Are you looking at buying a new car? Believe it or not, there are good and bad times to make such a big purchase!
For example, the end of the month is a good time to bargain with the dealer on a purchase price – they’ll be looking to boost their monthly sales targets. The end of the year is also an excellent time to buy, as is the end of the financial year, for similar sales target reasons.
Let us guide you on the best times to purchase a new car!
Best season to buy a new car
As much as you may not think so, seasonality affects car-buying habits.
September, October and November (spring) mean it’s the end of the model year (MY) for most car manufacturers. As such, dealerships grow increasingly motivated to sell cars as the stock they have on hand will very quickly become last year’s model.
Although most MY updates are minor between actual model refreshes, a car labelled MY21 is less attractive to a consumer with one labelled MY22 – it’s human nature to want the latest and greatest, and cars are no different.
December (summer) is also an excellent bet for this reason. In January, the cars on the dealer lot will be last years model – regardless of what the dealer may tell you about compliance date, the build date of the car is what matters – a car built in December 2021 will be last years model in 2022!
June, July and August (winter) make it a tough sell for convertibles and sports cars, purely due to the colder weather. While more prevalent in overseas markets with cooler climates than Australia, there’s still an element of this Down Under. If you’re looking for a convertible, it may pay to shop during winter for the best deal!
Best time of the month to buy a new car
The last few days of the month is generally a great time to buy a car. Most car dealers will be looking to boost their monthly sales targets – if they’re behind on their goal, then they might accept an offer they wouldn’t have earlier in the month!
Dealers may also get incentivised to push volume from specific car manufacturers. In this case, they’ll often earn a bonus from the manufacturer towards the end of the month. If you time it right, you should be able to grab a great deal.
Strangely enough, the start of the month is can also be an excellent time for a purchase, especially if the dealer didn’t meet their sales target from the previous month!
The end of the financial year is also a perfect time to purchase a new car. There’s usually a spike of new car sales throughout June, and most dealers will heavily advertise End of Financial Year (EOFY) sales. Boosting financial year sales figures is very important for dealers and can result in great bargains.
Some manufacturer brands will vary, however. For example, Japan’s fiscal year ends on 31 March, so don’t be surprised if some of the manufacturer bonuses mentioned previously are handed out in March for particular brands.
Best time of week/day to buy a new car
Generally, the earlier, the better is a good rule to follow for the time of day/week if you’re looking to buy a new car! The busiest period for new car sales is the weekend, and that means more window shoppers. If you’re shopping for your new car mid-week, the dealer may take you more seriously, and this could result in a better bargain being negotiated.
Other car buying tips
- Look out for run-out deals ahead of a new car model release;
- Do your research first – before you start looking, be armed with information and know what you want;
- Focus on the cost price first, but accessories or bonuses are often heavily incentivised – push for things to be thrown in, like an extended manufacturer warranty, window tinting or floor mats;
Got a new car and need it looked after? At Robert St Automotive, we offer genuine part fitment to ensure that you can maintain your manufacturer warranty.
Remember, our convenient online booking process lets you pick a time and date for your next service.