When is The Best Time to Purchase a Car?

Many people are wondering about the best time to purchase a brand new car. This is actually a simple concept that we can understand. However, there are many answers from experts that may somewhat contradict with one another. This could happen because car owners have their own special requirements, when it comes to buying a new car. The best time to purchase a car for someone, may not be the best for another. As an example, many people say that a good time to purchase new car is during the fall. This is the time when manufacturers and dealers tend to clear older models to make room for the upcoming new models. For this reason, we could see more incentives and deals to purchase brand new car during this period.

We should be able to find many big incentives for purchasing a brand new car during specific times of the year. If the dealer will obtain new models, they will need to sell the older models, often at lower prices. So, if the car has a big rebate, it is possible for us to save around $1000. We should know that car depreciates in value, even the unsold ones. Each year, manufacturers often release new variant of the year for specific car model that introduces slight improvements and a few additional features. This makes last year’s model to become cheaper. If we plan to purchase a car model, we should know when it will depreciate. Often, this involves waiting for the whole year to purchase a car we have wanted to buy.

If it is October, we may need to observe the prices to make sure that it will go down further. We should also read news about when the new variant of the model will be released. We could call the dealer each month to ask about the latest price of specific car model. Often, the new variant is slightly more expensive than the previous version when it’s released last year. It means that the price reduction of the last year’s model may not be as large as we want. Even so, it is a much better thing than purchasing this year’s model. It is also a good idea to find out about what new features that will be introduced by the new car model. So, if the added feature is not too significant, there’s nothing wrong about getting an older model.

Perhaps, the most correct answer about when we should purchase a car, is when we are completely ready. It means that we have the financial capability to purchase the car properly. Even if we get the best car deal of the year, it could be useless if we are not really ready yet. In this case, we should become a smart customer and consider our own capability. We need to perform proper research to make sure that we are perfectly capable of purchasing the car. We shouldn’t rely too much on car loans, especially if we are not able to pay the monthly instalment. This is a bad financial decision.