Looking To Buy A Car? Catch The Deals Now!
The best time to buy a new car is the end of one year or the beginning of the next year, say those in the know. This is the period when companies try to get rid of the old models to make room for the new lot. So if you’re OK with having a 2013 model in 2014, the time to make a purchase is now.
Sales are usually on the upswing around Christmas time, but this year nature stepped in. “December sales faced some challenges early in the month, with some sales pulled ahead in November and winter storms (keeping some buyers away from showrooms),” Jeff Schuster, senior vice president of forecasting at LMC Automotive, told TheDetroitBureau.com. “But they have rebounded well and the year ahead is set up to edge new-vehicle sales closer to pre-recession levels.” One of the reasons that sales boom during holiday season is that many auto dealers offer 0 percent financing and manufacturers’ rebates sound.
And since dealers want to hit their quarterly and year-end quotas, they will be offering great deals. While the deals tend to taper off at the end of the year, many dealers offering incentives up to January 6.
Auto sales have been swift lately. “Industry analysts say December car and truck sales in the U.S. could hit $34 billion, topping the all-time record set in August,” reports Austin’s KXAN.
And experts say sales in the U.S. should increase about four percent in December, putting the total for the year at about 15.6 million vehicles, according to estimates from J.D. Power and Associates and LMC Automotive, reports Dallas News.
It was a good year for the auto industry. In fact, total consumer spending on new vehicles should hit $375 billion for 2013, a $40 billion increase over 2012, J.D. Power and LMC Automotive estimated. Looking ahead, LMC Automotive says that sales in 2014 will grow to 16.2 million.
Typically, manufacturers push production up toward the end of the year to meet traditional increases in demand but at the end of 2013 the levels are a little higher than expected. This could lead to production cuts in the first quarter. Should that happen, you could see shifts in the car market later in the year.
So plan your auto purchase accordingly.