Even if your car is only a few years old and worth a lot more, it’s unlikely you will get the same amount for it that you would have gotten before the pandemic. You might get a better deal right now for your trade-in than usual, or you might find it’s easier to negotiate down from the window price on a car. Author of "Money Hacks: 275+ Ways to Decrease Spending, Increase Savings, and Make Your Money Work for You" (Adams Media). If you’re thinking about buying a car right now, it’s possible that your timing couldn’t be better.

In this article, we’re going to go over five things you need to think about before you buy a car right now. That is, “if the manufacturer is offering 0% financing on buying a new vehicle.”. However, if you just need to have that specific color or those specific options, then start searching a little earlier and make sure that you get what you want. Shoppers that buy a car on Monday have saved as much as 8.1%, which is the best average savings among all days of the week. The used car market has slowed down for the time being. They probably feature attractive prices and generous financing options. Clark says the decision to buy new or used is going to depend on your specific needs, budget and other factors. Bottom line: Buy when the time is right for you. One of the popular myths is that you can get a good deal if you buy a car right before the dealership closes and another is that you can get a good deal if you buy a car when the dealership is busy. One of life’s simple pleasures is not having to make a car payment every month. “If you’re going to buy new, a situation that has not been true in about 12 years is that your best financing may actually be at the dealer,” Clark says. “It is the second-biggest expense most of us have.”. Seen any advertisements for new cars lately? If you don’t mind having less of a selection at the end of the year, then you can possibly even score a deal of the year on December 31st. How are your finances overall?

Personal finance writer. And if you’re wondering what the best month is, then go in October, November, or December, according to Edmunds. year financial commitment while we’re at the very beginning of what will likely be a long period of economic uncertainty doesn’t seem like the best choice, despite whatever the incentives are. Remember, you should only consider buying a car if you’re confident in your financial situation. Cars are cheap now because the coronavirus is keeping people at home—and holding off on the plan they may have had to buy a new car. Clark says to make sure you get the “drive-out price” in writing so that you can compare quotes apples to apples. Some automakers, like Fiat Chrysler, Volkswagen and Kia are offering both incentives at once, Brauer noted.

So, going into the car-buying process, you need to be comfortable with the way that business is being conducted right now. Just Human / Getty Images The thinking behind this is that Mondays are not as busy, and a salesperson might have more time to negotiate. 1. Instead, time your car shopping process right and visit the dealership on a Monday or Tuesday for the best days of the week. If it's right now, you can save a bundle on a new car.

Right now, used vehicle values are down around 11%. “Since almost everyone is set up to negotiate and complete a deal online, the ability to shop with multiple sellers is extra-easy right now,” Clark says. The Best Time of Year to Buy a New Car. October through December is a good time to buy a used car. There are a few myths when it comes to buying a new car. Should you buy a car right now, with all that’s going on? because values drop so quickly early on that you’re then in a position to buy a vehicle where a lot of the initial value has been absorbed.”, Insert details about how the information is going to be processed, Car Value Estimator from Consumer Reports, Buying Gas From a Station on This List Is Better for Your Car, Amazon deals: 30+ great bargains at Amazon today, 4 Things to Know Before You Sign Up for YouTube TV, 12 of the Best Places to Watch Free Movies Online, 5 Things to Know Before You Sign Up for fuboTV, The original owner bore the brunt of the price tag associated with a new car, As a subsequent owner, you can benefit by paying less than the initial value.