Top Six Seasons to Buy Used Cars
Mar 05, 2018
Francois Rabelais once said, “For he who can wait, everything comes in time”.
There is a season for everything. If you are planning to buy a brand new car, the right time can save thousands of dollars for you. It is important to choose the right season and time of year. As seasons pass away, you will see drastic price differences (especially with used cars). Transaction prices differ with serious fluctuations in demand and supply.
According to experts, automotive leasing benefits, financing options, and cash back deals change from one season to another. In fact, vehicle inventories see newer models, better SUVs and lucrative deals with time. The deals and discounts you receive depend on the month and day of purchase.
Finding the best time to purchase used cars is an art. And, you must master it!
#1 Before the Need Arises!
Regardless of what the month or season is, you should decide to buy a car (either used or new) before your current vehicle breaks down. Old vehicles are unreliable. They may leave you stranded at any time. If the condition of the vehicle and the best time to buy used cars coincides, you will bag a wonderful deal.
Never wait till your current vehicle model expires or becomes boring. This will reduce the amount of money you make from the trade. Sometimes, you will be under absolute pressure and forced into a horrible deal.
Being ready to buy a vehicle means you have spotted a car that meets your needs. Read reviews and scan through websites that rank used cars in Australia [. Above all, you must ensure if a pre-approved financing option is available.
#2 Monday – the Best Day for Buying Used Cars!
A lot of novice car buyers believe that weekends are the best days to look for used cars. They claim that dealers can be forced into “splendid” deals before they shut down for the week. Unfortunately, data proves that this theory is absolutely wrong. Visiting dealers on a weekend or towards the day’s end will not get you a great deal. It doesn’t help the buyer and the dealer.
A wiser strategy would be to shop on “Mondays”. According to a recent study, buyers who shop for used cars on Monday are likely to save 10% on the MSRP. Shoppers who stick to weekends save between 6 to 7 percent. This proves that Mondays are ideal for buying used cars.
Mondays are better than weekends because it gives the buyer and the sales representative plenty of freedom. It offers more time to negotiate and finalize on a perfect deal. With respect to lenders, they are open only on weekdays. When you finalize a deal on Monday, it gives the lender plenty of time for paperwork and closing the application.
#3 May – the best Month for buying used cars!
For years, springtime is considered as a bad season for used cars. Most buyers wait for the weather to get better. Unfortunately, many buyers wait for June and miss the Memorial Day deals. By the end of May, you will witness Reconciliation Day celebrations. This weekend is a wonderful time for car deals.
The reconciliation week marks the beginning of summer. As the weekend rolls out, dealers come up with new models, lease incentives, and extraordinary finance deals.
People shopping for SUVs and luxury cars should shop in May. This is the best month to forget your winter struggles and buy a huge car with lots of space for your family.
#4 End of the financial year?
Experts consider this as the finest time of the year to buy used cars. End of the Financial Year is a special time when car dealers and companies attract new buyers by cutting down costs. Most car companies delight their prospective buyers with expensive accessories too.
End of the Financial Year makes a big difference in the car industry. It plays an integral role in the success and failure of both car dealers and companies. It has an impact on their annual sales goals! This is why dealers and companies spend thousands of dollars on advertisements and price reductions.
On the other hand, price reductions and accessories mean a win for customers. They will be able to buy stunning cars at rock bottom rates. End of the Financial Year is the best time to compare markets, slow down and check for better deals. Additionally, buyers must check if a dealer is able to make a better offer than a competitor. This includes extended warranties and financial support.
#5 New Year
Another interesting time of the year for buying used cars would be the beginning of New Year.
New Year sales are as superior as the end of financial year sales. New Year marks the beginning of new car models and clearing of old stock. Old car models become difficult to sell in a new year. These cars are considered as a burden by most dealers and car companies.
Cars are shipped to Australia by boat. A renowned European vehicle can take between 3 to 5 months to reach Australia. Cars from Korea and Japan take between one to two months. By the end of every year, car dealers find it difficult to manage their cars. Vehicles with the previous year’s number plates are tough to sell. Every vehicle in Australia features two different number plates. You will find a compliance and a build plate. With time, the difference between the compliance and build plate becomes big. Most buyers prefer vehicles with a smaller difference. This is why dealers use incentives and warranties to sell cars as quickly as possible. As a vehicle moves from one year to another, it becomes extremely difficult to sell. In the long run, the overall value of the car drops.
Customers must make use of New Year. It is the right time to convince dealers and bag big deals. As the difference between the compliance and build plate becomes bigger, they can exert more pressure on the dealer. This way buyers can save thousands of dollars!
#6 Wait Till a Car Model Becomes Old!
The ideal time to buy used cars in Australia doesn’t have a defined time! Instead, you must wait till stocks for a specific model decreases. When new models are launched, most people wait, prepare and invest in the newest models. This is a bad time to bargain on car deals. Dealers will not give you great deals on new models.
On the other hand, you can take advantage of the sales pattern. Once initial needs are satisfied, dealers will experience slow sales. Soon, every model will have upgrades. These upgrades can be anything like mechanical improvements or cosmetic changes. Upgrades wouldn’t increase the price of the car. This is when you should buy the car! Sometimes, you will see people selling their newly purchased vehicles for ones with upgrades. This is definitely a win-win situation either ways. One, you will be able to buy a brand new “used” car. Two, you will be able to buy a car with upgrades at a cheaper price. Often, dealers are open to better discounts and price reduction on older stocks.