BEST TIME TO BUY A CAR: 2021 Discounts, Incentives, MSRP Deals: The Homework Guy, Kevin Hunter

when's the best time to buy a car it's the age-old question from car buyers trying to find a way to gain advantage over car dealers the answer lies in this question when are car dealers most hungry to move inventory hi i'm kevin hunter also known as the homer guy and author of is that the best you can do this video brought to you by youtube's best channel on car buying and selling courtesy of the homework guide team it's another round of super high intensity training for car buyers we are known for if you like the homework guy videos check the merch shelf down below you can sport some of the swag like this one car buyers are always looking for a way to win and as anyone knows car dealers are a pretty tough crowd is there a best time to buy a car the simple answer is yes as in when you need one however there are multiple times throughout the year that car dealers are most hungry to move inventory and you might as well know when that is time it right and you can find yourself making a deal that puts a smile on your face are there many theories on when the best time is to shop for cars of course there are and there is a bit of truth in most of them our mission today is to make sure that you know about all of them to give you the best chance to capitalize on a great deal all of this information will have an impact on new and used cars because as new cars move out of the lot trade-ins always increase happens every time this important information is coming next right after this short message from the homework guide team if you're a first timer on the homework guide channel consider subscribing and leaving us a comment below add hashtag the homework eye if you'd like a response directly from kevin or one of the homework i staff members we're always glad to help our loyal followers the best part is there's no charge you can also email the team at info the homeworkguy.com with a specific question or if you'd like a free contract review just black out your personal information and send it to us we'd love to hear from you just be aware that we do get a lot of requests so just be patient while you wait for a response back to you kevin the best time to buy a car comes at multiple opportunities throughout the year generally speaking the later in the year the better the deals get we'll start with an overview and then we'll get into some details first end of the model year the next year's models are coming to the lots end of the calendar year as in october and november and december is even better end of the month the closer to the end of the month the better end of the car's design cycle a redesign and new features are coming and they want the old stuff gone end of the car's life cycle the vehicle is done manufacturer pulled it from the lineup if these cars are still on the lot the dealer wants to be done with them here's a number of holidays that can be good president's day memorial day 4th of july labor day black friday and of course christmas some days of the week that are better than others monday or early in the week you get better service more attention and a sales staff that isn't too bogged down with others dealers like to see cars move on the early days in the week all right let's dig deeper into the end of the month as month end approaches it's all about the quotas this is true for both new and used cars month end at a dealership is like the fourth quarter in football when all the magic seems to happen dealers want to close the month strong a new car dealer can have their next month orders impacted if they fall short think of that as a motivator with negative consequences for the dealer also there are positive motivators the dealer could be looking at significant bonuses from the manufacturer for hitting a given vehicle count out the door if you show up at month end the dealer could have a number of reasons to want to get serious about knocking down prices also it's not only the dealer who's more motivated to move units so are the sales staff you may run into a salesman who's just one or two units away from getting his commission's bump into a higher pay bracket just by closing your deal it's not unusual for a dealer to have a commission on units from 0 to 10 and then a bonus on units from 11 to 15 16 to 20 21 to 25 and so on those bonuses tend to be retroactive to the first car they sold for the month now how hungry are they to help you here's a tip on end of the month shopping you have to get your homework done in advance do your test drives earlier in the month and make sure you've already talked to your own bank or credit union and of course watch as many videos right here on the homework guy channel that apply to your car deal this is the time that if you snooze you lose and if you're looking at a really hot deal it's quite true that it's unlikely to keep until the following month you follow me it's the one time i'm going to tell you to not sleep on it if you did your homework in advance you should be prepared to recognize a good deal so be prepared to ink that contract when everything lines up for you now let's talk about best day of the week to buy a car monday or tuesday basically early in the week the level of service you're likely to get on those two days is generally always better there's less foot traffic in the dealership as well and fewer people calling in on car deals because it's slower you have a better chance of getting your questions answered and more likely to find a salesman that is a little less pushy everybody likes that more attentive to your needs as well when the day is packed and the entire staff is juggling multiple people it's easy for the dealer to have an attitude like take it or leave it when there's nobody there they want you to take it and they'll work with you until you say yes it's also less likely to be a four to eight hour day like a busy day can be end of the calendar year it is widely known that for new cars either to purchase or to lease the end of the year is most likely to net you your best possible price historically it's always been true if you're buying a car combine end of year phenomena with end of month tips we just shared and you could experience a mix of motivators for the hottest deal of the year while october and november should be considered year-end months nothing quite compares with december it tends to be the biggest discounts off msrp and the most amount of incentives including dealer cash you often have a lot to choose from in december and as well inventories tend to be higher than two all of these factors and a lot packed with cars and you have a motivated dealer are there important holidays for savings throughout the year yes three day weekends are often good watch for the flags balloons big signs and inflatable monsters come out at the dealerships while they claim rock bottom prices are here expect busy showrooms on each of the following extended weekends and holidays president's day february is the month with the smallest discounts off msrp so it isn't necessarily the best month to buy however auto shows are also happening at this time around the country and all of them have rebates and incentives attached as manufacturers are showing off those new cars memorial day this is the official kickoff of the summer buying season and is often a solid time to get a deal it's also when you have the largest selection of current year models to choose from if you like to see lots of options and pick up those rebates and incentives memorial day weekend is a keeper fourth of july the incoming models for next year have started to show up and they are making dealers a little bit nervous about the mix of current year models on the lot fourth of july is the beginning of what's coming in the months ahead as a dealer will steadily become more assertive about moving inventory labor day this holiday is in a unique position because it is the sweet spot of selection and competitive pricing you won't find the lowest bare bones prices not yet but there's more selection than your end and rebates and incentives are very strong black friday it's the biggest retail shopping day in america you're familiar with those crazy lines and campouts that people have been known for the craziness happens on dealer lots shortly after thanksgiving in recent years automakers and dealers have been offering more and more incentives and discounts and those things known as door busters as a means of capturing some of that retail spending fervor black friday is also a clear end of the model year so expect to see deals on the outgoing models left in inventory if you want to shop on black friday you've got to start your homework early if you're trading a vehicle get a proper value established for your current car we have videos on this channel that deal specifically with trades talk to your own bank or credit union and get pre-approved for an auto loan if you plan to finance take a few test drives also pay attention to the fine details of any black friday deals you see coming out there then be ready to wade through a bunch of other people it gets a little nuts on black friday including at dealerships finally christmas of course this video would be incomplete if we didn't mention christmas and pre-new year's sales let's see this is the last holiday of the year check it's the end of the month check it's the end of the year check if i need to say anything more you've been sleeping through this whole video here's how rebates and incentives generally impact each month throughout the calendar year the least amount of rebates and incentives come in january february march and april things pick up in may june july august and september and the best months of the year are always october november and december december is the king of the hill while it's true that this information largely pertains to new cars keep in mind that used car inventory benefits because trade-ins are always up when new cars are moving i said that early on i'll wrap up with a few lesser-known timing opportunities for you end of the model year this incentive comes into play starting in august and increases steadily as black friday approaches current year models are being thought of as leftovers because next year's models started trickling in a month ago every automaker will do this a little bit different but the mixing of old and new works in your favor dealers have begun transitioning their lots and manufactures started offering big bonuses to dealers who get the current year models down the road end of the cars design cycle before redesign if you're hearing that a given vehicle you're looking for is getting a great makeover and you either like the current model year or you don't care much about the newest bells and whistles a redesigned car coming out could create some serious saving opportunities for you end of the car is life cycle a discontinued model manufacturers will announce that they are ending production on a given model it happens all the time there's plenty of potential for bigger savings you should know these cars will depreciate significantly however when discontinued but if you plan to keep it for a while that doesn't make much difference in the long run one caveat to know about this just make sure you know why the manufacturer is pulling the plug are there a ton of problems with the car if so you should pass on it too however some of you are old enough to remember when gm dropped oldsmobile from the ranks and yet that was one of the most solid cars on the market years ago i bought one of the 99 olds 88s it had 90 000 miles on it it was a great run around car we put over 200 000 miles on that car before it was turned in for a smash up derby somebody had that fun with it reliable tough as nails and tons of those cars still on the road gm just couldn't carry oldsmobile between cadillac and buick anymore right now ford is dropping the endura suv also because sales are low so that might prove to be a good deal for some of you as a return viewers know there's an abundance in outstanding car buying videos right here on the homework guy channel that you can learn from check them all out we've done a ton of work to help you so use the resources we put out there for you all right if you learned something today consider giving us that big thumbs up and leave a comment down below make sure you use hashtag the homework guide share on social media with your friends and family and join us on facebook and twitter too we post notifications and other updates on our social media sites and answer car buying questions there too if you love what we do and you want to say thanks for the tip well the paypal and cash app links you see here will be easy to find in the description box down below if you can't do a tip no problem you can say thanks by sharing our videos with your family and friends and by encouraging other people to subscribe to the channel that's huge it's one of the most important things you can do as a loyal follower here on the homework guy channel we appreciate everything you do to help us get the word out and defeat those bad guys in the car business still hanging on who haven't learned that fairness and honesty is the best business policy thanks everyone for coming back we'll see you on our next video you guys rock i'm kevin hunter take care everyone [Music] you

Channel: Kevin Hunter The Homework Guy

Views: 185,731

Rating: 4.966053 out of 5

Keywords: Car prices, Car prices set record highs, used car dealerships near me, car loan calculator, Auto sales, Used cars, Car, Cars, Car dealers, Automotive news, Car news, Automotive, Vehicle tax, Vehicle fees by state, Auto Shop, Car parts, Auto market, car dealer finance office, rebates for new cars, car loan scam, dealer rip offs, market watch out for this financing scam, what to do when a dealer lied to you, illegal things car dealers do, what to do if a dealership rips you off

Id: 06lnLL9bJMY

Length: 13min 30sec (810 seconds)

Published: Tue Nov 17 2020