December 8, 2017 by Space Coast Credit Union
Maybe your neighbor just drove home in a brand-new car, one with a hybrid powertrain and the latest in driver assistance technologies, and you’d sure like those features in your own vehicle. Or maybe you’ve had your eye on the latest in minivan choices, ones with second-row seats that slide from side to side. If you drove that minivan, you keep thinking, it would be so easy to take child seats in and out, and your son and daughter would be securely seated in the safest part of the vehicle. Or perhaps the sleek and sporty design of a car shown on television commercials during every break in the NBA games you watch is calling your name.
Here’s the good news! December is an outstanding time of year to buy a new car. In fact, it’s one of the best times. Here’s why.
You can save money! As Time.com
points out, “December tends to deliver the deepest discounts of the year, with buyers receiving an average 7.7% off MSRP ... For an average buyer, that’s more than $300 in savings.” And, as a U.S News and World Report
article points out, this is even more important if you’ve got your eye on a luxury model.
Christmas to New Year’s Day
U.S. News and World Report pinpoints the time from Christmas to New Year’s Day as the single best week to buy the new vehicle of your dreams. Sales quotas need to be met throughout the year, of course, making the end of any month a more strategic time to negotiate the purchase price of a new car—but this week has the added benefit of being the time when salespeople and managers are accelerating their efforts to also meet end-of-year quotas, both personal and dealership-wide. “The final week,” the article reads, “intensifies competition on all fronts.”
Manufacturers are likely giving your dealership “significant payouts” to get the 2017 models out of their showroom during this time period, so your salesperson will likely have his or her eye on the bonuses to be had. And here’s something else to consider: “In addition to the incentives and deals they promote to attract customers, there’s usually also ample inventory from closeout models, giving customers more choice on additional bargains.”
During the holiday season, people are traveling to visit friends and family. They’re baking and shopping and wrapping and—you get the idea. So, if you notice that your dealership has low levels of foot traffic, this means your salesperson is likely experiencing a dearth of opportunities to meet quotas and earn bonuses. This creates the perfect opportunity for you to negotiate the sweetest deal possible.
New Car Shopping Tips
- Carefully consider your needs in a new vehicle.
- Use online calculators to help ensure that you choose a vehicle that fits your budget. Remember to also factor in insurance and maintenance costs, plus fuel.
- Investigate prices ahead of time so you know the vehicle’s invoice price, plus the MSRP (manufacturer's suggested retail price) and average selling price of vehicles that interest you.
- Also read industry reviews and consumer ratings of the vehicles you have in mind.
Contact SCCU for Your New Car Purchase!
Our auto loan rates
are some of the best around and applying for an auto loan
is fast and easy, with local decision makers facilitating the process for quick approvals. We look forward to serving you with your new car purchase!