An expensive investment, buying a new car. While some buyers purchase a new car on impulse, others wait for the right moment to do so. The end of the year, in the opinion of many, is the ideal time to purchase a new vehicle.
This is somewhat correct! The fact is that most popular car brands give out major discount offers in December to clear their allocations for the year and start afresh in the next calendar year. Such deals include a variety of offers including cash discounts, extended warranties and free accessories. Know more reasons why year-end is the best time to buy a car:
Automakers often clear their inventories at the end of every year; their goal is to sell all the models produced in the calendar year before the start of a new year. This allows the automakers to make space for new models that roll out during New Year. Once the new models enter, the outdated models barely get sold.
Therefore, automobile companies offer such models at amazing deals, cash discounts, a range of free accessories, and extended warranties. By purchasing a new car model during the year-end, you can avail exciting offers.
Better Negotiation Exchange Value
Exchanging your car during the end of the year to get the best rates on your new car and also save some extra. The reason behind this is when you go for an exchange, the dealer offers you an additional bonus that helps you save more money than outright selling it in the outside market.
Chance to Beat Inflation
At the beginning of every year, all automobile manufacturers virtually hike the prices of cars due to inflation. This causes a rise in input costs, making car prices soar high. Manufacturers are smart enough to realize this and use it as their sales pitch. So, if you are not crazy about the latest technology, finalize your deal at the end of the year.
Frequently Asked Questions
Which is the best month to buy a new car in India?
Generally, year-end is considered the best time to purchase a new car. From October to December, automakers offer deals and discounts to clear their allocations for the year and start afresh in the next calendar year.
Should I buy a new car in December or wait for the New Year?
Buying a new car in December would be the smartest choice. During this time, dealers give out exciting offers including cash discounts, extended warranties and free accessories.
How much can I negotiate when purchasing a new car?
The negotiation part totally depends on the popularity of the car model. If the model is new in the market, the dealer will probably offer a 1-5% discount only. In case your desired model is a slow seller, the negotiation can go up to a 10-15% discount.
Read Also: How to Buy a New Car and Get a Great Deal