It may be conventional wisdom, but the last week of the year is probably one of the best times to buy a new car, industry experts say.
According to Forbes.com, many dealerships are eager to reach year-end sales goals and are willing to offer deals.
That’s especially true for luxury cars, Forbes reports, given that high-dollar vehicles wrapped in big red bows are a perennial December favorite for the affluent set.
It’s also a great time to shop for a pre-owned car, said Donald Bond of Kingwood, who co-hosts “CarTime TV” with his identical twin brother, Ward Bond of Houston, and nephew, Sterling Bond.
“With people in oil and gas getting laid off, they’re turning in (car) leases early,” Donald Bond said Tuesday. “Dealers want to deal. They were dealing in November.”
Bond said he advises people who are interested in a particular vehicle to ask the dealer how long it’s been on the lot.
“At that point, there are deals to be made,” he said. “Get your research done first before you go to the dealership so you can get the best deal possible, especially in slow months.”
Auto Trader concurs that, in general, the hype about year-end deals is true. One reason is that cold weather is a deterrent to browsing outdoor car lots in many parts of the country, and another is that most people have spent their extra cash on the holidays. Also, dealers want to move their stock.