Knowing when it is the best time to purchase an automobile may be tricky because the short answer is, it all depends. The market for vehicles is not an exact science and figuring out the proper time to purchase might depend upon who you ask. It also is a good idea to think about your own financial circumstances, budget, as well as needs or wants before you buy a car in the first place. Steely & Smith Insurance can help answer all of you car buying insurance questions, call them today and request a quote.

If you’re in the market to lease or buy a car, here is when it might be the ideal time to go to the dealership:

Purchase at End of the Month

The majority of dealerships set quotas around selling a specific quantity of vehicles per month. If the dealership has not hit their goal for that month, the team might have more motivation to make the sale. That means you might have more room for negotiation on a car by shopping at month’s end.

End of the Year

Many car dealerships provide their best sales at the end of a calendar year. That’s because car dealerships prefer to have less inventory of older car models going into the new year and have to meet annual sales quotas.

Wait Until Next Year’s Car Models Come Out

Typically, new model year cars are released in the fall of the prior year. For instance, that means 2021 cars will probably arrive at car dealerships in the fall of 2020. Most dealerships try and sell off older model year cars before the new fleet get there; however, that does not always happen. It might be a plus for vehicle buyers because car dealerships become motivated to sell the “old” models and give consumers the chance to negotiate a lower cost.

Shop During Holiday Weekends

Most dealerships offer holiday sales, which usually translates to bigger savings when you invest in an automobile over the holiday weekend. In addition, dealerships typically provide higher rebates or special financing within holiday sales events.

Purchase at End of an Automobile’s Design Cycle or Life

Auto manufacturers occasionally redesign, or fully discontinue, specific car models. This might allow auto buyers to score greater savings at the end of a model’s life or design cycle. But, remember that if an automobile is being discontinued, it might depreciate more rapidly. It also is a great idea to look at why a manufacturer is ending production of the vehicle.

For all of your auto insurance needs contact Steely & Smith Insurance at (215) 345-9410. Get a personalized, quick insurance quote today.