Like most things, timing is everything. This also applies to purchasing a car. If you’re in the market for a new vehicle, the right timing can help save hundreds to thousands on your vehicle purchase. Doing thoughtful research before heading to the dealership and being patient will guide you to the right car, at the right time. In advance, try to research your desired vehicle, look at the sticker price, vehicle options, and financing. You will most likely need an auto loan, so make sure you go with a bank you trust. Here at DEXSTA Federal Credit Union, we have a few tips to help you get where you need to go!
Automakers usually have significant incentives to move the vehicles during December because it’s their biggest sales month. Think about it; how many holiday commercials did you see about giving cars as gifts? We’re sure you’ve seen a lot. It all comes down to accounting. The automakers want to carry as little inventory as possible into the new year.
Waiting until the end of the year may sound impossible especially if you need a vehicle as soon as possible. If you can, wait to buy until the end of the month. Once you’ve selected the model you want, check out the incentives. Enter your zip code into the automaker’s website, and see if there is a local incentive. Figure out the price of the vehicle online and calculate the sticker price before and after the incentive. Now you can shop, but remember to wait until the end of the month to negotiate.
Once the new cars roll in, the “old” cars are discounted. Buying a new car from the previous model year can save your thousands versus purchasing a comparable vehicle from the current model year. Usually, model changeovers happen around late summer.
DEXSTA Federal Credit Union provides auto loans for auto purchases. We finance up to 100% of the retail value and can add cover taxes, tags, and service contracts. Unlike other banks, we believe new and used vehicles may be eligible for the same rate. Contact us or stop into a DEXSTA Federal Credit Union branch where one of our loan officers can personalize your auto loan.