Unlike most products you buy, the price of vehicles fluctuates often. If you are looking to save the most money on a new car, when you buy is an important factor. Car buying timing is not an exact science, however; while putting some thought into it is beneficial, there is no reason to obsess over it.
Here at Journey Chrysler Dodge Jeep Ram, we are proud to help the greater Coquitlam area get the best deals on new and pre-owned vehicles. No matter when you are looking to buy, we offer specials and competitive prices.
Whether you are casually looking into vehicles with a future intent to buy or you desperately need a car now, you can adjust the timing of your purchase to save money. From the right time of year down to the time of day, here is a guide to knowing the best time to buy.
Time of the Year
Certain months of the year tend to have lower prices than other months. One big influence on this is demand. When more people want to buy, prices increase.
May and June are popular months to buy vehicles because people are getting ready for summer adventures. During these months, prices will be higher. If you can wait, avoid buying during this time frame.
The best time of year to buy is in the fall. October, November, and December often have the lowest prices of the year.
As dealerships are preparing to bring new models into their inventory, they need to get rid of the current year’s models. This means the sticker price goes down.
Waiting until the fall to buy can have a downside, though. The inventory has been picked over, so you may not have as many options. If you are flexible on the colour, trim, and features your vehicle has, this is the best time to get the lowest price.
Time of the Month
Sales agents have a monthly quota they need to meet. At the beginning of the month, there is less pressure so they are less concerned about customers walking away.
As the month comes to an end, the pressure to meet the quota increases. You are more likely to get a better deal the later into the month you wait.
During those busy summer months, however, since sales are higher, sales agents may meet their quota earlier on. If you must shop during the peak time of year, try to do so around the second or third week of the month when quotas have not yet been met.
Time of the Week
Since many people work Monday to Friday, the weekends are when they go car shopping. If you can go during the week instead, you will get more focus from the sales agent, which can translate into more savings.
Tuesdays and Wednesdays tend to be great days to go into the dealership. They are less busy, so more time can be allotted to you. Sales agents will be able to help you find a deal.
Time of the Day
Getting to the dealership as close to their opening time as possible will yield you the best results. Mornings can be less busy since other customers are working or maybe slow to get started.
Your sales agent will be more focused on work at the beginning of the day. If you wait until the afternoon, focus and energy can be lost.
If you get to the dealership and the sales agent seems to be in a bad mood, come back another time. A happy and friendly sales agent is worth waiting for.
During the year, even during the summer months, dealerships will have holiday sales. Buying during a sale will get you a lower price than another time in the month.
Not all sales have equal discounts, though. Summer sales can have higher prices than fall sales. Holidays with the best savings are:
Fourth of July
New Year’s Eve
New Year’s Day
The more time you can put into researching prices and waiting for the right month and sale, the more money you can save. However, sometimes life does not let us have the flexibility to choose when we purchase a car.
If you are unable to wait until that perfect time, you can still optimize the experience. Be sure to work with a sales agent who puts you first. If you are not getting the customer service you need, ask to speak to someone else.
At Journey Chrysler Dodge Jeep Ram, we strive to always give you the best car-buying experience. Our team is friendly and knowledgeable no matter when you visit. Take a look online at our new vehicle specials, and then let us know how we can help you.