I am planning on buying a new car in 2006 and am leaning toward a Honda Accord. I'll have the funds ready to go in early Spring, around March. Is that a good time or terrible time to buy a car? I remember seeing lots of promotional deals around the end of the summer, but not so many around the time of year when I'll be in the market. Any thoughts?
Also, it's been a decade since I was last in a car showroom, so I'd appreciate any advice. I'm probably paying cash so I expect that should (?) give me a bit more leverage. Yes? No?
Full Version: Good time to buy a car?
I'm also planning on buying a car in early 2006. I have to get it financed through my credit union but I'll be able to put down a hefty down payment so hopefully my monthly payments will be super low. From what I found out - it is always better to buy at the end of the month when salespeople are trying to meet their quotas. The summer promotions are a push to get rid the 2005 cars to make room for the 2006 models that came in this past autumn so if you can find a 2005 in March you probably would get a great deal. By March the 2006 models would be out for about 6 months so it should still be a better price than back in October.
My next door neighbor just bought a 2005 Audi A4 and paid cash. He wanted to charge the whole thing and get the airplane miles but they only allowed him to charge $5,000.00 and pay the rest cash. He said the salespeople don't like it when customers pay cash because they make a lot of their money on the financing so I'm not sure how much leverage that will give you. I also heard that the Hondas and Toyotas tend to keep their value when you drive them off the lot so they will have a good trade in value when the time comes.
If anyone has any other suggestions I am also in need of advice. Also, if someone knows if what I've said is incorrect please acknowledge so.
My next door neighbor just bought a 2005 Audi A4 and paid cash. He wanted to charge the whole thing and get the airplane miles but they only allowed him to charge $5,000.00 and pay the rest cash. He said the salespeople don't like it when customers pay cash because they make a lot of their money on the financing so I'm not sure how much leverage that will give you. I also heard that the Hondas and Toyotas tend to keep their value when you drive them off the lot so they will have a good trade in value when the time comes.
If anyone has any other suggestions I am also in need of advice. Also, if someone knows if what I've said is incorrect please acknowledge so.
When you are getting ready to buy the car, don't even bother going into the show room or the "retail" side of the business. Call up your local dealer and speak to someone in the Fleet Dept or Internet Dept.
Their job is not to make money on the units they sell, just to move cars off the lot. You will get a very good deal on any car you want, provided it's not in high demand, which an Accord won't be. They will tell you the pricing over the phone and you can be in and out in an hour or so.
Simply the best way to buy a car then spend your whole day negotiating a deal that won't be any better in the long run.
As for the end of the month, that is a good time to buy a car on the retail side, but it only applies if the dealer hasn't already met their goal. If they have, you won't be getting any special treatment and the hard part of this is to know if they have or haven't met their sales goals already.
BTW, the months of March, April and May are good selling months since most people get their tax refunds during this time.
Their job is not to make money on the units they sell, just to move cars off the lot. You will get a very good deal on any car you want, provided it's not in high demand, which an Accord won't be. They will tell you the pricing over the phone and you can be in and out in an hour or so.
Simply the best way to buy a car then spend your whole day negotiating a deal that won't be any better in the long run.
As for the end of the month, that is a good time to buy a car on the retail side, but it only applies if the dealer hasn't already met their goal. If they have, you won't be getting any special treatment and the hard part of this is to know if they have or haven't met their sales goals already.
BTW, the months of March, April and May are good selling months since most people get their tax refunds during this time.
QUOTE
aquaman:
I am planning on buying a new car in 2006 and am leaning toward a Honda Accord. I'll have the funds ready to go in early Spring, around March. Is that a good time or terrible time to buy a car? I remember seeing lots of promotional deals around the end of the summer, but not so many around the time of year when I'll be in the market. Any thoughts?
Also, it's been a decade since I was last in a car showroom, so I'd appreciate any advice. I'm probably paying cash so I expect that should (?) give me a bit more leverage. Yes? No?
Thoughts:I am planning on buying a new car in 2006 and am leaning toward a Honda Accord. I'll have the funds ready to go in early Spring, around March. Is that a good time or terrible time to buy a car? I remember seeing lots of promotional deals around the end of the summer, but not so many around the time of year when I'll be in the market. Any thoughts?
Also, it's been a decade since I was last in a car showroom, so I'd appreciate any advice. I'm probably paying cash so I expect that should (?) give me a bit more leverage. Yes? No?
What do you need a car for? Do you plan on doing most of your driving back and forth to work in the City, or driving to a remote cabin for pleasure?
Gas prices will go up again eventually.
What can you afford without seriously affecting you budget and savings plans? Would a smaller car suffice?
Do your homework on the internet and at consumer reports before you even set foot in a showroom.
Try to rent the car you eventually choose for a weekend - see if you really like driving it for a couple days rather than for a 15 minute test drive.
Rob
I second the do your homework. I bought a new car, Toyota Corolla, over Labor Day. Consumer Reports is a good place to start. You can, for a modest fee, look up any car you are interested in and do side by side comparisons. Others sites like cars.com, kellybb.com and cartalk.com may be helpful. Then, narrow it down to 2 or at most 3 models and start emailing dealers. Email is better than phone because you have something in writing. Tell them what you are considering, list the features you want (Consumer Reports is good on that) and ask for quotes. Get several quotes in writing.
It's best not to say you are only looking at one model (even if that is true) since that weakens your bargaining position. I had decided on Corolla but said I was looking at Camry and even test drove one so as not to lock myself up.
Be prepared to spend the better part of the day at the dealership. Do NOT be pressured. If someone tries to get you to accept what you don't want or sign fast, leave and go elsewhere.
Read everything, even if they say not to (the really jerky sexist finance manager told me not to read the contract because I was supposedly incapable of understanding it; he got a full blast).
It's a good idea to bring a car-savvy friend or relative or coworker, if you know one. My neighbor's son got me $250 knocked off the agreed upon price.
LOOK at the car before you leave. If there is a problem, it's your problem once it's out of the lot. Make sure the tank is full; that's the one thing I did not do and with gas prices sky high it cost over $30 to fill the little Toyota Corolla tank. (I did write to them and got a free tank later.)
Get business cards of everyone whom you talk to, salesman, finance manager, anyone else. So you have names if there is a question/problem.
If you can pay in total, obviously you save. If you can't, see if there is a credit union at your workplace, it may have better financial terms than the dealer. At any rate, pay down the maximum you can.
Buy on need, not what is sexy or popular. Needs of course vary from person to person. For myself, I have a long commute, I'm single with no children and I'm no mechanic, so a Corolla, small, good mileage, reliable, was a prime choice.
Hope this helps.
It's best not to say you are only looking at one model (even if that is true) since that weakens your bargaining position. I had decided on Corolla but said I was looking at Camry and even test drove one so as not to lock myself up.
Be prepared to spend the better part of the day at the dealership. Do NOT be pressured. If someone tries to get you to accept what you don't want or sign fast, leave and go elsewhere.
Read everything, even if they say not to (the really jerky sexist finance manager told me not to read the contract because I was supposedly incapable of understanding it; he got a full blast).
It's a good idea to bring a car-savvy friend or relative or coworker, if you know one. My neighbor's son got me $250 knocked off the agreed upon price.
LOOK at the car before you leave. If there is a problem, it's your problem once it's out of the lot. Make sure the tank is full; that's the one thing I did not do and with gas prices sky high it cost over $30 to fill the little Toyota Corolla tank. (I did write to them and got a free tank later.)
Get business cards of everyone whom you talk to, salesman, finance manager, anyone else. So you have names if there is a question/problem.
If you can pay in total, obviously you save. If you can't, see if there is a credit union at your workplace, it may have better financial terms than the dealer. At any rate, pay down the maximum you can.
Buy on need, not what is sexy or popular. Needs of course vary from person to person. For myself, I have a long commute, I'm single with no children and I'm no mechanic, so a Corolla, small, good mileage, reliable, was a prime choice.
Hope this helps.
I just bought a 2006 BMW 330xi. I agree that homework is the key. I spent a good six months checking out the details of the cars I was interested in. My brother is a finance manager in the auto industry and he was a great help in getting me past all the bullshit that you have to go through. He even got me the car at 500 dollars over dealer cost.
The Honda Accord is a great car for the price. It really does hold it's value well and gives you great gas mileage. My mother and brother both have one and love the car. If it's the right one for you then go for it.
Lots of luck, and happy driving!
[ December 23, 2005, 10:43 AM: Message edited by: TommyC84 ]
The Honda Accord is a great car for the price. It really does hold it's value well and gives you great gas mileage. My mother and brother both have one and love the car. If it's the right one for you then go for it.
Lots of luck, and happy driving!
[ December 23, 2005, 10:43 AM: Message edited by: TommyC84 ]
I just saw a Veyron today... wimper... mommy!
0-60 in 2.5 seconds
1000 hp
250 mph out of the gate; 283 with the second key.
Faster than a Gran Prix or NASCAR racer.
sigh... no, I did not even look at the price tag.
R
0-60 in 2.5 seconds
1000 hp
250 mph out of the gate; 283 with the second key.
Faster than a Gran Prix or NASCAR racer.
sigh... no, I did not even look at the price tag.
R
Most of the info on here seems accurate; however, I'm pretty sure the dealer doesn't make money on the financing...that's where the automaker gets your money.
But anyway, the best advice I can give someone is to be as informed as possible about your choices in vehicles. There is really no excuse for not knowing everything about a car today. Edmunds.com is another great site for getting true market pricing for a specific area in the country...let's you know what the average person is paying in your city. In addition, take into account the maintenance costs for your vehicle...can add thousands over the life of the car.
I bought an Infiniti last May and did all my dealing through email and phone. I sent emails to the local Infiniti dealerships to get their best price on what I was wanting. I decided to go with the middle quote, since they were the most accomodating and weren't rude and pushy at all. I'm very stubborn about most things, so nobody was able to coerce me into buying what I didn't want. Stand your ground and remember that you are buying from them; you have the power in the negotations...you are in the driver's seat. wink
But anyway, the best advice I can give someone is to be as informed as possible about your choices in vehicles. There is really no excuse for not knowing everything about a car today. Edmunds.com is another great site for getting true market pricing for a specific area in the country...let's you know what the average person is paying in your city. In addition, take into account the maintenance costs for your vehicle...can add thousands over the life of the car.
I bought an Infiniti last May and did all my dealing through email and phone. I sent emails to the local Infiniti dealerships to get their best price on what I was wanting. I decided to go with the middle quote, since they were the most accomodating and weren't rude and pushy at all. I'm very stubborn about most things, so nobody was able to coerce me into buying what I didn't want. Stand your ground and remember that you are buying from them; you have the power in the negotations...you are in the driver's seat. wink
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