With the changing of the seasons come the many questions we ask ourselves: “Is it too early to grill outside?” “Should I finally get at those gutters?” “What should I plant this year?” And, of course, “Is it time to buy a new car?” While we’ve got no word on your gutters or your seasonal grilling, we can tell you that spring is an excellent time to get a new car … provided it’s the right time for you.
Winter Showers Bring Spring Deals
First off, from a dealer perspective, spring is an ideal time to buy a car. It’s essentially right in the middle of the model year for many dealers; they’ll have the most stock available for every kind of car. No matter what you’re looking for, you’ll be able to buy it.
More importantly, though, it’s the best time to approach dealers from a financial perspective. Spring is when dealers need to start figuring out their year in detail; whether it’s going to be a year of rising profits or whether they need to tighten their belts depends heavily on spring sales. As a result, they tend to focus heavily on incentives in the spring to get stock moving and to get customers onto lots.
That said, there are a few drawbacks. The simplest is that it’s tax refund season, so there are plenty of customers out and about. You’ll have less of an edge in the overall negotiations than you might otherwise, since salespeople know they’ll have plenty of buyers. They may also reduce the dollar value of incentives. Still, you should be less concerned with the dealer and more concerned about whether the timing of a new car is right for you.
A Time Of Fiscal Renewal
When shopping for a new car, you should first look at your finances. What can you comfortably afford in your budget for a monthly payment? How much is your car worth as a trade-in, if you have one? What type and style of car do you need, and how long do you need it to last? Before you step inside any dealership in the spring, get your finances in order and know exactly what you can afford and what you want. If your tax return comes in, you may want to set it aside as a down payment.
Second, remember that you don’t have to finance through the dealer, and in fact you can often find better deals on car loans away from the dealerships and main finance arm of the manufacturers. You should submit an application to as many dealers as possible to get the most quotes and find the best possible financing. It’s easy to forget that we buy a car’s financing just like we purchase a car, and that comparison shopping finds you the best price on both.
By checking your fiscal state first, you’ll be able to buy a car with confidence in the spring. And, even better, you’ll be able to enjoy it knowing you got the best deal!