The Best Time to Buy a New Car!

Purchasing a car is an exciting time for the family. Everyone comes together to discuss the make, model, model year, design, style, colour and the budget. The decision making can be tricky with new variants and luxury features popping up each coming year.

While most manufacturers will try to entice you with ‘never before deals’ and ‘limited time offers’, one needs to make a calculated and informed decision. The car is an asset that will stay with you for anything between three to eight years at least. If purchasing on a loan, the credit and interest component will have financial implications too, not to mention the operational costs such as fuel, maintenance, and so on.

So, buy a car when you are financially prepared for it and the utility of the car outweighs its cost. That being said, everyone loves freebies and discounts. It never hurts to get a sweetener with the deal, and especially so when you are investing lakhs in a decision. So whenever you take the leap toward your new four wheeler keep these essentials in mind to time your purchase.

Look to close the deal during month/ quarter end

All businesses have monthly, quarterly, half-yearly, and annual targets. Car dealerships are no different. The month/ quarter end pressure affects everyone. Use this to your advantage by pushing the sale closer to the end of the calendar period, but not too close to the last date as the sale may not go through in a single visit. Pay a visit around the 25th or 26th of the month and the sales representative may squeeze in a discount or at least throw in a few freebies.

Go shopping early in the week

The car dealerships are swamped during the weekends. You have serious buyers and window shoppers alike. It gets difficult to get attention from a sales representative, let alone being able to drive in bargains.

Dreary Mondays tend to be the slowest day for a car sale and your best bet at getting royal treatment from the salesperson. You may have to leave from work early that day but it could save you a pretty penny.

Pick an early weekday somewhere around the end of February and you could drive home with a host of complimentary add-ons with the car and possibly a good discount too.

Go offbeat

Everyone buys cars during the festivities like New Year, Gudi Padwa and Diwali. No doubt the discounts are good, but there is an equal rush at the buyers' end. The demand-supply dynamics are too chaotic which means you too have a short window to do your due diligence and take a call.

April to August is considered off-season period. You could stretch the negotiations to your heart’s and wallet’s content.

Shop for the current model when the newer model arrives

Most manufacturers upgrade car models every one to three years to stay competitive. The newer models with better performance and added features take precedence over the older models. Dealers need to clear old stock out before they can make way for the new model and this is an excellent opportunity to snag a great discount on an ‘out of season’ model.

A car is usually a depreciating asset, and time can be your biggest ally in getting a good deal. If you have the time and patience, sometimes even the right day can help you save thousands on your car deal.

While you can wait for the opportune time to buy the car and while you spend your hard earned money on the new car, it is also imperative to protect your asset with the right car insurance.