New Year’s Eve Is the Best Day of the Year to Buy a Car

Dealers are anxious to clear the lot and meet sales targets at the end of the year.

New Year’s Eve Is the Best Day of the Year to Buy a Car Photo (cc) by MarkDoliner

Looking for a brand-spanking-new ride with all the bells and whistles?

You’re in luck, as New Year’s Eve is right around the corner. “The last day of the year is going to be the day that a consumer is most likely to get the best possible value when buying a new car,” Alec Gutierrez, senior analyst at Kelley Blue Book, told MarketWatch.

Dealers have annual sales targets to meet and excessive inventory to clear off their lots in return for the hefty bonuses that manufacturers dole out. And they will do whatever it takes to reach their goals. Among the perks offered to entice consumers to buy before the end of the year are cash rebates, cut-rate financing and lease deals, notes Forbes.

In most cases, the 2013 models will offer the most incentives, as dealers want to make room for the newly designed 2014 models. However, the options may be limited because eager consumers who have already snatched up the most fancy and visually appealing models have left you with little to choose from, says Forbes.

On the other hand, this isn’t such a bad thing as it strengthens your case for bargaining with ­­car salesmen even more. Their trash, or excess inventory, is your treasure.

Not sure which automakers offer the best incentives? Forbes suggests that you start with General Motors, Ford, Chrysler, Nissan and Volkswagen, which are offering the most appealing deals on 2013 models.

Before you head out to the lot on New Year’s Eve, check out our car-buying tips to ensure you get the best deal on your new ride, and check out the video below.

Most importantly, keep in mind that the final sales price is ultimately determined by what you are willing to pay. If the dealer doesn’t agree to your terms, simply walk away.

Do you plan to head out on New Year’s Eve to purchase a car? Comment below or on our Facebook page.

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