Whilst there are two peak periods in a year when new car buying activity really takes off (ie; March and September), there are five periods in the ‘car buying calendar’ that car shoppers should consider if they are planning to buy a car. There are five periods across the year that car shoppers should consider.
1. Last week of the month – OK, so this might be 12 separate times throughout the year rather than just the one, but this is often a good time to find a good deal. The reason for this is that dealers and salespeople have monthly and quarterly targets and these are based on volume, so they want to move volume. Even better, if you manage to find a dealer that is close to their target then you might get a very good deal indeed!
2. First two weeks in January – After the expense of the fun and frivolities of the Christmas period, as is the case with the slow down that occurs within the summer, spending by the general public grinds to a halt! This is why many high street stores run their January sales so that they can get rid of overstock and to also stimulate shopping. Car sales are no different. There can be some real bargains in early January. Therefore, if you can plan and put money aside throughout the year and then go out in early January to look for a car, the salespeople will not only give you more attention as there are less people buying cars in general, but you’re also likely to receive greater discounts as the dealer
3. End of February – new registration plates are brought out twice a year and prior to the release of the new plates dealers up and down the country try to sell as many cars as possible to obtain their bonuses from manufacturers for selling a certain number of cars and also to make way for new the cars with the first of two periods is 1 March 2010. This means that the month of February is a good time for buying new cars.
4. End of August – this is even bigger month for car sales than March because it is when the manufacturers issue the new models alongside the new car registration plates. Consequently, dealers are keen to move the older models that have an older plate. This is especially the case with models that are being discontinued. In such cases the dealers are very keen to get rid of them and will sometimes offer great deals. The great deals might be off the ‘On the road price’ or in the form of cheap monthly car finance packages. This car finance might be in the form of car leasing or hire purchase.
5. Summer – when the warm weather and school holidays arrive, people spend less on retail and this is the same with car buying. People are too busy spending money on holidays and want to enjoy their breaks and the number of people walking into forecourts drops significantly. Consequently, like the retailers dealerships often run specials promotions in the form of car leasing, free road tax and servicing and other offers. Therefore, the summer can be a good time to buy.