4 Reasons Why the Best Time for a New Car is NowDeals The List
If you're thinking about getting yourself a new car in the near future, now is the perfect time to do it. Jimmy Rhoades sat down with Edmunds.com's Senior Advice Editor Matt Jones, who says that if you're looking for a new ride, the end of this year bring good tidings for getting incredible deals on new wheels.
1. Excess Inventory
Because a lot of cars were made in 2016, car makers bumped up production on cars made for 2017. But since not as many cars were sold over the course of this year, now that it's coming to a close, you can have the pick of the litter thanks to the amount of cars left on dealerships' lots.
2. Model Changeovers
When car makers roll out new designs of cars they already have on the road, a lot of drivers hold on to their rides until the new model comes out. Then they trade in their old cars for the new designs, meaning dealer lots are flooded with new, pre-redesign cars.
So, if you're in the market for a car, and aren't looking for the newest and flashiest, you can pick up a great pre-owned vehicle in the last year before a redesign. This year, keep an eye out for 2017 Honda Accords, Toyota Camrys, Chevy Equinoxes, and Ford Expeditions. All of these models will be redesigned for 2018, which means quite a few drivers will soon be trading them in at the dealer's – which means more car choices for you.
3. High Incentives
Grabbing a car at the end of the year mean you're likely to find higher incentives on rides of all kinds, not just luxury brands. With all that inventory on the lot, dealerships might be willing to make bigger efforts to get you into one of their cars. So, if you're looking for big package incentives, now's the time to find them.
4. Low Interest rates
If you're part of the car shopping public that will finance a car with a loan or a lease, the end of the year is prime time for finding lower interest rates on longer terms for your ride – saving you money in the long run.
What are your tried-and-true tips for buying a car? Share them with us on our Facebook page, @TheListShowTV.