SHOPSMART AUTOS – CUSTOMER INFORMATION – DECEMBER 26, 2020 Best Time of Year
Best Time of Year
DECEMBER IS HERE AND SO
are the biggest car deals of the year. For car buyers, December has the year’s highest discounts and best incentives, according to the automotive experts at Edmunds. Between dealerships hustling to achieve quotas for the end of the year, and consumers looking to find a luxury vehicle at a lower rate, December is the best month to find a good deal on a car. Like with any major purchase, preparation is important in car-buying. It’s easy to want the car of your dreams during the warm temperatures of summer and early fall, but that may be the least ideal time to buy. Instead, it’s a smarter move to utilize the earlier months of the year to do your homework and then, when the time is right between Black Friday and New Year’s Eve, find the best deal for you. Here are a few reasons why December is the best time to buy a car.
New models.
September, October, November and December are the months that manufacturers are typically trying to make room for new models on dealer lots, according to Auto Cheat Sheet, a car-buying guide and expert source on the retail car business. Especially in September, many automakers launch the upcoming year’s new models, which drop the value of the current year’s models substantially. Come December, prices will hit a low for the year. For a buyer, these factors work in your favor to save money. For car manufacturers, a lot is riding on the line to make quota. Car dealers make the most money on the newest vehicles. The longer a car remains unsold on the lot, the more buyers can expect big savings off the sticker price.
Holiday shopping.
When the holidays come around, planning your annual shopping list is on top of the to-do list, and buying a new car might be the last thought on your mind. However, during the holiday shopping season, cars continuously lower in price as dealerships monitor retailer sales in order to compete for shoppers’ dollars. Dealerships have since joined in Black Friday deals and continually lower prices into December.
Holiday bonuses.
The hard work you put in all year may come with a generous holiday bonus. This year, 63 percent of U.S. human resources professionals or hiring managers say their company plans to give employees a monetary end-of-year bonus, according to a 2017 survey by Accounting Principals. The combination of a holiday bonus and more reasonable prices on cars means December may be the best time all year to reap the benefits of a boosted income and a great deal.
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