Know When to Buy a New Car
» Posted December 28, 2016 Resources | Share This Post
Buying a new car is a stressful experience, as you have to spend a lot of money to get a new vehicle. There is little or no pricing transparency in the car buying industry, which can leave you uncertain as to how much you will end up paying or whether you got a good deal or not. There is also a very real concern your car will be defective, especially in light of record numbers of vehicle recalls over the course of the last several years.
The car buying industry is set up for dealers to make a profit -- not so much for the protection of consumers. There are some consumer protection rules, including lemon laws which an Orange County lemon law attorney can help eligible drivers to seek remedies under. However, there are also many situations where car buyers get ripped off and there's little they can do about it.
To try to avoid entering into a bad deal, you should do some research before you start car shopping. Among the many things to research: timing. When does it actually makes sense to buy a car?
The Best Times to Buy a New Car
Fox News provided a list recently of the five best buying opportunities when new car shoppers can usually get the best deals. According to Fox, key times during which you may want to shop for your next new car include:
- When there is a vehicle model changeover. If new cars are coming from the manufacturer, dealers will be eager to get rid of the old models so they can make room for new inventory. Most buyers want the newest models, so dealers sometimes offer generous incentives to get rid of the vehicles that are about to become a model year too old.
- When dealers are feeling pressure at the end of the month. Car dealers have quotas to meet. If they are running out of month and haven't met their quota yet, they are going to be eager to close a sale and may offer you a better deal.
- Year-end sales: Luxury carmakers especially will try to entice consumers to buy at the end of the year so they can finish their year with strong sales.
- When a vehicle model is being redesigned. If a manufacturer changes the look of a car, dealers can end up with both older and newer versions on the lot. Most people want the newest version, just like with model changeovers, so dealers will start offering discounts to try to get rid of older versions.
- When a model is going out of production. If a car is being discontinued or rebranded, dealers want to sell remaining models as quickly as possible. This means good prices for consumers.
If you shop during these times, hopefully you should be able to get the best deal possible in your car buying endeavor. The problem, however, comes from the fact that your car could still have serious issues. If you have problems and want to find out about your legal remedies, contact a lemon law attorney as soon as you can.