cancel
Showing results for 
Search instead for 
Did you mean: 

Better to buy before year's end or wait till next year?

Established Contributor

Better to buy before year's end or wait till next year?

Are there any incentives to purchase a new or used car before the end of the year that won't be matched with similar incentives after the new year? Such as dealer financing interest rate offers, dealerships more willing to haggle, etc? This will be my first time purchasing a car that I don't pay for outright.

 

I'm unsure of what make/model or new/used that I would like to go with. I've been without a car for 2 years. It is becoming too taxing and needs to be resolved soon. I can wait till after the new year, but if it is better to apply for loans and negotiate rates before the end of the year, I'd like to know.

3 REPLIES
Valued Contributor

Re: Better to buy before year's end or wait till next year?

There are a lot of great deals out there especially for 2012 models dealers are wanting to move off their lots to make room for more 2013 models.

I just bought a 2012 Acura TL with $4990 off the MSRP plus tier 1 lease financing through Acura. The 2012 & 2013 are essentially the same model so I didn't miss out on anything buying a 2012.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Valued Contributor

Re: Better to buy before year's end or wait till next year?

If you are in the car market now...I say now is the time. Dealers are looking to clear out the rest of the 2012 models and make room for their 2013 and 2014 models. Those incentives will be back tho. They always come back.

As of 2017, rebuilding...
Valued Contributor

Re: Better to buy before year's end or wait till next year?

Depending on your states tax laws you may find a dealer more willing to negotiate on price at the end of a year. I know in CA that my friend in the business told me that they must pay taxes on all inventory on the lot at the end of December. I bought my last car at the end of December and they did seem a little more willing to negotiate. I don't really know if it was to save the taxes or if December is just a slower month and they were looking to pump up the numbers.

 

If I was purchasing now instead of negotiating I would probably just let USAA determine the price and financing. And factory incentives are not going to drastically change in the near future. They have the consumer hooked on them now.

Best financial advice I ever got: "Just imagine what an adult would do and do that."

Starting Score: 500's
Current Score: EQ 701 (FICO) TU 721 (FICO) EX 715 (Quizzle)
Goal Score: 760 ALL


Take the FICO Fitness Challenge