According to U.S. News “If you have some flexibility when shopping for a car, timing your purchase can save you more money than you might think.” See when the prices are right:*
Before You Need One – When you have to buy a replacement vehicle quickly, a clever salesperson can take advantage of your situation. Plus, you will be better prepared to shop and under less stress.
End of Month – If you can find a dealer that's lagging behind its sales targets as the month is winding down, its salespeople will be much more likely to offer you a good deal.
Mondays – Shopping on Mondays, or any earlier, quieter day in the week, will give you more time to get your questions answered and take test drives. It will also give you more time to calmly negotiate a price that fits your budget, as the dealership's financing office is less likely to have a waiting line.
3 Day Weekends – The holiday weekends are where you'll most likely find heavily promoted deals including Memorial Day, Labor Day, Fourth of July, and President's Day.
October – Dealers and manufacturers start to aggressively move the last of the previous year’s vehicles off of the dealership lots to make room for the next year’s models.
November – Deals tend to ramp up even more as the end-of-year draws closer and the holiday season kicks off with Black Friday deals.
December – As the holidays approach, dealers and manufacturers have one thing in mind: their annual sales goals. If your dealer is on the cusp of an annual bonus, they will likely make you a deal.
New Year’s Eve & Day – Because it's still considered the end of the month, end of the quarter, and end of the year, there are plenty of sales goals that salespeople, dealers, and automakers are trying to hit.
What About Rate vs Rebate?
Dealership Financing Best Reward Financing
Purchase Price $24,000 $24,000
Cash Rebate $ 0.00 $ 4,000
Loan Amount $24,000 $20,000
Interest Rate 0.00 % 4.50%
Loan Term 60 Months 60 Months
Monthly Payment $400.00 $372.92
Total Loan Repayment $24,000.00 $22,375.20
In this example, taking the dealer's cash rebate and financing with Best Reward would result in a monthly payment about $30 lower and a savings of around $1,625 over the term of the loan. 0% financing is a marketing tactic with specific trade-offs and strict qualification requirements. Get pre-approved with Best Reward and compare your options. Members trust us with their auto loan, because we are local, trusted, and member-focused.
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