You may find yourself wondering when the best time to buy a new car is because buying a new car can be a stressful experience under any circumstance. The fear of getting ripped off, haggling for a new car, getting a poor trade-in value or buying a lemon can all discourage you from taking the plunge. Here are some factors to take into consideration when trying to determine the best time to buy a new car:
You Want a Non-Beater Car
If you have an old, reliable fuel-sipper, chances are it's a losing financial investment to go out and get a new car. That said, whether for business or for pleasure there are times when you want to have a more presentable automobile - a beater with a fast-oxidizing roof and hood can be unflattering, especially if meeting clients. To that end, any time can be a time to purchase a car.
Year-End Clearance
Car makers usually start bringing in the new model year cars around fall. The benefit of this is that they likely want to move their older inventory to make room for the latest cars. As a result, you can often get new car rebates if you time your vehicle purchase right.
Capitalize on Slow-Selling Models
Unpopular models can be had for amazing deals when dealers stack up new car incentives. The mal-aligned Pontiac Aztek for example was a great deal'if the owners could live with the unique styling. Economic downturns, or a general slump in auto sales can also work in your favor for getting a great price.
Low Interest Rates
In addition to your credit score, the federal interest rates can impact the type of financing you can get. Take advantage of times when the interest rates are low from lenders to purchase a new car. And a lot of times it is safer to get an approved loan beforehand from a bank, which avoids hassles and new car scams with dealers.