When is the Best Time to Buy a Car?
Buying a car, whether new or used, is a big commitment, and must be timed right to make the most of market fluctuations, dealership offers, and your own personal circumstances. Certain times of year can see far better prices than others, and could mean that your new or used car on finance won’t be eating into the funds quite as much as you may have anticipated.
For those shopping for a used car, the end of any month tends to be an optimal time to source a great vehicle at an affordable price. New cars are often best purchased just before new registration plates are released or at the end of each quarter, when sales teams are pushing hard to hit targets and may be more accepting of your cheeky negotiation.
When is the best time to buy a used car?
Used cars are a great option, especially for those considering first car finance or those with a smaller budget. Prices, overall, are relatively stable at the moment, making it possible to find a top model for a low price. However, trends aren’t always permanent, and a market offering good value today could be considered expensive tomorrow. That’s why it’s handy that there are some specific times of year when used cards tend to be at their most affordable.
After the new number plates are released
New registration plates go live in March and September each year, meaning the market can be flooded with vehicles as drivers look to upgrade to the newer models now available. With a dearth of used cars now on the forecourt, dealers are more likely to want fast sales to clear stock.
Just before new registration plates are introduced
As new cars come in, the dealerships are aware of two things. One, that there will be a huge interest in new stock, and two, there will be a lot of cars to shift to make way for the abundance of part-exchange models they are likely to take on. To clear this stock, they may be open to lower offers to make more money off new models and younger part-ex models. This makes February and August great times to buy a used car.
When is the best time to buy a new car?
Buying a new car can be exciting, especially if it’s a vehicle you’ve had an eye on for a while. To get the best prices, it’s all about timing.
End of each quarter
Car dealerships have a bit of a reputation, but it’s not always bad! At the end of each quarter, dealerships will try their best to hit targets, and rather than force the sale upon you, they may be more accepting of your offers. Aim for the end of March, June, September or December and test the water with an offer; you may even find that they have a special offer in place in a last-ditch attempt to secure sales. Also, consider visiting during the week rather than at weekends, you’ll have fewer people trying to buy the same car as you and can spend more time with the salesperson trying to get the best deal.
Before the new number plates are released
Many drivers resist buying a new car until the new plates are launched. This means that in August and September, it’s possible to get a better price as dealers try to sell fast.
When the new model is released
Sometimes a new model is scheduled for launch, meaning the original model may be available at a lower price. This isn’t always the case, but it’s worth investigating as the difference between the original model and the updated version can easily exceed £1,000.
Is it better to buy a car in the winter or the summer?
Much depends on the kind of car you want to buy. If you are looking for a sporty number to enjoy during the summer, buying it in June will likely cost much more than buying it in December. Likewise, a Range Rover or similar will be in higher demand during the winter months due to its capabilities, and therefore, it could be more expensive.
December can be a great month for buying a car, regardless of its type, as purchases like these aren’t top of the agenda during the festive period. This can also roll into January, as many dealers put together sales with incredible discounts.
Buying a car for the best price is all about timing, and at Get Car Finance Here, we are available year-round to offer a host of car finance options for all applicants. Whether you have poor credit and require bad credit car finance, or have a lack of initial funds and need no deposit car finance to help you get started, we can help. Simply apply today or give us a call to find out more.