Best Time To Buy A Car?
When's the Best Time To Buy A Car?
We'll probably have to agree to disagree, but I don't necessarily think it's at the "end of the month" is the answer to the "when's the best time to buy a car" question any more.
Don't get me wrong, when you're buying a car at retail ( a new or used one), going on the last day of the month when the shop is trying to reach it's quota may be in your best interests.
I remember buying a used Honda Accord once.
I showed up on the last day of the month and the last day of the quarter. It was also just a few hours before closing time.
I didn't realize it until the salesman started sweating and complaining about it as if I was some kind of car buying shark!
I'm not sure I got any kind of super deal, but at least the salesman acted as if I had some kind of leverage and that I was using some kind of "insider knowledge" that dictated the best time to buy a car.
You can see their point though.
Near month end and quarter's end, the number crunchers are hard at work bewailing the lack of sales.
So the sales manager is trying to rouse the sales people into greater productivity so they can all get their bonus.
But I repeat the question. Is waiting till the last day of the month in the last few hours of the day the ABSOLUTE best time to buy a car?
Nowadays I'd say NO.
Why is that?
Because I don't believe in buying a car at RETAIL at all if I can help it!
Call me cheap, but I'd like to buy perfectly serviceable, BUT DIRT CHEAP cars sold at rock bottom... up to 90% off in some cases.
So now my answer to when the best time to buy a car is... "At Auction!"
Whether it's a government auction from the local sheriff who's seized cars from drug dealers, an IRS auction, government vehicles that have 50,000 more miles but are forced to be sold by local policy, bank repossessions, or a car dealer's auction where some auto insider has to go with you, I'm convinced that the best time to buy a car is always at an auto auction!
Click here for nationwide lists of auto auctions...
Here are my reasons...
Let's take an auction from the finance company of a major manufacturer..
1. You've got a nearly new car. The previous driver took the "depreciation hit".
2. You're probably going to get a new warranty for at least 3 months - or save enough to purchase your own "extended warranty" if you are worried the car will fall apart on you.
3. You're going to probably get excellent "new car" financing rates on a used car just to get it off the lot.
Why all the goodies?
The company may have already completely written off the previous transaction as a "complete loss".
If so, they consider whatever they can get from you to be 100% profit!
Let's take a government auction... either from a drug dealer or an IRS seizure.
Why might these opportunities be the best time to buy a car?
Remember the drug enforcement officers and the IRS have NO COST BASIS in the car.
They're in the same position as the finance company that's written off their loss.
Like the finance company, the government agency selling items at auction have 100% to gain.
It's "found money" to them whether they make $1,000 or $10,000. Sure they'd like as much as possible on any given day, but they'll take the money and run.
So the best time to buy a car for these agencies is "any time they have an auction" as long as the car is something you can use or something you can quickly sell at a profit.
This isn't brain surgery.
It's just basic economics.
The answer to the question "when's the best time to buy a car" is simple economics.
1. Do you prefer to buy at RETAIL or WHOLESALE?
In other words, do you want to pay what the average person pays, including years of interest and face the risk of massive depreciation and being "upside down" on your loan (this is when you buy a new car that depreciates so fast when you go to trade it in, the car has no trade in value)?
Or do you want to buy a car at wholesale prices, like a dealer, and save thousands on not only the purchase price, but thousands of dollars in interest payments if you get a loan?
2. If you prefer to buy at retail, then by all means the best time to buy a car is at the end of the month in the closing hours of the day (and preferably the quarter).
3. If you prefer to buy at wholesale instead of retail, then the best time to buy a car is at auction.
Let's say it together...
When's the Best Time To Buy A Car? At Auction!
About the Author
Chuck Huckaby writes the Work At Home Business Opportunities Blog and 1stHowToWorkAtHome.com and 1st-WorkFromHomeJobs.com - Real Jobs Continuously Updated!. They're 3 of the best Work At Home resources on the web! Visit soon!
Written by: Chuck Huckaby