2. Following Recent Credit Inquiries
There are certain times that car-buying experts say are the worst times of the year to find new car deals. These days, most would probably agree that it’s any time during a pandemic.
Beyond the pandemic, these are the worst times of year to buy a new car:
1. When a Vehicle Is in High Demand
Sometimes dealers offer temporary rebates in order to clear out a model year entirely during specific days of the year, Rabkin said. This could get you considerable savings.
“These days can take place at any time of the year … so dealers can sell a vehicle for less when they have the use of said incentives,” he said. “These can be in the form of a flat rebate per vehicle sold, or a stair-step incentive, which requires a dealer to hit a preset sales target set by the manufacturer, based on a specific dealer’s normal sales volume.”
Tip for This Tactic: Edmunds offers an online search tool to find rebates and incentives by ZIP code and vehicle make.
The Worst Time of Year To Buy a New Car
On Black Friday, most shoppers are focused on tackling their holiday shopping list. But you might want to hit the dealership that day if you’re in the market for a new car.
Car dealerships’ Black Friday deals could also help you score discounts and incentives on par with the amazing deals you can find at major retailers, according to Edmunds. Several events line up in the buyer’s favor: Dealers are trying to clear out older inventory for the new year, as well as trying to meet quotas at the end of the month. Also, because most shoppers are at the stores, you probably won’t be fighting a crowd at the dealership.
Tip for this tactic: Because Black Friday signals the end of the model year, focus your search on outgoing models for the best prices.
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