Right now is the best time of the year to buy a new car
This fall the average price of gas will drop below $2 a gallon, per GasBuddy predictions. But that isn’t the only thing making driving more affordable. Car dealers have been dropping prices on their new cars this September, making it the best month for you to make a move on the model you want.
Soft auto sales leave consumers in the driver’s seat
September is typically a good month to buy a new car because a lot of new models make their debuts in the fall season. Having to make room for the 2017 models means getting rid of the leftover 2016s and 2015s. But auto sales have been softer than expected this year, leaving consumers in the driver’s seat.
“August wasn’t a great month for sales as demand appears to be tapering off. Plus, there are signs we won’t top last year’s record sales, down more than 5% year over year,” said Vera Gibbons, a Gasbuddy correspondent.
The added pressure to sell means more incentives for consumers in the form of 0% financing for qualified buyers, cash back rebates, and bonus cash. Gibbons says these incentives are being offered at record-high levels.
Year-end sales are juicy but inventory will be limited
Deals can, of course, get even juicier toward the end of the year. But the benefit of buying now is that you’ll have a better chance of getting the specific make/model/color/trim features that you want because year-end inventory will be more limited.
Shop the last three days of the month
You can save even more if you shop the last few days of the month. Salespeople looking to hit their monthly quotas are desperate to make a deal before the month’s end. “If they reach certain sales targets, like 25 cars, they are paid a higher commission on every car they sold that month,” said Gibbons.
Jeanie Ahn is a reporter and producer at Yahoo Finance focusing on family finances and career advancement. Follow her on Twitter @jeanie531.
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