Best Time To Buy A New Car – Image via thechronicleherald.ca
Best Time To Buy A New Car – If you are in the market for a new car, your time is important, according to the Better Business Bureau.
“The best time of the month to buy a car is always at the end of the month because sales people are trying to meet their quota,” Paula Fleming from BBB explained.
But before you reach the parking lot, Fleming says it’s important to do online shopping.
“Do some research, be prepared.know what you’re looking for,” Fleming said. “Comparing shopping, what’s the value of the various dealers around here? Is the dealer reliable, credible, and ethical?”
According to the Federal Trade Commission (FTC), car dealers are often willing to bid on their profit margins, sometimes between 10 and 20 percent. The FTC says that it is usually the difference between MSRP, the manufacturer’s suggested retail price, and the invoice price, which is the manufacturer’s initial cost to the dealer.
Once you are armed with information and you have a budget in mind, you are ready to go to the dealer.
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“If you’re not happy with the sales staff when you’re signed in, ask another sales person,” Fleming said. “Everyone is always thinking about the car process, the car purchase or the leasing process as negative.We really want to change that.This can be a fun experience.”
If you plan to trade your old vehicle, the FTC says that you should only discuss the deal with the sales staff once you negotiate the best price for your new car. Although it will require a bit of leg work, the FTC says you will probably make more money if you sell your old car yourself.