So you are considering buying a new car…
Or simply aware you need to think about replacing the current one, is there a technique for doing so or do you just go looking when you have run the current car into the ground?
Certainly, once you have the money in the bank, especially if you have saved for a significant amount of time you might feel an overwhelming urge to head on down to the showroom and drive away with a beautiful shiny new car, however, if you don’t mind waiting a little longer, there are many bargains to be had at particular times of the year.
Relying on your negotiation skills can help to drive that price down but that’s definitely not the only technique you can employ to buy your new car at the best possible price.
New UK registration plates are introduced every year in March and September and of course dealerships are desperate to sell the stock of vehicles that have been sitting in the yard out of sight for some time since production at the manufacturers – having a vehicle that was produced 6 months prior will not only get you the lowest price but will also be sold to you with the most up to date registration plate too!
Sign up for some newsletters from your desired car manufacturer and you will find you’ll be offered discounts on previous models when the manufacturer starts promoting the new model – they will slash the prices of older models to make room for the new ones, the same also applies for new face-lift versions.
Dealerships have sales targets to meet at the end of each quarter and, as those deadlines draw nearer, they become more eager to make sales and hit targets. Around this time, it’s often easier to persuade them to sell you a car at a reduced price. In particular think towards the end of the year, between October and December.
They won’t disclose this but a dealership also gets paid if it hits the manufacturers targets for annual sales (amongst many other factors) So at times during the year, they will sell the vehicles at a loss – simply to hit the target set by their manufacturer – the manufacturer then pays the dealership and huge sum of money for attaining their target and so a small loss on an individual vehicle is a small sacrifice for them to make with the bigger picture in mind!
Consider that buying the newest model isn’t always the best choice either. A new car, being a first-generation model, is likely to be redesigned, facelift, improved upon during its time on the market – the manufacturer will continue to improve it long after you might have bought one so the later models will be improved versions – Wait a few months and the new car you’ve been looking at could have been updated, have improved equipment or been reduced in price.
So yes, there are some things to consider if you are thinking about purchasing a new car that could literally save you thousands if you choose the right time to buy!