Buying a new car is a big decision and you should take your time and do plenty of research before choosing what to purchase. Of course, one of the biggest factors that will influence your decision is the purchase price. While many people think the price of a car is fairly standard, timing of purchase can greatly affect the final price.
The best season
Typically, you can receive better pricing and incentives if you buy a vehicle in the fall. This is due to the fact that the new car models come out at this time and dealerships typically change from older to newer vehicles. As dealerships require space on the lot for the newer vehicles, a number of incentives become available on the previous model vehicle in order to move inventory.
The best days of the month
The time of year is not the only aspect you should consider. It is also important to note that you may receive a better deal on certain days of the month. The final two days in the month are often a better time to shop as car dealers are trying to meet a monthly quota, which gives you a bargaining advantage. It is also important to shop around, as different dealerships are able to offer different pricing and incentives.
The best time of day
Additionally, you will have the best chance at negotiating the final price in the late morning as it is typically the slowest time of day for sales, or just before closing time as car salesmen will be looking to finalize deals before the day is done. Ultimately, the dealer wants to make the sale and will be willing to negotiate.Here are some questions to keep in mind as well while shopping for a new vehicle:
- What is the main use for the vehicle?
- Which models are you interested in?
- Which safety features is the vehicle equipped with?
- How fuel efficient is the vehicle?
- How much does it cost to insure the vehicle?
- What are my purchase options?
- What is the car’s resale value?
Once the decision to purchase a car has been made, be sure to contact a DriveSure.ca broker. We can set you up with replacement cost insurance and help you protect the value of your investment.
DriveSure.ca provides a suite of insurance products that help you protect the value of your vehicle including replacement cost, limited depreciation, post-crash guarantee and OEM parts. Contact a DriveSure.ca broker in your area to get a quote.