When is the best time of year to buy a new car? This question is bound to come up when thinking about upgrading your ride.

If you get into an accident, you may have no other choice but to buy a new vehicle. However, you may also come across a sale that’s too good to pass up.

Did you know there are certain times of the year when new and used car dealerships offer promotions? Here’s an overview of what you need to know!

Buying a New Car

There are many different opinions about when and where you should purchase a new car. However, most experts agree that the end of the year is a great time to go car shopping. Here are a few reasons why.

Quotas

It’s common knowledge that most sales representatives at car dealerships work on commission. This means that they have sales quotas to meet. Therefore, at the end of the year, they’re often hard-pressed to reach their annual goal and earn a bonus.

If you go to the dealership in December with the firm intention of purchasing a new vehicle, you likely won’t leave empty-handed. Chances are the sales representative will do everything they can to give you the best service and the best price for the car you want.

New Models

New models are released at the beginning of the year. Consequently, most people are interested in buying the latest release. However, if you don’t mind driving last year’s model, buying a car in December is a great way to get a good deal.

In addition, dealers need to make space to showcase the latest models. Therefore, they often try to get rid of their existing inventory as quickly as possible.

It’s also worth noting that the “end of the year” doesn’t just mean the month of December. It can also include October and November.

Mondays

Surprisingly, the first day of the week is one of the best times to buy a new car.

Monday marks the beginning of the workweek, which means that dealerships are usually less busy. Therefore, in addition to giving you their full attention, the sales representative will likely offer you a good price to start the week off right.

Buying a Used Vehicle

You don’t have to buy a brand-new car that’s never been driven. You can easily find a reasonably priced used car with low mileage or one that’s barely been driven. However, to find a used car at a good price, you must go at the right time!

At the Beginning of the Year

Unlike new cars, the best time to buy a used car is at the beginning of the year. More specifically in January, February or March. Here’s the logic behind this phenomenon.

When you buy a new car, you must find a way to get rid of the old one. You can do so by:

• Selling it back to the original dealer or to a used car dealer
• Giving it back to the dealer (in a lease situation)
• Selling it privately

Therefore, since most people buy new cars at the end of the year, their “old” cars become available at the beginning of the year.

It should also be noted that many used cars that were already on sale the previous year must be sold to make room for new ones. Therefore, it may be easier to negotiate a good price on a car that’s been in the lot for a while. 

Another reason why it’s better to shop for a used car in the first three months of the year is that dealerships receive fewer customers. After spending money during the holidays, people are less likely to make large purchases like a car.

Consequently, the sales representative will be happy to give you a deal during this slightly slower period that marks the beginning of a new sales year.

Questions to Ask

Here are some questions you should ask when shopping for a new or used car:

• What options are included?
• How long is the warranty, and what does it include?
• Can the car be serviced at any partner dealerships?
• What type of fuel is best for the vehicle?
• What’s the best model for your lifestyle?

A New Holiday Playlist

To get you on the road to buying your new car or get you in the mood for the holiday festivities, Ultramar has put together a new playlist on Spotify.

Now that you know the best time of year to buy a new car, do you want a new or used one?