It might seem unreasonable to make a large investment right after the holidays, but January is a golden opportunity for car buyers. Even if you’re not ready to make a vehicle purchase in early 2017, you should still understand what makes January the prime month to buy.
1. Slow Month for Retail
Many consumers tighten their belts to start the New Year off on the right foot and recover from holiday spending. Disposable income goes towards smaller purchases, while more expensive purchases, like cars, get pushed out for a few months.
As demand for expensive merchandise goes down, so does the cost. And since January is a slow month, salespeople at car dealerships will be eager to close deals and meet their quotas, so it’s a buyers’ market and you have all the leverage.
2. Luxury Deals
The trends that identify January as a slow retail month particularly apply to luxury vehicles. With spending down after Christmas, luxury brands and top-of-the-line models are the hardest to sell.
If you’re in the market for a flashy or summertime car – something red or with a sunroof –winter is the prime time to invest buy it. End-of-year deals that roll over into the New Year might enable you to get your dream car on clearance.
3. Outgoing Models
While the model year rolls over in the fall, most consumers think of vehicles in terms of calendar year. Any 2016 cars still on the lot in January 2017 need to sell fast so deals see a return on their investment, which means buyers get a huge savings off the MSRP.
4. Other Tips
When purchasing a car in January, the time of day and day of the week you’re shopping can make a difference, too. Avoid busy weekends, and shop for your car between 4pm and 8pm on a week day.
No matter when you shop for a new vehicle, come to the dealership with an amount in mind you can afford to spend and some specific idea of what you want in terms of vehicle type and upgrades. Regardless of how great a deal you can get, it’s not worth it if it’s more than you can reasonably spend.
To set up a maintenance schedule for your new ride, stop by a Levin Tire location in Northwest Indiana today!