Internet-savvy buyers are already quite familiar with choosing the best time to pick up the latest deals and discounts; for example it’s a good rule of thumb to search for quotes for your insurance policy 21 days from your renewal date, while van insurance for all trades can often be cheaper in summer months, especially August.
However, as increasing numbers of shoppers are now looking to buy their next vehicle for work or leisure online, are there specific days or times frames when you can secure the best deal on that dream vehicle?
New research carried out by the BuyaCar online retailer has indicated that many people are choosing to purchase their next vehicle on a Monday, particularly around the middle of the day and early evening.
There may be various reasons for this; firstly, the weekend is traditionally the easiest time for shoppers to do their research, either online or in person.
The impact of the Coronavirus in 2020 has also meant that more and more people are working from home and prefer to shop online, especially through the time when dealerships were shut.
Having spent time over a weekend working out their ideal options, a large number then commit to buying on the Monday, kick-starting their week with positive news.
Other times popular with online car buyers in 2020 have included late night Saturday and a similar time on Tuesday.
However, while this is proving to be a new trend, is this the best time to purchase a car?
In that sense, the usual rules still tend to apply. If you are looking to buy a used car, a great time is still March and September, when motor trade dealers are moving newly-registered cars and tend to have an influx of part-exchange vehicles.
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This can drive down prices due to an excess of stock, plus there’s a wider choice that it easier for buyers to find what they want.
This applies equally to sales online or at the showroom forecourt. Another great time comes at the end of June and December when vendors are looking to meet sales targets – this can give the buyer some room for negotiation and earn you a better deal or larger discount.
New cars and vans are also at a premium when the new registrations come out, so shopping in February and August can be a great time to find a bargain – this also applies when a new model or version of a vehicle comes to the market; the older model will often be discounted, so it’s worth doing your research here.
Sales on a Friday also tend to be quiet across the motor trade, so this can be a good time to try and strike a deal.
Whether you’re in the market for a brand new vehicle or a second-hand used model, a little careful research can pay dividends – watch out for new model release dates and keep a close eye on prices online in the periods immediately before new registrations come out, and at the end of the June and December months, as this can end up saving you a considerable amount of money.