When is the best time to buy a new car for less?
Any car is best to buy from a dealership at the end of the month as sales managers try to meet their goals set by the general manager or by their franchise. This is an old piece of conventional wisdom which is still accurate.There are also other considerations that are less obvious such as the amount of time a dealer has owned a vehicle. "Stale" inventory that has been on the lot 45-90 days (depending on the individual dealer's "turn time") or even longer may be approaching a floorplan curtailment (interest payment due to their inventory-financing bank) and a deal is much more likely to happen than on a fresh trade or auction purchase which only recently came available.The end of the year (October through the beginning of December) are very slow for most dealers and they are more motivated to put together a deal, but they may also be reluctant to cut a steep bargain on a cash sale where the dealership keeps a lower back-end margin. Every deal has a larger affect on the dealership's average profit per unit, and cash sales are typically low profit as the customer is less likely to purchase a warranty or other ancillaries. Do not walk in saying you are willing to pay "cash money" as that will actually have a negative effect on your bargaining position.If you are buying a brand new vehicle from a franchise dealership you will typically see a "model year-end clearance" or other such year-end promotion which is usually sponsored by the manufacturer and is intended to liquidate the remaining inventory to prepare for the next year's model line. Finance rates and sales prices are usually at their lowest just before the introduction of the next year's models.
Is it a good idea to buy cars in the month of January?
Honestly, it doesn’t make a big difference from a rounded perspective. Here’s why.Usually, Nov-Dec is the period of discounts. And heavy discounts because dealers are flooded with stocks and most manufacturers take a ‘time off’ in December for plant maintenance.Now, there are 3 options :Buy the car in Nov-Dec because discounts are good, stock is plenty - you can get the model, variant, colour of your choice pretty quickly. Yes, depreciation will kick in. But - read point 2.Buy the car in Jan of the next year because ‘fresh manufacturing date’. But this doesn’t guarantee discounts. Most manufacturers increase prices every quarter and it’s sure to happen as we enter Q4 for that Financial Year. So, you’ll have a ‘fresh’ car but at a higher price tag.Plan to buy a previous Manufacturing Year car in Jan of the next year. Honestly, this is a big, big push and can lead to quite some compromises. With dealers quickly flushing out stock in Nov-Dec, there is a pretty high change that the car you want will not be available in January when you want to go for it. You may have to make some compromises on the variant or colour or sometimes even the model itself and ‘settle’ for something else. For ex. If you’re specific on an Elite i20 Petrol Asta(O) Red Passion colour and choose to push it to January of the next year, there’s a good chance that vehicle is sold to someone else.So, between point 1 and 2 - does depreciation matter? Not really. With point 1, if you buy the car in Nov/Dec of the previous year, your car would depreciate but you have already won a good discount on it. With point 2, you are trying to beat the depreciation but buying a car at a possibly 2% higher price tag. The two would simply cancel each other out.As of point 3 - I wouldn’t recommend that.I talk a lot about cars and also sell them. If you’re looking to buy a new car in Chennai/Bangalore - do check out CarPal (trycarpal.com) - an online new car buying platform offering test drives at home, the best pre-negotiated prices and a completely stress-free car buying experience.
What time of the year is the best to buy a car in India?
It depends. If you plan to use the car for a long time and not sell it off in a couple of years, the December festive season discount sale is the right time to make a car purchase.Why? Because most car manufacturers have in-house annual sales targets. So in case they have fallen short, they amp it up by offering lucrative discounts around the year end. Also, companies often like to change car models at the start of a new year. So existing models go on discount.Flipside: The resale price of the car will go for a toss once the new model hits the market in a month's time. So if you change your vehicle frequently, it is advisable to wait till the new model reaches the market. But don't get your hopes high for a discount in this case.Expert Tip:Avoid the usual festive season rush during Navratras and Diwali, as car prices can go high due to the heavy demand. In case you want to know a bit more, this link might prove helpful: When is the ideal time to buy a new car?
When is the best time to buy a new car in December?
The month of December brings year end schemes for car buyers. The scheme is same through out the month. Christmas doesn’t bring a difference to it. Now the reason for schemes in december is that companies and showrooms wish to clear out their stock of cars which have been manufactured in this year and make space for new cars which are voing to be manufactured. So they have a limited stock in hand with a limited cars in category of model and colour. So you should buy it as soon as possible because as the month will come to an end their stock will decrease and you won’t have more options to choose from. Like the colour you want might not be available or the model might not be available. But if this is not a problem for you then you can wait and maybe you’ll get a bit more discount if they have a huge stock left. But this can turn vice-versa also as there is a possibility that customers are more and stock is less then you have to buy at new higher prices.So in a nut shell grab what you are geting as soon as possible.
When is a best time to buy a car in India?
As suggested by people below, buy cars during Diwali time, as lot of offers goes around at that time. This may come from dealers or manufacturer - depends though.But if you really want to make good saving on your car purchase, please buy it in December.The reason being, dealer and manufacturer both make their efforts to clear current year stock. Customer do not prefer old model in next year (starting Jan). Year of manufacturing for a car, though NOT very imp in terms of resale, is considered a factor by many customer.Due to which Manufacturer and dealer will give huge discounts in Dec - Its a benefit for you as well as to them.So the hack is, you book your car in Dec (or complete the payment process) and get it registered in Jan (any date). This way you get a car at much lesser rate and the recent "year of registration". Also IMPORTANT part, its the "year of registration" that matters the most while resale - if at all you want to resale.
Should I buy car in India in December or wait for January as it will have more resale value?
Oh certainly. However that is only going to give you an assured new years' registration date. The vehicle could still be manufactured 6 months ago. A smart buyer would look at its VIN number. This is a 15-22 digit number punched into the chassis. It would be near the engine bay. Ask the dealer where it is if you can't find it. Each manufacturer implements its meaning slightly differently. This link can de-code the VIN for the VW group - VW/Audi/Seat/Škoda VIN DecoderSome VW VIN numbers are called as SIN numbers. :)They are visible only at emission testing centers. Nobody has seen one though. :)Another Example: NissanVIN Characters: 17 (beginning mostly with "MD")Decode:10th character represents the YEAR of Manufacture11th character represents the MONTH of ManufactureAn Example:If your 10th VIN character is C, then it represents the Year 2012If your 11th VIN character is 3, then it represents the Month of MarchYear Codes:A = 2010B = 2011C = 2012D = 2013Month Codes:1 = January2 = February3 = March4 = April5 = May6 = June7 = July8 = August9 = SeptemberA = OctoberB = NovemberC = DecemberPlease look at auto sites to see how it is done for your choice of car.
When is the best time to buy a used car?
Used or first hand, it is generally believed that December is the best time to buy a car since there are lucrative deals and discounts. Thereafter, the festive season extends until new year. Many buyers also choose to wait until the new year to buy their dream car, as this means that this car will get the new year’s date of registration, which in turn, has a substantial impact on the resale value of the car. You can do your own math by finding out the resale value of the car that you are planning to buy. In short, it is advisable to make a cost-benefit analysis before simply going for December deals. You may get a lower price if you choose to buy in December, as an additional year is added to the age of the car though it is hardly a month’s difference. On the other hand, to buy used car in January means that despite missing out on discounts, there is a better chance of earning a higher resale value of the car due to a new year’s date of registration.It goes without saying that the prices of second hand car are usually much cheaper than brand new ones. while there is always the apprehension of inheriting the problems left behind by the previous owner, you can minimize the anxieties by buying a certified vehicle from a trusted vendor. First and foremost, a new car depreciates at a much higher rate than used cars and the buyer can gain tremendously on that front. The highest depreciation occurs in the first year of a new car which is close to 40%, if used extensively. A buyer does not have to confront a huge depreciation when buying a used car. Also, he/she need not fret about a chip in the paint, or parking lot scratches.According to a report on India’s used car market by Indian Blue Book, a pricing guide for new and used cars, the pre-owned car market in India stands t 3.3 million units a year, which is 20% bigger than the new car market. A study by Deloitte has suggested that 73% pre-owned cars buyers are first time car buyers. Many people prefer to buy their cars on a festival. No wonder automakers respond to this demand with various alluring schemes and freebies. A prime advantage of buying a used car is that these days many of them are fairly new. Previously, people used cars for at least 10-12 years. However, in recent times, this time period has come down to around 5-6 years. This implies that you can buy an ‘as good as new” car at a much lower price and use it for longer.
Do you get better deals buying a used car in December or January?
You actually get better deals buying new at the end of the year as dealers make room for next year models. For an even better deal, find out which models will be getting a redesign or heavy refreshing the next year. Alot of times, buyers of particular models and brands don't buy alot models that are due for a big redesign the next model year, because they are waiting for the “newest” new model. So, there is a higher chance of those “lame duck” new cars that have been sitting for months to have huge discounts slapped on them. As an added bonus, models at the end of their design cycle typically tend to have less issues because of the early redesign car bugs are worked out by then.Typically, the redesigned new models have the most bugs. I rarely buy a new car, but when I do, I look for end of year offerings that are due for a redesign within the next year or two. For example, the last car I bought using this strategy got me a new car that cost less than 3 year old used cars with over 40K miles because it was heavily discounted, as the dealer was trying to make room on the lot for shipments of redesigned, next year models.
What is the best time with offers to buy cars in India?
After November 15.Indians have mentality for considering the resale value while purchasing a vehicle. While reselling one of the important factors is time. However in this time is calculated in years instead of months. So if buy a car in Dec 17 and sell it in Jan 20, it will be counted as 4 years instead 2 years and 2 months. So people prefer to buy it in January. Now since the demand is low after Diwali and other festivals in Oct-Nov, companies offer several discounts and schemes in Dec to clear the inventory. So if you want it cheap buy your vehicle post the festive season in Nov-Dec.