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When is the best time to buy a new car?

Posted on: June 18, 2015 by Platinum Direct

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Buying a new car? Is there no time like the present, or should you wait until the perfect time to get the best deal?

Buying a new car always feels like an achievement. There’s nothing better than celebrating your promotion, treating yourself to an upgrade or even just replacing your old rust-bucket with a shiny, new model with that signature new car smell.

But as cars are such a big part of our working and family life, and as a long-term investment its always best to sit down and shop around to find the perfect car for your needs. While people take often take ages carefully reading reviews to find the perfect car, it’s rare that anyone considers when the best time to give the dealership a call.

First, use our guide to dealing with potential buyers to help sell your car.

But while you are waiting for the buyers to flood in, check out our tips on when you’ll get the best deal on your new car.

End of Financial Year

Now this is perfect timing – we are just a few weeks away from the end of the financial year. If you can get your act together quickly now is a great time to buy a new car.

It’s no secret that the end of the financial year is a great time to snap up bargains, but did you know it works with cars as well as clothes?

Dealerships want to clear out their old models and get one last boost in sales figures. Take a look around and you’ll find new cars with attractive discounts, great finance deals and free servicing.

Unfortunately, this is hardly a big industry secret, so you’ll have a lot of competition with others looking to pounce on the best deals.

Christmas time and the End of the Calender Year

I know you’ll have enough on your plate with buying gifts, but if you have money left over Christmas is a great time to get a good deal. Luckily, there are plenty of great finance deals that will make sure you don’t take too much of an immediate hit (wink wink).

If it seems like an unusual time to buy a car that’s because it is. But it’s for exactly that reason that you’ll get great benefits – most people are out buying toy cars rather than their big brothers, and dealerships will be more willing to negotiate. This is the peak spending time in Australia, and businesses in all industry sectors viciously compete for your buck. Car dealerships are no exception.

Dealership’s also need to clear out old models in time for the new year’s stock. Car models, like all forms of technology, go out of date as soon as the shiny new replacement model comes in. Just because they are “obsolete” doesn’t mean a great car is not worth buying, and you’ll get better deals on last year’s models.

New Model Run-out

On a similar note, make sure you do your research and find out when the new models for that car you have your eye on are due to come out. In a similar way to the end of the calender year, dealerships will be looking to get rid of the old models to make room for the new.

There will also be less buying competition as many buyers will be waiting for the release of the new model. Generally, this lack of competition will drive the prices down and make the dealers more eager to please you to boost their sales figures. This window of opportunity lasts for a few months before and after the launch of the new model.

The End of the Month/End of the Day

If you just can’t wait till the Christmas to buy a new car, then aim for the end of the month. The salespeople at dealerships will have monthly sales targets they have to hit to keep their heads out of hot water. If you are lucky enough to find a less lucky salesperson who wants to hit their target, they will be more willing to make the sale than try and hold out for the extra commission.

Going in soon before closing is also a great tactic as it forces the dealer’s hand. They will want to seal the deal before you can go home and think it over, potentially changing your mind.

After a Hail Storm

We’ve all seen the damage hail can do – and dealership’s display vehicles will often suffer. We cannot recommend buying hail damaged cars, as the damage can often be fundamental.

However, many people who don’t mind taking a risk will go to hail damage auctions to grab massively discounted ex-display vehicles. Alternatively, you could sneak in while everyone’s out to the quiet dealerships who will be more eager to make the sale.

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