Boxing Week is a great time to buy or lease
Is there a best time of year to buy a car?
My answer is that a car represents a significant purchase, and that decision should be based on driving needs, personal requirements and affordability.
Having said that, during the past two decades December has become a popular month for new and used vehicle sales in Canada. Holiday auto promotions have created a robust car-buying period, during a month when car sales were traditionally flat.
Based on my experiences, one of the best times to buy a car then is at the end of the calendar year, which is now. This right circumstances — monthend sales targets, year-end sales targets, attractive incentives and the desire to reduce inventory — give consumers unique negotiating opportunities when buying in December.
Most auto manufacturers introduce financial incentives for the holidays, some starting as early as September and lasting until the end of the year. These incentives include low interest rates, factory rebates and attractive lease rates.
Dealers also want to sell remaining model-year vehicles to clear space on dealers’ lots for new models. As a result, there are opportunities for car shoppers to land a great deal.
Shoppers should focus on remaining or discontinued models, and for vehicles that are in oversupply.
If a dealership is overstocked on a specific vehicle, or if you are not too concerned about options and colours on remaining, in-stock vehicles, you can probably negotiate an attractive deal.
Another reason to buy a new vehicle in December concerns the condition of your current vehicle. If expected repair costs are going to be too costly, or if you don’t think the vehicle will survive another winter, why not consider a new vehicle now while the incentives are good?
Or, consider buying a new vehicle as a gift for a loved one. Our dealership has delivered many vehicles as gifts, for sons, daughters, spouses and partners.
When buying a vehicle from a dealership in December (or any month, for that matter), car shoppers should be prepared to discuss add-on products, warranties and accessories. That is why it pays to know what items you want so that you can budget for them accordingly.
Consumers should be aware of these factors before they visit a showroom. Do your homework — visit dealership and manufacturer websites, read and compare newspaper ads and auto review sites, and understand the current financing options and promotions before you start to shop. And, of course, your dealer can answer all of your questions,
So, after you have gathered all of the information, visit a newcar dealership and begin the process of finding the right car for you. There might never be a better time to buy than now — so enjoy the last bit of your eggnog and head off to your local new-car dealership.
Even if you are not in the market to buy a vehicle now, dealerships offer plenty of automotive merchandise for the car lover on your holiday list. GPS systems, cargo boxes, backup sensors, remote starters and brand attire are among the many items that would brighten any auto buff’s holiday.
Many dealership websites contain links for accessories and brand merchandise, complete with photos, pricing and convenient purchasing options.
Consider buying a raffle ticket for a specially-modified 2018 Acura NSX (valued at $235,158.65 and generously donated by the Trillium Automobile Dealers Association) in support of Prostate Cancer Canada. Information and tickets can be found at: rocktheroadraffle.ca.
Prostate Cancer Canada supports research to uncover better diagnostic and treatment options and provides comprehensive support services for those living with prostate cancer.
Whether you are looking to buy a vehicle in December or not, people are busy at this time of year, so please take your time and drive safely. This column represents the views and values of the TADA. Write to president@tada.ca or go to tada.ca. Susan Gubasta is president of the Trillium Automobile Dealers Association and is president/CEO of Mississauga Toyota. For information about automotive trends and careers, visit carsandjobs.com.