Almost every car dealership commercial seems to end with the phrase “now is a great time to buy.” This vague proclamation doesn’t really help the buyer, as they don’t really know why it’s a good time to make a purchase.
According to Cars.com, right now really is a good time to buy a car because of several factors. The news source always recommends buying at the end of the month, because dealerships total their sales volume on a monthly basis. Almost all dealers offer their salesmen incentives, in addition to their regular commission, in order to drive sales.
It stands to reason that if a salesman is one or two cars shy of hitting that bonus total for cars sold in a month, he’ll be a bit more flexible with the numbers. Normally, salesmen take a percentage of every sale, so they’re motivated to drive the price higher and higher. But if a few percentage points or added fees are all that’s standing between the seller and a big bonus check, they’ll be willing to let a few things slide.
Some months are better for buying than others, and the news source says that October is a great month. That’s because many automakers are introducing new 2011 models and looking to get rid of the 2010 cars. If a driver doesn’t care about being in the latest model, that could mean significant savings.
With these two factors combined, these last few days of October are a good time to fill out a bad credit auto loan application and get on the lot.