Find out when SUVs come down in price
Have you ever wanted
to own a sport utility vehicle (SUV)? Marking certain days or months on your calendar may help you find the best deal. It turns out that if you purchase an SUV during specific times of the year, you may pay less than if you bought it during other months.
Here are some of the best times to save on your SUV purchase:
Winter
December and January offer some of the highest discounts when purchasing an SUV (an average of 6.6 percent), according to TrueCar, an automotive pricing and information website. Since SUVs are normally considered a summertime vehicle for those who want to hit the trails and head outdoors, the winter season sometimes brings better discounts as there aren’t many people willing to make that purchase in the winter. In addition, it’s early winter when dealers are trying to get rid of the previous year’s models, so they’re more willing to lower the purchase price as fall turns to winter.
Late summer
Because August is the time when new models come in, this is also considered a time when dealers are willing to initiate a bargain. The caveat: Buying during summer’s end means you should be okay with owning an SUV that isn’t necessarily the newest model.
End of the year
If you can afford to wait until the end of the calendar year, you’re bound to get the best possible price on your vehicle. Most dealers need to meet annual quotas, and if they haven’t done so, they’ll be more willing to strike up a bargain with you. Another reason to buy at the end of the year is because annual sales bonuses are common around this time, and car dealers are more willing to reduce prices to sell more.
Tuesday or Wednesday
While this seems fairly specific, an expert from www.autocheatsheet.com, written by a dealership professional recommends Tuesday or Wednesday on any given week. “Tuesday and Wednesday are normally the slowest times of the week for a car dealership. Most people work during the week and do not normally shop for cars. This makes business slow and traffic on the dealer’s lot scarce. I did whatever it took to sell a car when a customer showed up in the middle of the week. This is why I recommend Tuesday and Wednesday as the best times of the week to buy a car.”
Whatever you’re looking for, make sure you do your research and are comfortable with how much you want to spend. Your local financial institution usually has excellent rates and can help with the financing so stop by today with any questions.
Used with Permission. Published by IMN Bank Adviser Includes copyrighted material of IMakeNews, Inc. and its suppliers.