Is the End of the Year the Best Time to Buy a New Car?

Is the End of the Year the Best Time to Buy a New Car?

Young couple taking delivery of their new car at a showroom

Regardless of when you buy a new car it goes without saying you want the best deal possible. There are various buying tips that apply year round. However, there is good news for you if you are buying in December whether it be by choice or necessity. As the new year approaches, you generally have a bit more power as the buyer simply because of the time of year. Here are a few reasons why that is so:

Plate Clearances & Stock Clearouts

The end of the calendar year can be a good time to take advantage of stock clearouts and plate clearances. In many cases, the dealerships will be ready to offer you great incentives to get rid of what may soon be considered as ‘old’ inventory.

Once the new models start to arrive in showrooms, the dealerships will have to work harder to sell the older models unless they provide an incentive to buyers. To get ready to sell the new one they may also need space on their showroom floor. So that’s a good opportunity to negotiate really good prices on current year models and demo vehicles that dealerships are keen to move.

Around this time of year you will probably see various offers from dealers described as ‘plate clearances’. The date stamped on the car’s build plate has an impact on appeal to buyers, depreciation, and resale value. New car dealers know this, so they will sometimes offer attractive deals on what is soon to become last year’s model.

Sales Targets at Dealerships

The sales goals of various dealerships and manufacturers is something that can make a surprisingly big impact on the deal you can get. With end of year financial targets and sales goals fast approaching, dealers might find a little bit more wiggle room with the price tag. With only a few weeks left until the end of the year, now can be a great time to negotiate with dealers.

Some dealerships offer their salespeople a financial bonus when they hit the target so you can be sure the salesperson is keen to get a deal done. Major sales targets at dealerships often come round at the end of the financial year and the end of the calendar year. So the next few weeks can be a prime time to find a deal on a new car you like.

Does it Make Sense to Buy Last Year’s Model?

What difference is there between a MY18 car and a MY17? Often the biggest difference is just the number and how appealing that is to buyers. However, as the buyer you should also be aware of what difference it will mean for you when it comes time to sell or upgrade.

Because the plate number will have an impact on resale value later down the track, it’s important you factor that into your buying price. This is where expert advice can really pay off and give you peace of mind you are getting a good deal.

Using an Expert to Buy on Your Behalf

Want someone to negotiate a deal for you? Car Search Brokers can shop around on your behalf and find you a great deal based on your needs and situation. We can also advise on optional extras, accessories, finance options and answer any other questions you have. We’ll help you make an informed decision with your purchase. If it is worth waiting to the new year we can also advise you on that.

For expert assistance in finding, inspecting and negotiating the purchase of your next car, contact Car Search Brokers on 1300 650 890.

Posted on December 5, 2017 in Blog