Why now is the time to buy a new car

Posted at 4:09 PM, Jan 04, 2016
and last updated 2016-01-04 16:09:20-05

Dealers are pulling out all the stops to get you to buy a car. They’re also extending deals into the New Year.


That’s why experts say now is the best time to buy a new car. Dealers are pressed to make year end sales goals and clear out stock, which means big discounts for you. 


It’s out with the old and in with new for most car dealerships and Christy Vannette couldn’t be happier. 


“I got a great deal on the car of my dreams,” said Vannette. Trading in her SUV for a sporty convertible, she found exactly what she was looking for at the right price.


“The incentives are the highest they’ve ever been for manufactures and the interest rates are great, “ said Tim Joslin, general manager of Bill Curry Ford.


Typically, the week between Christmas and New Year's day is traditionally when shoppers can strike the best deal. It’s because auto makers are pressed to reach sales goals, and clear stock to end 2015 on a high note. 


“We’re going to bring in the new a couple days from now,” Joslin said. 


Analysts say the best day to buy is New Year’s Eve. If you want to keep a new car every couple of years you may want to lease.


You’ll get more bang for your buck buying a certified pre-owned or used car. How much you pay depends on what you can afford. Joslin says the best advice he can give to a car shopper is to do your homework. Research the car you want, know how much you’re willing to pay and stick to your budget. This will also help you know what's available, giving you something to bargain with.


When looking for financing you have several options. A financial expert we spoke to says 90 percent of people finance through the dealer. They typically have the best rates and more lenders to choose from. You can also go through your bank or credit union, but if you go anywhere else you may get swindled.


Most dealerships are offering incentives through this weekend up until Jan 4.