Wednesday, December 11, 2013

Best Time to Car Shop...After Christmas!

Don't end your holiday shopping on Christmas Eve.  The best savings in terms of car shopping is yet to come. New Year's Eve Day and even up to January 2, 2014 will be the best time to buy a 2013 new car.  Why? Dealers and automakers want to meet year-end goals, experts say.  “The last sales day of 2013 for most dealers will be Jan. 2, 2014,”  says Jessica Caldwell, senior analyst at price-comparison website in "The Market Watch Section" of the Wall Street Journal.  “Any time after Christmas – assuming a dealer    hasn’t already met his/her sales target – would be a favorable time to buy a new car.”

Car dealers are ready to throw in multiple incentives to help them finish with a strong year.  We will see 0% financing offered to those who qualify and hefty cash rebates throughout December until January 2nd.  Such is the case with the GM hybrid electric Chevrolet Volt which many dealerships are offering $7,000 cash back until Jan. 2nd at a manufacturer's suggested retail price of $39,145.  You can also find 0% financing on some 2013 Ford and Lincoln models, and cash back of up to $3,500 on some 2013 models.
You can also expect to see a big drop in used car prices as people have traded in their cars for big discounts on new cars in November.  The average price of a used car was $15,678 in the third quarter.  This is the lowest third-quarter price in four years, according to The average price of a used small car in December is $7,631, down from $9,145 a year ago, he says.
So get out ....again after the holidays and .... shop again!

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