A wise man once said that there are 2 moments that define a man’s life.
- The day that he gets married.
- More importantly, the day he buys his first car.
While one of these moments will ensure that your life is being spent with the companion of your dreams for years and years to come, the other one will begin to wither in excitement as soon as the wedding is over.
Buying a car, or in particular, knowing when to buy a car is not something that should be glossed over. Like a wedding, it can set you back financially if not properly managed or prepared for in advance.
On the other hand, if you know how to catch the right deal at the right time, you can potentially save hundreds or even thousands of dollars in new-car transactions.
So instead of being susceptible to your typical, slick, gelled-hair car salesman, learn about the invisible game being played around you first before making any big purchase.
By knowing the elements of the game (how to time your purchase properly, when the salesman is actually desperate to close a deal, how you can get him to give you individualized attention etc.), you can use this to your advantage to turn the tables on him and the car company to get the best bang for your buck.
At The End Of The Day
At the end of a long day, all sales and finance professionals just want to head home. But not at the risk of losing a potential customer.
This is great news for us car-shoppers. We can often negotiate strong deals during these late hours, as the dealer has less willpower to put up a strong enough fight and will do anything he can to speed up the negotiation. Don’t let this plan backfire and make sure that you’re as well-rested as the dealer is tired in order for this to work in full force.
The reverse of this, however, is that due to the shortened attention span of the dealers, the negotiations may end up being more frantic and cause more anxiety, so be weary for those kinds of situations.
At The End Of The Month
On a macro level, this principle can be applied to the end of the month or quarter because dealers usually operate on a monthly cycle and use that time interval to measure sales.
They will do anything to make sure they hit their sales target, which means you’re in more of an authoritative position to get what you want. If the dealer or a sales representative is just shy of his monthly goals, you will have a huge negotiating advantage.
Apart from using this sales target dilemma to get what we want, in some cases, buyers can get great deals at the end of the month even though their sales goals are met. Special bonuses for salespeople sometimes kick in only after he or she reaches monthly goals.
During The Right Season
As mentioned in one of our other posts, if you simply wait for the right time when new car models are being rolled into dealer’s inventories, you’ll be able to save a ton of money when buying the car you’ve always wanted. This typically happens in the late summer or early fall.
For example, you may be able to get an attractive deal on a 2015 model vehicle, provided the replacement 2016 models are already on the lot. In some cases, dealers will even have the previous model year in stock.
So unless you’re disgustingly rich, do not be fooled and demand for the newest models right off the lot as you will likely pay a higher price than those who choose to patiently wait for the right time to strike. In some cases, when some all-new or redesigned models are in high demand, dealers even may ask for more than the ‘sticker’ price listed.
The window for buying is relatively small, and not all shoppers can afford to wait. As long as you approach the dealership any time demand is low, even on a rainy or snowy day, you’ll be more likely to save compared to the average shopper who has no strategy or thought-process behind his actions.
Shop Early In The Week
On weekends, salespeople typically have their hands full with a large number of shoppers. Shopping on Monday or Tuesday can get you more personal attention.
Also, if he has had a bad day and not closed any deals yet, you coming in as the last customer at the waning hours of the day may just prove to be the very opportunity he needs to end his day off nicely with a deal. Furthermore, the dude just wants to head home, is probably tired, weary, delirious and will do all he can to speed up the negotiations and be more likely to give you what you want.
The trends of car buying are truly limitless. We’ve given you a timeless strategy which can be applied to almost any situation to your advantage, but of course, this topic can be further elaborated.
For example, studies have shown that certain types of cars are better to buy in different months as compared to others (midsize cars get better deals in June, while buyers can grab a better deal on a subcompact in December).
What’s important is that you do the research first before ever pulling out your wallet to make a transaction. Like a committed war general, be sure to study the battlefield first. Only by doing so, will you give yourself the best shot to win the fight, and get the best deal for your car.