6 Major Benefits of Buying a Vehicle at the End of the Year

We all want to save as much money as we can when we buy a new or pre-owned vehicle, but getting a great deal usually involves days or even weeks of shopping around and hours of grueling negotiations. If you want to take thousands of dollars off the price of the vehicle you are interested in without driving from dealer to dealer and poring over figures, you could just delay your purchase until the end of the year. The holiday season is a time of celebration and giving, and it is also a great time to score an amazing deal on a new or used car or truck. Here are six major benefits of buying a vehicle at the end of the year.

1. Salesperson Bonuses

Auto salespeople and sales managers make a lot of their money through bonuses, and the bonuses they receive for hitting their annual objectives can be generous. If you visit a dealer to buy a car at the end of the year, the salesperson and manager you deal with could be very motivated to make a deal.

2. The Dealer Needs Your Business

Car dealers sell the most vehicles when the weather is good and people have money to spend. During the holiday season, dealers struggle to make deals because they know they can’t compete with Santa Claus. If you walk through a showroom door when most people are out doing their holiday shopping, you will probably receive a very warm welcome.

3. Factory Incentives

Car manufacturers know that their dealers struggle to make ends meet in December because few people are out buying cars, so they often offer generous rebates or attractive financing terms to lure customers into showrooms. This means that the car you are interested in could be a lot more expensive in January or February than it is at the end of the year.

4. Banks Are Quiet Too

Banks are as quiet as dealers ate the end of the year, which is good news because loan officers get end-of-year bonuses just like car salespeople. If you will need to take out a loan to pay for a new or pre-owned vehicle, you may find lenders are more willing to extend credit at the end of the year.

5. Attractive Lease Deals

Businesses can lower their tax bills when they lease depreciating assets before the end of the year, and motor vehicles are depreciating assets. Car manufacturers attract business customers in December by offering attractive lease deals with low monthly payments, no down payments and options to buy, but you don’t have to own a company to take advantage of them.

6. You Will Have Time to Build a Relationship

Most people hate buying cars because they feel like a fish out of water when they walk into a showroom. You won’t feel that way if you have a relationship with a dealer that provides excellent service, so you should buy your next car when business is slow. Doing this will give you a chance to meet everybody and build rapport, and that could make your future visits a lot more enjoyable.