By Vanessa B
When it comes to big life expenses, your house and your car are at the top of the list. These are two monumentally expensive things to fork out for, and you can only do so when you’re in a position in your life that makes you ready to take them on.
And we could talk all day about when the best time to buy a house is, but we need to pay a little more attention to just how difficult it can be to get your hands on a car when you’re just not ready for the expense! Of course, there’s going to be a different ‘right time’ for every single person out there, but in general, if you follow the points below, you’ll be able to determine the best time for buying a car.
The General Seasonal Rules
As with most things in life, the demand for cars goes up and down throughout the year, and that means the price point can fluctuate from time to time. If you know what the best time of year to go car shopping is, you’re much more likely to get a deal that you’re both happy to pay, and in fact, saves you some money.
So when should you shop? Well, for most people, the later summer months are a good time to buy a car, both new and used. Dealers want to clear out their lots for the influx of used cars that are coming their way, thanks to just how many new cars tend to release at this time. Simply put, try to shop when the sun is out!
The Effect of the Pandemic
The pandemic has made us car-crazy! People want their own, reliable transport more than ever before, and that has driven sales of second-hand cars up all over the world, but particularly in the Western Hemisphere. And because of this, it’s a good time to consider what you need a new car for, and if you need one at all right now.
Because right now you’re unlikely to get the deal you wanted on that used model down the local dealership, simply because affordable cars are in high demand. And you want to always be working within your budget when it comes to car buying – that might just be impossible right now, and even a financing option might be too much for you to manage in the near future.
Considering Your Own Budget
Finally, always think about how well you’re doing financially. You should never spend on a variable life expense if you’re in debt, for example, and you’ll have much more room to get the car you want if you wait to pay off any loans.
The right time to buy a car all depends on how your budget looks at the moment, what time of year it is, and what’s going on in the world currently. Keep these factors in mind before you hit the dealership yourself.