“I am looking to get a new car, but when is the best time to buy?” That is a pretty common question among car shoppers. Over the years there the average person has thought the end of the month, or even better yet – the end of the month at the end of the year! There may be some truth to that – for certain folks, but for others – and most people – that is no longer the case. You may find the answer surprising!
There are several types of car buyers out there, but for this particular topic we will focus on two: the emotional car buyer vs. the analytical. Neither of which being better than the other, they just have different priorities.
Since most people would argue that the end of the month is the best time to buy, or so they have heard, let’s start with that buyer. This person would typically fall into the category of the emotional buyer, though not always. The reason the end of the month is the best time for these buyers is because there are more reasons to buy now – the most typical being manufacturer incentives will be changing very soon. The challenge for this buyer, though, is the feeling of pressure – whether it is there or not. Just the fact that incentives are typically ending puts a bit of uncertainty in your mind – will the programs get worse? Better? Will I have missed a great opportunity? It can be pretty intense for these customers at times.
The second buyer, the analytical buyer, has a different outlook. Since emotions tend to be less of a factor these buyers will tend to buy when everything makes sense to them. A lot of time would typically be spent researching the vehicle they are looking for, whether online or stopping at dealerships a few times before they actually buy the car. Either way, there tends to be a bit more time involved. For these buyers they will typically buy a car once they have looked at several different options, and thought long and hard about the very question of “when” to buy the car. A lot of these folks would also tend to feel the end of the month is when the “best” deals are to be had. They have just put more research in beforehand.
Now to this point it would appear the “end of the month” is the answer. But is it? When someone goes to buy a car, are they looking for the fastest process just to get the end result? Or, would one prefer the most accurate process?
What is the difference?
Take a look at the restaurants, would you rather have a server that is fast – and in the process might make a few mistakes, or someone that takes their time to be sure everything is done with excellence? That is the difference. And in the dining industry you will typically find better and more accurate service during off peak times.
The same can be said for buying a new car. Except when you are buying a new car there are a lot more things to get right – especially the legal documents. There area also many things to learn about the new car.
All in all, the best time to buy a car is the “off peak” times, when your consultant can spend more time with you and getting the details perfect for you, than at the end of the month – when everyone is in a mad dash to buy their car.
Ultimately though, when you are at the dealership you have the best opportunity to get your best deal. Because statistically the odds of someone coming back are pretty slim. So the next time you go to buy a car, and you are at the dealership – there is no time like the present to buy.
Stop in and see Wilde Toyota in Milwaukee when you are looking for your next new or pre-owned Toyota, we will be sure to give you the best deal when you stop to see us!