“The waiting game” is the least exciting way to pass the time, but if you’re looking to get a good deal on a new car, then you’re going to have to be patient.
Many people don’t realize that carefully choosing when to buy your car can save you quite a bit of money. Well timed car purchases could save you thousands of dollars, if you play it just right. Here are a few tips to help you net that car you want – all while saving some precious money.
The Numbers Games
Dealerships and automakers award successful sales staff with money or perks for moving a certain number of vehicles during a given time period.
Steve Emery, a consultant from the National Automobile Dealers Association explains that incentives can come from the automaker or within the dealership. Those issued by the automaker, are usually annually or quarterly, although monthly sales goals aren’t uncommon either. Then each dealership has their own incentive program for their sales managers and sales staff. “They’re like contests and can take place over a month,” he says. “The incentives for the sales staff works in a stepped manner- if you sell 10 cars you get a $500 dollar bonus all the way up to, let’s say 15 cars gets you $1,000.”
Emery advises buyers to visit dealerships at the end of the month in order to gauge how hungry the dealership is to make a deal. If the salesperson is desperate to hit their target that month or quarter they may offer a few discounts, or forgo the usual lengthy process and headache when it comes to buying a new car.