Breaking Down Luxury Car Sales: Understand When It's the Best Time to Buy
If you want to save money on a luxury car, sales promotions offered by manufacturers at certain times during the year are the perfect opportunity for you drive off with the car of your dreams and also get a big discount. Most dealers won't advertise special seasonal pricing, but the discounts are available that reduce a luxury car's price by thousands of dollars. So, if you want to know how to plan your purchase of a new car to save the most money, please continue reading.
Buy When There Are Incentives
Times have been lean for car manufacturers in recent years , and this is good news for shoppers thinking of buying luxury cars. When sales are slow, luxury cars are usually the first ones to be offered with manufacturer rebates or financing incentives. Rebates or incentives on luxury cars can sometimes seem to come out of the blue and often appear without little warning. So, you should always be on the lookout for rebates or low interest loan deals that can save you thousands of dollars.
If you're serious about saving money on a luxury car, checking for rebates or low interest financing options should be one of the first things you do. Even if you're thinking of buying a certified used luxury car, you should still check for incentives as many manufacturers now offer low interest loans on popular used model luxury cars.
Timing Your Purchase
When it's time to buy a new car, you should visit the dealership the last week of the month. Most dealerships have quotas for the number of new and used vehicles they are expected to sell each month. Pressure by a dealership's owner, or even the car manufacturer, can work to your advantage in that many sales managers may be willing to give you a better deal simply to sell another car. Although profit is important to the dealership, selling more cars each month does much more to insure a sales manager's job security.
If you don't need the absolute newest model, wait till late summer or early fall when new year models are being delivered to the dealerships. As new vehicles begin to arrive, dealerships often feel pressured to quickly sell off any remaining current year models. The longer a current year luxury car sits on the dealer's lot, the more likely you are to receive a deep discount. Vehicles that sit on a new car lot for a long time can almost always be purchased at, or near, the dealer's invoice amount.
Christmas Time - Malls Are Busy But Not the Dealership
When everyone else is busy running around and shopping for the Christmas holiday season, you might consider heading over to the local dealership. Most new luxury car dealers struggle during the month of December - especially the week before and after Christmas. Sales managers at car dealerships have gifts to buy also, and their paychecks aren't so impressive when the dealer is not selling vehicles.
Visit the dealership a few days before Christmas, and you'll see just how motivated the dealer can be when it comes to offering a deal on a new luxury car. Of course, they will start out with a very high price; however, a little patience on your part will usually be rewarded with the quick offer of a discount.