Best Time to Buy a Car
Knowing the best time to buy a car depends on the time of year, the season as well as the supply and demand of the vehicle. If you are looking to purchase an SUV avoid times where the demand is greater in the winter. Applying this methodology, choose Autumn or Winter when buying a “summer” car like a convertible. If choosing a dealership, the best time to buy would be during periods where the salesman is approaching the end of the week, month or quarter as bonuses are often structured in this way.
The best day to buy a car
- Weekdays are the best time during the week to buy a car at a dealership. At the latest, Friday would be the last day to avoid the weekend rush.
- The last two days of the month would also be a good time as the dealership looks to close that particular month’s sales strong.
The best months to buy a car
- March and September are two important months within the UK as these are when the new car registrations are released. During this time. you can choose to either:
- Buy a previous registration year if looking for a cheaper deal or
- Buy the latest registration for a better residual resale value
- October to December would be the best time to buy a car as this period is usually slow for car sales after the September rush.
- The month preceding the end of a financial quarter would be the best time when negotiating with dealerships. During this period they would look to close more sales for their quarterly bonuses.
The best time to buy a new car
As discussed previously, March or September would be ideal during registration for new plates.
However, if looking to get the cheapest price you can follow these recommendations:
- Buy the previous model when a new or face-lift model is just launched. Manufacturers usually replace a model after every 7 years and have face-lift model in between. It would be wise to keep note of how old your desired make is.
- Be aware of lead times if buying from the factory as this process could take up to 8 months. So ensure you are well aware of when you will receive the car for registration.
- Wait some time after the launch of a new model but ensure you purchase within first year of release to guarantee the latest tech, features and most fuel efficient releases.
The best time to buy a used car
The best time to buy a used car, would be dependant on the dealership’s seasonality as well as these times below:
- February or August are ideal as these are the months prior to new registrations. Dealerships would be in a hurry to clear old stock in anticipation of the latest registered vehicles.
- Christmas is a period where car sales are slow as people tend to focus spending their money on gifts so you might be able to grab a great deal.
- Last two days of the month
- The last month of a quarter