The last week of 2014 will be the best time all year to purchase a vehicle. Automotive experts anticipate large incentives, deep discounts and plenty of customers to visit the showroom from Dec. 26 through Dec. 31.
“With manufacturers motivated to end the year strong, dealerships eager to lower their inventory levels, and brand specialists/managers motivated to hit sales targets, it provides car buyers with negotiating opportunities,” says thestar.com.
If you are in the market to purchase or lease your next vehicle, you would be mistaken to wait until January to drive home in your next vehicle. Last year, True Car reported that New Year’s Eve 2013 was the best day all year to save money on a new car.
So why Dec. 26-31? There’s a number of reasons actually:
Finish strong. Dealerships and manufacturers have goals they are required to meet every year. So the closer they are to the goal, the better the deals are going to be at the last week of the year.
“At the end of December, car companies and car dealers are trying to sell as many vehicles as possible to boost unit sales and revenue numbers for the year that is coming to a close,” says J.D. Power. “If you can wait to buy a new car at the end of the calendar year, you should have no trouble getting a great deal.”
Here at Waikem, we have again seen near-record sales at our dealerships, so we are trying to break the records this year. Record sales lead to more recognition from the factory, so we’re going to everything we can to make sure 2014 ends strong.
“This is the last chance for good annual figures. If you can wait until the end of December, you may really give yourself a great holiday present,” says dummies.com.
Clear the lots. Dealerships have to pay taxes on every vehicle, new or used, that is sitting on the lot on Jan. 1. So isn’t it obvious why we would offer you even better deals at the end of the year.
“Buying a new car at the end of the calendar year remains a good strategy because it follows the same logic as these other buying techniques; it’s based on when the dealer is most anxious to negotiate,” AutoTrader says.
Kelley Blue Book puts it in simple terms: “Buy at the end of the year — some dealers will clear out inventory for tax reasons.”
Slower Season. It’s hard for the car dealership to compete with the department store during the holiday season. While you’re out buying presents for your children and families, you’re probably putting you car search on the backburner. Therefore, November and early December are some of the slowest months for car sales, creating a larger supply than demand. When cars sit on the lot too long, the price goes down. When the price goes down, you’re obviously going to get some of the best deals of the year.
“Digital gadgets, sweaters and TVs aren’t the only things on sale during the holiday season,” Fox Business says. “Time it right and you can get a good deal on a new car.”
When it comes to used cars, Auto Credit Express says “Sure, you may not get the manufacturer’s incentives that new car buyers will, but dealers will be anxious to move used stock as well.
“When they are trying to hit numbers, selling previously owned cars counts too. And dealerships will probably want to make room for the anticipated trade-ins that will be coming in when tax return season hits,” the website says.
Consumer advocate website CarGurus.com says used car shoppers specifically will will get great deals this month.
“If a car purchase is on your radar, don’t wait. Getting your search underway now could save you hundreds of dollars.” CarGurus says the cycle will turn again at the beginning of next year after tax return season and the increased demand for vehicles.
Saying goodbye to 2014’s models
The newest 2015 models are coming in daily, but we still haven’t sold every 2014 model year vehicle on the lot. The longer these 2014 models stay on the lot, the deeper their discounts become. So December 2014 is great opportunity to drive home in brand new car.
“Dealers have the added incentive of clearing last year’s models to make way for the new year models. If you don’t need the latest and greatest, you can find a great deal on a car that’s only a few months old,” USA Today says. “Unless there’s a major redesign on the model you want, the small difference between this year’s and last year’s model isn’t as significant as the price difference.”
Holiday Bonus Cash
Auto experts agree that the end of months or holidays are usually the best time to purchase vehicles. Luckily, we have both at the end of December. During any holiday week, the manufacturer’s will introduce some kind of additional holiday bonus cash or holiday incentive that’s only available in the days right before or after the given holiday. Some manufacturers have already introduced their Christmas-season Holiday Bonus Cash, and we’re sure to see even more as the year winds down.
But Be Prepared A few years ago, it seemed like only the smartest of shoppers knew that December 26-31 was the best week all year to buy a car. But the secret is out now, and this is now one of the busiest weeks all year in the dealership. The smartest shoppers know to go online to Waikem.com and schedule an appointment with our internet team. By getting your online eprice, you have access to our best pricing. Our nationally-recognized in house Internet Department can then also schedule an appointment for you to meet directly with our sales manager. An appointment is like having an easy pass at the amusement park, because you move to the front of line, ensuring the savings and helping you bypass the up-front sales process.
Fox Business and True Car say an appointment is the best way to handle your next vehicle purchase:
The smart money may think the best move is to wait until around closing time on New Year’s eve to get the biggest savings but you may not be alone in doing that and could end up in competition for the car salesperson’s time or worse in a fight over the same vehicle,” they say. “A better strategy is to call ahead and let them know you want to schedule time to test drive and close the transaction.
“If you got your ducks in a row go in early and be honest. I know what I want and I know how much I want to pay,” True Car says. “The dealers want your business they want the long term relationship.”
Contact Waikem today for the latest specials and schedule your appointment