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Learn The Best Times To Get A Deal On Your Next Car

When Is The Best Time To Buy A Car?

If you are in the market for a new or used car, there are some tips that will help you know when to buy. We have compiled a list of the most helpful advice below to give you the best shot at finding that perfect deal on the car of your dreams.

New Cars

Buying a new car is exciting. You are bombarded what cool gadgets, shiny dashboards and smiling salespeople. All these things are designed to entice you and sell you quickly, but it may be worth waiting to make your purchase. Car dealers often have sales targets that include incentives. According to Auto Express, the biggest bonuses are usually handed out at the end of each quarter. That means salespeople are more motivated to make deals right before the end of a quarter. Quarters start in March, June, September and December so just before these months is the best time to get a deal. 

There is also pressure to sell at the end of the financial year so shopping just before April can also put you in a better position to negotiate a deal. 

Another trick when buying a new car is to look for models that are about to be replaced. For example, if ford is coming out with a new version of their fiesta, dealers will be looking to get rid of the old version as they want the room to show the newer model on their lot. 

For this tactic, remember that the dealer will be most interested in selling the cars they already have on-site. If you order a car from the factory, they will have less of an incentive to give you a deal. 

Finally, look into pre-registered cars. These are cars that the dealer has bought themselves to help meet targets. Dealers then keep these cars for 3 months before selling them. If you are willing to purchase a preregistered car you could save a lot of money. The best timeless to look for preregistered cars are in June and December. You can learn more about pre-registered cars here. 

Used Cars

If you are looking to buy a used car, your timing is less important but there are still some times of year that are better than others. When dealers release their new models, people are more likely to trade in their old cars. This means new model release dates coincide with an increase in the number of used cars available. March and September are when new cars usually arrive on dealers lots. You will have more choices and potentially better deals just after these times. 

Another thing that can affect used car prices is the weather. A long period of bad weather can drive customers away from buying a car. After all, who wants to wander around outside looking at cars in the wind and the rain? Long periods of good weather can also drive down sales because people are more likely to want to get out and enjoy their day rather than look at cars. 

Our final tip is to pick up your used car early in the month. Remember that you have to pay for a full month of road tax even if you only have the car for a few days in any given month. That means you waste less on your first month of ownership. 

If you are interested in more tips on saving money for your car, why not check out our blog on increasing your fuel economy. Over the lifetime of your car, this can save you thousands and help prevent other issues. 

Posted in Saving on Jan 26, 2022.

Representative Example: Borrowing £3,000 over 24 months at an interest rate of 71.3% p.a. (fixed), you will repay 24 monthly payments of £238 per month. Interest Payable £2,706. Total Repayable £5,706. Representative 99.9% APR.

Jason Bovington - COO

Jason BovingtonJason became Chief Operating Officer in July 2022. He joined Everyday Loans initially in 2006 as part of the start up team implementing the credit risk strategy and building the analytical capability as Head of Credit Risk and Analytics. In his time with Everyday Loans he has also held the roles of Chief Risk Officer and Chief Credit Officer. Prior to joining Everyday Loans Jason spent 10 years at HFC Bank with his last role there being Credit Risk Director and prior to that he was part of the Credit Risk team at Lloyds TSB.