Buying the Right Car at the Right Time
Everyone is familiar with the popular phrase, “Timing is everything.” This phrase has become well known partly because it is applicable in nearly every circumstance and situation. Making the right decision, no matter what that decision is, requires an element of appropriate timing. This principle certainly applies to the process of buying a new car. Finding your perfect vehicle requires more than just saving money and doing research. While there is no secret formula that can help you find the perfect car at the perfect moment, here are some tips that can help you time your next automobile purchase correctly.
Know What You Want
Imagine how much time is wasted when you go car shopping without a clear idea of the kind of vehicle you want. Do your research beforehand to be sure that you’re ready to buy when the right moment arrives. Research your options beforehand to narrow down the selection you need to choose from. If you need a vehicle that carries seven passengers, has good fuel economy, and has exceptional safety features, then you need to know which set of wheels meet or exceed your criteria. Being an informed buyer gives you the upper hand when it comes to timing.
Have a Budget
Knowing how much vehicle you can afford can really help to improve your chances of finding the right car at the right time. More importantly, you need to have that financing lined up so that you can act quickly when the time comes. If you are not paying cash, then you need to know what to expect as far as financing and leasing. It is a good idea to allocate no more than 20 percent of your take-home monthly income for financing/leasing and insurance costs. When planning your budget, don’t forget to include the cost of ownership.
Time Your Visit
Historically, waiting until the end of the year has helped people to save big on their vehicle purchases, but that is not the only good time to purchase a car. Going to a car dealer at the end of the month or quarter, during the early part of the week, and towards the end of the workday can sometimes work in your favor. Those are the times when you can get more personal attention, have a better shopping experience, and have the salesperson at your mercy, as he or she will be more likely to negotiate and help you find the right vehicle for your needs. If you’re in the market for a new late-model vehicle, you’re better off waiting until the end of the year when the new models are on the lot.
Rest and Eat First
Car shopping when you are tired, hungry, or sick is a surefire way to get a bad deal, as that is when you are least likely to make good decisions and to negotiate effectively. When making important decisions, it’s crucial to allow enough time to research, think, and ask questions.
Shopping for a vehicle doesn’t have to be a long and confusing process. Don’t worry about searching for that magic formula to help you time your decision. By timing your visit to the car dealership and remaining persistent, you’ll be able to find the best car for your needs and your financial situation.