Is there a good time to buy a new vehicle? Inversely, is there a bad time? Many would say that you should just buy the car whenever you want to buy it, and for the most part they would be right. However, the fact remains that choosing to buy a given vehicle at a given time can and will influence the price as well as availability.
When thinking about the right time to buy a vehicle, think end of month and end of year. The automotive world revolves around objectives, specifically sales objectives that must be met. Moreover, there are new vehicles always coming into dealerships, and new model-year models coming in as well at some point during the year. Therefore, dealerships need to make room for them.
Back to the objectives, they are set on a monthly and yearly basis. That means that a dealer, and each sales representative inside that dealership, needs to sell a specific number of cars each month and each year. So you can see why buying a car at the end of the month may be a good idea. If the dealership has not reached its objectives, it may be more inclined to give an additional discount to get one more vehicle out the door.
Same goes at the end of the year. The idea is not to show up on the last Friday of the month 45 minutes before the doors close. However, visiting the dealership the last week of the month or the year may be a good idea.
Same thing starting at the end of spring/beginning of summer when dealers begin to get their new model-year vehicles. They will have previous-year models on the floor taking up valuable space, and may be inclined to get them out the door even if it means an additional rebate.
On the other hand, keep in mind that these rebates will not necessarily be anything substantial. So, if you are ready to buy and we are the first of the month, by all means!
Thank you to Morrey Nissan of Burnaby for help with this article.