best time to buy a new car might be?
Below are the best times of the year to buy a new car, so make sure you bookmark this page to refer back to when you’re looking to buy a car!
Best Times of the Year to Buy a New Car
#1: End of the Financial Year
If you want to get a great deal in a new or used car from a dealer, June is the best time of the year to buy. And not just for cars either.
You’ll see your TV screen flooded with EOFYS (End of Year Sales), which makes it one of the best times to buy a new car.
You’ll receive a lot of incentives as well, such as lower interest rates on car finance and package deals on upgrades, so if you’ve been considering a particular make and model and really want all the optional extras but can’t afford it, you might be able to if you play your cards right and shop in June.
This is also another great time of the year to snag a great deal on a new car. This is the time of the year that distributors are looking to maximise on their profits, so you’ll be able to take advantage because dealers will also be looking to clear as much of current-year stock as they possibly can, to make way for the new year stock.
There’s also the possibility that less people will be shopping for this type of purchase at this time of the year, so you’ve got less competition and more room to negotiate.
#3: January – New Year Sales
Just as Christmas is a great time of the year to buy, so is January where you can take advantage of New Year sales.
If you’re not worried about what year your new car is, then taking advantage of dealers’ need to move last year’s stock quickly is a smart way to snag yourself a great deal.
#4: Time of the Week or Month
Outside of these times of the year, there are also certain times during the week that make shopping for a new car advantageous to you, the buyer.
Saturdays and Sundays are a great time of week to go shopping and grab yourself a bargain, particularly if you’ve got your heart set on some of those extras… Dealerships are always busy over the weekend and are looking to increase their sales results, so be prepared to bargain and negotiate during this time.
Near the end of a month or a quarter are also great times to grab a bargain, as sales reps need to meet sales targets, so you’re in a great position to negotiate, particularly if they are a little behind on meeting those targets.
While there’s no guarantee that you’ll save money by following our tips above, there is definitely no harm in trying and being aware of these seasonal patterns.
If you need help buying a new car or locating car finance, call the team at Australian Credit and Finance today!