Best Time to Buy a Car
Are you waiting for the best time to buy a car? Do you know when that time is? The answer is summer. Car dealerships tend to get very busy during the summer months because the new models have just been released and the public is eager to buy.
This is the prime time for dealerships to use marketing tools and new car incentives to move the older models off their lots. Dealerships will use eye-catching promotions such as "cash rebates" or "0.0% financing rates". What you as the consumer need to be aware of is that there are many potholes in the road that you will encounter. Cash rebates or zero financing may be a situation you don't even qualify for.
A dealership is the easiest way to get financing, especially in the summer months when consumers feel it is the best time to buy a car, but keep in mind that the dealership is only "arranging" financing for you; they are not loaning you the money themselves.
Dealerships know that the average rate to finance a car is around 7 to 8 percent. By offering zero percent financing it is a slam dunk that you're ready to deal. The fact is, 40% of the consumers that enter the dealership do not qualify for any advertised promotions and will end up paying normal interest rates.
After the cold winter, summer gets people primed. After all, it is the best time to buy a car so live a little. Great idea, if it is an informed and economically smart decision. Summer is the best time for dealerships to make money - don't make your summer the best time to lose money. Never make a financial decision on a whim, especially when it is a major purchase like an automobile.
Enjoy summer! Buy that car of your dreams. Just don't let your dreams be shattered by a dealer who wants you to drive off the lot with your money in his pocket.
This is the prime time for dealerships to use marketing tools and new car incentives to move the older models off their lots. Dealerships will use eye-catching promotions such as "cash rebates" or "0.0% financing rates". What you as the consumer need to be aware of is that there are many potholes in the road that you will encounter. Cash rebates or zero financing may be a situation you don't even qualify for.
A dealership is the easiest way to get financing, especially in the summer months when consumers feel it is the best time to buy a car, but keep in mind that the dealership is only "arranging" financing for you; they are not loaning you the money themselves.
Dealerships know that the average rate to finance a car is around 7 to 8 percent. By offering zero percent financing it is a slam dunk that you're ready to deal. The fact is, 40% of the consumers that enter the dealership do not qualify for any advertised promotions and will end up paying normal interest rates.
After the cold winter, summer gets people primed. After all, it is the best time to buy a car so live a little. Great idea, if it is an informed and economically smart decision. Summer is the best time for dealerships to make money - don't make your summer the best time to lose money. Never make a financial decision on a whim, especially when it is a major purchase like an automobile.
Enjoy summer! Buy that car of your dreams. Just don't let your dreams be shattered by a dealer who wants you to drive off the lot with your money in his pocket.