"March is a great time for car shoppers to get a good deal on a new vehicle because the Japanese and Korean automakers' fiscal year ends," says George Augustaitis, the Director of Industry Analytics at CarGurus.
If you're getting ready to purchase a vehicle, be sure to read Clark's guides to buying a used car and buying a new car.
<strong>You'll find the best prices for new and used cars just before sales quotas are due, during major holidays and at the beginning of the year. As with many purchases, Black Friday is also a great time to shop for a car.</strong>
When to Buy a Car
Before you start shopping, it's important to set a realistic
budget
. Know what you can afford, and only shop for cars that you can comfortably insure and pay off in a reasonable amount of time.
The Beginning of the Year
That means you’ll find reduced prices from those automakers trying to meet end-of-fiscal year sales targets. In turn, competitors will also be dropping prices to maintain business.
Holidays
The End of the Month and Year
Final Thoughts
According to Augustaitis at CarGurus, the three key times of the year that shoppers should consider looking for the best vehicle deals are March, August and November/December.
More Ways to Save
- Use Kelley Blue Book to determine a good price point for the car you have in mind. It's always a good idea to check the average price and shop online, but you may want to visit a dealership to test drive and close the sale.
- Know exactly what you're signing up for before making your final purchase. Make sure you're comfortable with the total price of the car, monthly payments, insurance, interest rates and warranty limitations.
- Run the VIN number for the used car you're looking to buy and get an inspection before signing any paperwork.
Check Out These Articles for More Tips on Buying a Car:
[ This article was originally published on Clark.com ]
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