Buying a car is one of the largest purchases most people will make in their lifetime. While you will likely purchase several cars over the course of your life, the goal is that you choose when to make the purchase, as opposed to the timing be made for you. The key to getting a good price for the car and insurance is timing. Even in the world of purchasing automobiles, there’s a good time to make the purchase.

 

The Factors That Matter

 

There are several factors that are affected by the timing in which you choose to make your automobile purchase. First, timing may relate to the time of your life or the time of year. Timing in your life can affect many automotive pricing issues, including the premiums you’ll pay for car insurance and whether you’re in a position to truly negotiate pricing with the dealer.

If you’re in a position where your car has died, and you need a new vehicle quickly, you’re limiting your options. You’re desperate, and it will show. Therefore, make sure you’re purchasing your vehicle, whenever possible, while the original vehicle is still able to run. First, you’ll be able to negotiate more money for trade-in value, lowering the out-of-pocket costs for your new vehicle. Additionally, you’ll be in a good  position as a buyer, one in which you can freely walk away from the table without any hesitation.

Another factor that’ll affect the timing of buying your vehicle is your driving record. While the price of the vehicle won’t be affected, a newer car will already increase your insurance premiums in many cases. If you have recently received a ticket or had an accident, your insurance rates will skyrocket, making it a poor time to purchase a vehicle. Understanding your driving record and how it may affect the decision to purchase a vehicle is a key factor that’ll make or break a deal for purchasing a car.

 

The Buyer’s Market

 

The fact is, a good time to purchase a new car (or new-to-your car) is when you’re able to shop in a buyer’s market. Then, all of your other circumstances point to that time in your life to make that type of purchase. The debatable issue is when is the most opportune buyer’s market?

Certain holidays are known times to purchase a vehicle. These times of year include President’s Day Weekend (April 15) and Christmas. Dealerships will be more likely to lower their price to get the sale as they are competing for your business and need to clear inventory. In retail, these are all prime times to help people part with their money, as long as they are getting a deal. As a result, you will find better than normal sales within the industry that are designed to move merchandise.

Another great time to purchase a vehicle is at the end of the fiscal year. Dealerships often make way for new inventory at the end of September. They are ending their fiscal year and want to start pushing the newer models. They will be much more willing to negotiate price on older models to help clear the lot and make room for the pricier vehicles. If you’re not concerned with having the newest model that’s just hit the lot, you can end up with a brand-new vehicle for a fraction of the cost.

 

Get A Good Deal

 

In the end, the time of year and the time of your life only matter to a certain extent. Getting a good deal is as much a matter of timing as it is a matter of negotiating. There are clearly better times for negotiations. However, people who are willing to stand their ground and walk out of the sale at any time of year will fair much better than someone who takes a dealer for his word.

Therefore, the key to getting a good bang for your buck is speaking your mind and asking for what you actually want. If the answer is “no” you must be willing to walk away from the deal and not look back. If you are not able to do this, you will likely pay more than necessary for most vehicles you purchase.

To learn more about getting a good deal on your car and car insurance options, contact our team at ProtectiveAgency.com or call (877) 739-9367. Our licensed insurance agents will be happy to answer any questions you have.