Cars are expensive, so there’s never any harm in saving a small percentage. Doing so can cut thousands of dollars off the vehicle’s sale price. While many opportunities to save come with negotiating, you can spend less on a car just by picking the right time of the year. January just happens to be one of those times, and here’s why:
Last Year’s Models Need to Be Sold
Model years traditionally go from fall to fall, but dealers must reach their sales goals for the calendar year (they don’t always hit the mark). You may find a salesperson who’s working to make up for some low sales numbers. But a dealership rep’s sales quota isn’t the only factor. The dealership may also need to make room for new models. The easiest way to do this is to discount outgoing models, especially those that have been unsold for a full year after their debut.
Also, a new car’s price is usually at or near the Manufacturer Suggested Retail Price, or MSRP, but typically declines with time.
More Used Cars Are Available
Many customers turn in their leases to get the newest models with the latest technologies. After all, there are lots of car deals at the end of the year for lessees to take advantage of. This can afford the opportunity to get a late model lease return at a great price. Vehicles that have been traded in become part of dealerships’ overstock. Dealers then offer deeper discounts to get rid of the excess inventory—and they can, thanks to strong December sales.
The Holiday Season Is Usually Slow
People have spent their money in December and start paying the bills in January. A big purchase is often not on top of their minds. But car dealerships are still intent on making money, so a salesperson eager to close a deal might be open to negotiating a lower price on a car. You might also find deals on expensive vehicles. The same effect often extends into February and early March. January also happens to be a good month to invest in major appliances.
Start the New Year Off Strong
Getting a new car is always exciting. With the holiday season over, your purchase is something to perk up about, especially if you get a great deal. Be ready to negotiate with the dealership and leverage any financing options that work with your budget. You might get a great APR and a monthly payment plan that makes it very convenient to pay off the vehicle, especially if you have good credit (many car sellers use credit scores to approve financing).
At Hawthorne Auto Square, we can approve your application for financing whether you have bad credit, no credit, or a bankruptcy or repossession in your past. Other options include taking six months to build your down payment while we hold your vehicle. Our approval process is simple, while you can get a six-month comprehensive warranty on popular brands such as Lexus, BMW, and Mercedes-Benz as well as Audi, Dodge, Ford, Buick, Toyota, and many more. We also offer complete service and maintenance plans.
To learn more, browse our inventory online or apply to get pre-approved, or visit our dealership in Hawthorne, CA, at 11646 Prairie Avenue. You can also reach our sales department at 866-707-7664 to speak with our knowledgeable staff, who can help you choose a model, understand our financing, and negotiate an affordable price.