Are you planning to get a new car? If so, then now is the time to start shopping! The end of the year is mostly a great time to buy a new car as dealerships work hard to clear out their inventory before the next model year. To help you get the best deals, here are seven savvy tips for snagging a new car at the end of the year.
1. Do Your Research
Before you go into a dealership, it’s important to research the car models that interest you. This way, you’ll know what features are available and how much they cost. You can also read reviews from other customers to get an idea of their experiences with the car.
When researching, also look at the manufacturer’s incentives and current promotions. Knowing what deals are available will help you negotiate a better price with the dealer.
2. Get Pre-Approved for Financing
If you’re going to finance your car purchase, get pre-approved for a loan. This will give you an advantage when negotiating with the dealer as they won’t be able to offer you the financing that is worse than what you already have. It also gives you more bargaining power.
3. Don’t Be Afraid to Walk Away
When negotiating, it’s important not to get too emotionally invested in the process. If a dealer isn’t willing to offer a good deal, feel free to walk away and look elsewhere. There are always other dealerships and car models out there!
4. Shop Late in December
December is the peak month for car sales because dealerships look to clear out their inventory before the end of the year. You’ll often find better deals and better discounts at this time. Shopping late also gives you leverage since the dealer won’t want to carry over the car into the next year.
5. Buy the Car, Not the Extras
If you’re looking for a good deal, it’s best to focus on getting a great price for the car rather than all the extras like extended warranties and dealer add-ons. These items can often be purchased separately for less money. This way, you can get a better overall deal.
6. Don’t Rush
When buying a car, it pays to take your time and think about your purchase carefully before making a decision. You want to ensure you’re getting a good deal and that the car fits your needs and your budget. Also, try to avoid deciding while you’re in the dealership. It’s better to take the car for a test drive, think it over, and then come back later with your final offer.
7. Think Long-Term
Finally, remember to think long-term when buying a car. You want to ensure the car will last you for many years and that you can resell it if needed. Consider factors such as resale value and car reliability when making your choice.
Following these seven savvy tips for snagging a new car at the end of the year, you can get an amazing deal on your next car purchase. Do your research, shop late in December, and don’t be afraid to walk away if a dealer isn’t offering a good price.