End of December the best time to buy a new car
Darcy Wintonyk and Lynda Steele, CTV British Columbia
Published Thursday, December 27, 2012 6:00AM PST
Last Updated Thursday, December 27, 2012 8:25PM PST
If you’re thinking about buying a new car, the end of December could be the best time to buy.
With most people focused on buying Christmas presents and holiday items, new car showrooms see decreased consumer volume. And with dealer quotas and the end of the year looming, car dealerships have an increased incentive to sell as much as they can.
Vehicle price comparison website TrueCar.com says its data indicates some of the best days to buy a 2012 and 2013 new model car are December 27, 28, 29, 30 and 31st.
Based on its analysis from previous years, it forecasts that December 29th is the absolute best day to buy – with the average discount off the manufacturer’s suggested retail price at 8.2 per cent.
Its statistics measure the money you’ll save compared to list price.
Automakers offer extra incentives at the end of the year, just before the new models roll off of the assembly line and into showrooms.
TrueCar expects sales of new cars in December to be up 10 per cent across North America.
"December continues the trend of exceptional sales due to strong manufacturer incentives, specifically lease and finance deals, and the demand due to Hurricane Sandy in the Northeast," said Jesse Toprak , senior analyst for TrueCar.com, in a statement.
"Even with the fiscal cliff still needing to be resolved, automakers can expect a strong year for new car sales in 2013."