Cars are expensive and so; it is always great to obtain discounts. If you are searching for discounted car prices, December is the right time for buying a car. Understand why dealers are willing to provide huge discounts at the end of the year.
“The right thing at wrong time is a wrong thing.” - Joshua Harris, Writer
Buying a car is a huge financial commitment. So, it is important that you buy a car at the right time. If you make a car purchase at the right time, you will be able to save hundreds of dollars. So, what is the right time for buying a car?
The last few days of the year are usually the best days to make a car purchase. It is because dealers provide huge discounts on car prices in the month of December. They want to sell as many cars as possible because of the following reasons:
• The Clearing-Out Phenomenon
Many car manufacturers introduce newer car models at the beginning of the year. So, dealers have to clear out the current year’s models in order to accommodate next year’s models.
• Increase Revenue
Usually, the fiscal year of dealers is the same as a calendar year. So, they want to sell as many cars are possible to boost their revenue.
• Floor Plan Financing
It is a type of revolving line of credit that allows the dealer to obtain money by using car as collateral. Dealers want to sell maximum cars so that; they can pay-off the loan amount and buy next year’s car models.
• Manufacturer Incentives
Dealers can sell cars at discounted rates because many car manufacturers offer incentives to dealers for selling the current year’s car models.
• Holidays
People get tired of holiday shopping and don’t believe in shopping for a car in December. Also, many people take advantage of the holidays and go on vacations. It is for this reason that dealership lots are usually empty in the last few days of the year.
So, if you go to the dealership lot during this time, you will get the salesman’s undivided attention because he will be eager to make a sale in the slack season. So, these are the reasons why buying a car in December is beneficial for you and your financial situation.
Auto Loan Program for your New Car
Once you decide that you want to buy a car in December, it is important to obtain auto loan program. There are many online auto financing companies that will provide quick auto loan quotes, unlike traditional banks that are closed for the holiday season.
So, search for a reputed online company and submit your loan requirements on its secure website. The company will understand your loan requirements and offer you instant quotes. If you think that the loan quote suits you, you can accept it and buy a car of your choice.
So, don’t wait anymore for buying a car. December is the right time for bringing home your favorite car. Take advantage of year-end prices and quick auto loan approval from online companies to buy a car.
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