Ramit Sethi. Last week, I gave you the exact systems to help you negotiate lower car insurance rates.
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So what is the best time of year to buy a car? The answer is surprisingly simple as long as you understand car salespeople. To understand why December is the absolute best time to buy a car, you need to first understand the process and mentality of the humble car salesmen. Like any other salespeople, they have quotas. A LOT of quotas. They often come in the shape of monthly, quarterly, and yearly goals for the number of cars they have to hit. This means that your car purchase could determine the difference between their dealership hitting their sales goal and the salesperson receiving a nice annual bonus or…well, not doing those things.
According to TrueCar , you can actually end up saving up to 8. This is because this is the last day a dealer has in order to make both their quarterly AND yearly goals.
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As such, they have a fat bonus on the line so they want to get the cars out the door as soon as possible. Imagine what you could earn if you compounded it with great negotiation tactics. Bonus: Want more advice on how to improve your finances? Check out my Ultimate Guide to Personal Finance.
The Best New Car Deals: June 12222
Sometimes, you just need the car sooner rather than later. If this is the case, you can still get a great deal by buying on the last day of another quota. The next best thing to the end of the year is the end of the quarter. In fact, Sunday is one of the worst days for savings more on the best day of the week below. While those huge blowout sale days might seem more like slick advertising than anything else, they actually offer solid savings if you choose to buy then.
According to Autotrader. Then, of course, go to the BBQ after in your new ride. Most people do their car shopping on the weekend. Not many think about going to a car dealership in the middle of a Monday ready to negotiate. On average, people save up to.
January's Best New Car Deals in Canada
Source: TrueCar. If the stars align for the last day of the month to fall on a Monday, you can get even more leverage. In , September 30th the end of Q3 is a Monday! If you want to maximize your savings even more, there are a number of things that you should do and a whole lot you should avoid when it comes to purchasing a car. Many people — especially you younger folks reading this — are going to want to prioritize the way a car looks over anything else.
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Instead, you should be focusing on getting a good car that you will be able to drive for a while preferably around 10 years. Cars are long-term investments, people!! And like a pair of shoes, a car only gets worse and less valuable over time. A lot of car dealerships and automakers have fantastic programs for first-time car buyers fresh out of college. These incentives often come in the form of great rebates or special financing for new grads with good credit. Over the long term, a new car might actually end up saving you money if you:.
Other expenses will come up — maybe car related, maybe not. Though heading to the dealership during the best time of year to buy a car is a great way to save money, you can make sure you have even more money to get the car of your dreams by implementing a Conscious Spending Plan. The typical way people look at saving money for a big purchase like a car typically goes like this:.
I can feel your eye-rolling judgment through the computer screen now. We recommend shopping around to find a dealer with inventory eligible for the maximum amount.
We think this may be one of the better times of the year to buy. What's Hot: Last month, Kia raised discounts yet again on the Optima. You won't see anywhere near that amount on a Toyota Camry. What's Not: This is a regional offer available in California and Utah. However, we're seeing similar deals in other parts of the country too. Weigh your options carefully before choosing one deal over the other.
That marks the best deal we've seen to date, nearly matching the maximum we saw on the Sienna late last year. What's Not: Offers will vary depending on where you live.
Prefer to lease? Alex Bernstein , Senior Pricing Analyst.
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Saved Vehicles 0 Saved Searches 0. Cars Direct. Home Deals Articles. Featured Stories. Best New Car Deals: June By Alex Bernstein Alex Bernstein.