It is not clear whether one time is better than another to buy a new vehicle. Normally, prices are the same everywhere and all the time. That said, certain time-related factors may influence the price. That is why the timing of a vehicle purchase can be a consideration.
Consider the season, for example. If you want to buy a convertible, then shopping in May will place you with the thousands of other customers who want to do the same. Because of the demand you can write off any chance that you have at negotiating the price.
Formerly, all the cars of a new model-year become available in dealerships in September. However, today, new models become available throughout the year. So it becomes more difficult to know when to go visit a dealership hoping to have a better price because the dealer wants to dispose of its older models. However, if you are able to find out when the models will become available, know that this is still the best way to have some bargaining power because the dealer is likely to benefit from additional incentives in order to get rid of older model-year vehicles that are taking up valuable space on the showroom.
Another good time for negotiation is the end of the month. Several sales representatives and dealerships have not yet achieved their sales targets, ultimately putting them in a position where they are sometimes willing to negotiate more in order to reach their target for the month. Even if their targets are reached, they may sometimes be entitled to a bonus if sales exceed the forecast level. Because of this you may sometime have some room to negotiate.
Last thing that appeals less to the sales representatives, but sometimes proves to be effective: shopping in the morning, but negotiating in the evening. If your sales rep, like you, is looking forward to going home to see his or her family at the end of the day, he or she will sometimes tend to be more generous to complete the transaction as quickly as possible.
Nevertheless, be aware that the sales margins are sometimes thin for dealers so do not expect thousands of dollars off. In other words, if you are ready to buy now, and we are the first of the month on a Monday morning, buy your vehicle!
Thank you to Morrey Nissan Burnaby for their help with this article.