When is the best time to buy a car?

4 minute read Published on Nov 23, 2020 by BrokerLink Communications

When is the best time to buy a car?

When you decide to buy a car, you’ve already made a huge life choice! There are many different reasons for buying a car, like the need for wheels to get you to school or work, a more reliable vehicle for road trips or a larger vehicle for your growing family. While the decision itself is a major one, doing your research including timing, can save you hundreds or thousands of dollars. Luckily, we’re here to guide you through this important time in your life to help you get a great deal!

When is the best time of year to buy a car?

Now that you’re car shopping and have a make and model in mind, it’s time to get that deal! Shopping in December, or near the end of the year is the best time to get a great price on your dream car. The reason that this is the best time of year for car shopping is that car dealers usually offer discounts during December or in the last few months of the year. They do this to clear current year model inventory to make way for next year’s models.

Although year-end is a good time to shop, be aware that your options may be limited to soon-to-be previous year models. If you want the latest model of your vehicle of choice, you might not get what you want.

When is the best time of month to buy a car?

Usually the end of the month is the best time to buy a car, but not always! Car dealers are often pressured to meet a monthly quota and sometimes sell cars at a discount so they can meet their monthly sales. However, be aware that this doesn’t always happen. Some car dealers hit their quotas early in the month, so they don’t feel the pressure to offer discounts at month end. Car dealers may also offer end of the quarter discounts because instead of monthly quotas, they have quarterly quotas.

When is the best time of day to buy a car?

You have the best bet at getting a discount on your vehicle if you wait until the end of the day to shop for your car. Car salespeople are human and may be tired towards the end of the day or are ready to get home to their families, so they’ll be ready to make a quick sale and give you a good price!

Timing can be everything when buying a car, but when you do decide to buy one, don’t forget to get car insurance too. Talk to BrokerLink now for options.

Here are some other things to considerations when you’re buying a car:

You can time your purchase just before the new generation will be released and then buy the previous model, which will likely be available at a huge discount!

Slow sales months, like in the fall or winter, can mean discounted deals for you! Because car dealers are experiencing fewer sales, they may be more likely to offer incentives for car buyers during slow sales months.

Talk to one of our BrokerLink experts if you’re thinking of buying a car

BrokerLink takes the guesswork out of buying and renewing insurance. Our expert insurance advisors can help you with any questions you may have when buying a car. We have decades of experience when it comes to offering the right insurance coverage. Get an instant quote, or contact one of our community branches.

FAQs on when is the best time to buy a car:

When is the best time to buy a used car?

You might have more luck buying a car at the end of the year, end of the month and end of the day. With a little luck on your side, you have a good chance at an incredible deal.

I’m not driving the car, I’m just the one buying it -- do I need to get car insurance?

Even if your car is sitting in your garage or on your property, car insurance can help protect your investment. Without insurance, your car is at risk of being damaged in natural disasters, like hail storms, hurricanes, wild fires or tornados. Insurance can also protect your vehicle in the event of a break-in or vandalism. At the end of the day, if you want to be protect your asset, make sure you’re insured.

Can a tourist buy a car in Canada?

Yes! It is legal for a tourist to purchase a vehicle in Canada, however, insuring the vehicle is a different story. In Ontario and Alberta, you can use an international or out-of-country driver’s license to insure your vehicle, while other provinces may have different requirements. Make sure you check with a BrokerLink insurance advisor to ensure you’re covered while visiting Canada.

For more FAQs, visit the BrokerLink FAQs page.