Looking to score the best deal on a new car? Timing is everything. Here are some insider tips to help you strategize your purchase:
End of the month: Salespeople are under pressure to meet monthly quotas, so they may be more willing to negotiate and offer discounts as the end of the month approaches.
End of the quarter: Similar to the end of the month, salespeople are also working towards quarterly sales goals. Take advantage of more incentives and discounts by timing your purchase at the end of a quarter.
End of the fiscal year: Dealerships are looking to clear out older models to make room for new ones, so they may offer huge discounts and incentives to meet sales targets at the end of the fiscal year.
By understanding the sales cycles of the dealership you plan to purchase from, you can put yourself in a better position to negotiate and get the best deal possible. Don’t miss out on the opportunity to save big on your next car purchase.
Timing is key when it comes to buying a car
So, you want to buy a car? Congratulations! Buying a car is a big investment, and you want to ensure that you’re getting the best deal possible. But do you know the best day of the month to buy a car? Timing is key when it comes to buying a car. There are certain days of the month, quarter, and year when dealerships are more motivated to make a sale, and this is when you should strike.
The end of sales cycles mark the best time to negotiate a purchase
Dealerships work on sales cycles, typically monthly, quarterly, and annually. This means that they have targets to hit, and bonuses to earn, by selling a certain number of cars within each cycle. As a result, the end of a sales cycle is the best time to negotiate a purchase. At this point, dealerships are more motivated to close a sale and meet their targets.
Some dealerships may even have incentives for salespeople to sell a certain number of cars within a particular cycle. This can put pressure on the salesperson to make a deal with you, and they may be more willing to negotiate on price or throw in extra features to sweeten the deal. As a buyer, you have the upper hand at the end of a sales cycle because you know that the dealership is hungry for a sale.
Understanding salespeople’s pay structures can work in your favor
Knowing how a dealership pays its salespeople can give you a better idea of when to make your purchase. Salespeople typically work on commission-based pay structures, meaning they earn a percentage of each car they sell. This commission can be affected by hitting certain targets, such as selling a certain number of cars within a sales cycle.
If a salesperson is close to hitting their target, they may be willing to make a deal with you to secure the sale and earn their commission. If they miss their target, they may look to make a larger deal with you to make up for it. Understanding a salesperson’s pay structure can work in your favor, as you can use it to your advantage when negotiating.
- TIP: Be friendly and build a rapport with the salesperson. This can help you get a better deal, as they’ll be more likely to want to work with someone they feel comfortable with.
The end of the month could help you save on a new purchase
While the end of a sales cycle is the best time to make a car purchase, the end of the month can also be a good time to buy. Dealerships often have monthly targets to hit, and if they’re falling short, they may be more willing to make a deal to hit their target.
This is especially true if the dealership is close to hitting a milestone or achieving a bonus. For example, if they’ve sold 99 cars in a month and need to sell one more to hit a bonus, they may be more inclined to make a deal with you to secure that final sale.
The end of the quarter can lead to even greater discounts
While the end of the month is a good time to buy, the end of the quarter can lead to even greater discounts. The same principle applies: dealerships need to hit their targets and earn their bonuses, and if they’re falling short, they may be willing to make a deal.
Dealerships may also be looking to clear out their inventory at the end of a quarter in preparation for new models, which can lead to even greater discounts. If you’re looking to save money on a new car, the end of the quarter can be a good time to buy.
- TIP: Do your research and know what you want before you head to the dealership. This will help you negotiate a better deal and avoid any impulse purchases.
Waiting until the end of the fiscal year may result in the best deals possible
If you’re looking for the absolute best deal possible, waiting until the end of the fiscal year may be your best bet. A dealership’s fiscal year may not coincide with the calendar year, and this can work to your advantage.
At the end of the fiscal year, dealerships are looking to hit their targets and earn their bonuses. They may also be looking to clear out their inventory to make room for new models. This can lead to fantastic deals on new cars.
But waiting until the end of the fiscal year does come with some risks. Depending on the dealership, the selection of cars may be limited, and you may not have as much choice as you would earlier in the year. Additionally, the end of the fiscal year may be in a different month to the end of the calendar year, so you may need to wait longer than you initially anticipated.
In conclusion, timing is key when it comes to buying a car. The end of sales cycles, the end of the month, the end of the quarter, and the end of the fiscal year are all good times to negotiate a purchase. By understanding a dealership’s pay structure, building a rapport with the salesperson, and doing your research, you can save money on a new car and drive away happy.