It’s Time to Buy a Car – or Is It?

Longing for that new car smell? Believe it or not, timing can have a pretty big impact on your savings when it comes to purchasing a vehicle.

From the time of day, time of week, to the time of year – there are many tips and tricks you can use to get the best possible deal on your new car – let us help!

The day is Over- But your Shopping is Not

So you’ve just finished up work and now you have some time on your hands. Why not head to the dealership! As the work day nears an end for car salespeople too, they’re just as antsy as anybody to finish up. This often means the salesperson you’re dealing with doesn’t feel like getting into tough negotiations, and would rather give you a great deal for a hassle-free sale. Catch a salesperson as they’re leaving the showroom and make an offer. It’s more likely than not that you will get the deal you’re looking for.

…or, The Month is Over!

What you might not know about car dealerships is that it’s common for bonuses to be offered to salespeople who sell the most cars in a period of time (like, say, a month). How does this help you, the customer? Getting in there right when a salesperson, or dealership, is working to meet their monthly quota could get you a sweet deal. Knowing that the profit from the bonus will offset any loss made on the final few sales means a salesperson may be willing to take a loss – which is your gain.

…OR, the Year is Over!

Year-end deals on car sales are more common in general. There are usually many incentives and discounts at this time, as dealerships work to clear any remaining inventory of the current year’s model. You could be looking at thousands in savings, or significantly better financing and lease rates. The fact that most people are busy with family or have tapped out their finances for the holidays means the showroom is quiet, and the salesperson wants a sale.

New Model, New Deals

After a vehicle model is released, it has a few years before it will be redesigned for a new generation of that model. Manufacturers know that many consumers are waiting for that new generation to hit the lot, so they will discount the previous generation heavily in many cases. So, you can get a brand new car, with the same manufacturer’s warranty, for much cheaper.

One Man’s Timing is Another Man’s Deal

In general, car sales in Canada peak during the spring and summer months. So right now, more people are out there looking at options, and people are making sales. Waiting for a slower sales month could mean getting a salesperson who really wants to make a sale, and therefore is willing to give you a better deal in order to make that sale. So, put your hat and jacket on, and tell your mother you might be long because you’re going to buy a car.

Nobody Likes Mondays

…and that includes salespeople. At the beginning of the week, things are usually busier and more stressful. By Wednesday, things have usually calmed down and your salesperson is more relaxed and prepared to work with you. This way you won’t be rush and feel like you have to quickly sign something to get out of there. But, don’t wait too long, because the weekends can easily ramp up again as more people are off work. Tuesday-Thursday is the sweet spot.

Perception is Everything

You would be surprised how many people would prefer to buy a 2021 vehicle, for example, over a 2020 vehicle, even in January. You might be able to use this to your benefit, as once January hits anything with the previous model year is instantly less desirable. This could mean a great deal, on what is still essentially a new vehicle, for you.

So, time really is money. Use our tips to save on your next vehicle purchase, and give us a call to help you navigate auto insurance for your new ride.