Used cars are a commodity. There is not usually a consistent time per
year during which is the best time to try to buy a pre-owned vehicle; instead,
they depend heavily on supply and demand, which depends heavily on any number
of other factors. We discussed recently how in our state, New Jersey being one
of the slowest states to recover from the recession has had a positive
effect on the used car market. For new cars, though, it's a different story.
It's the end of the model year, and this is a big time of year for new
car dealerships. They know that some consumers want the newest, most
highly-anticipated models as soon as they're released, and in order to give
those customers what they want, they've got to make room on their lots they do
this by – you guessed it! – cutting huge deals on the brand new, but soon-to-be
last year's model, vehicles they already have.
The interesting things about all of this is that for some models, the
2014 version isn't going to be much different than the 2013 version. Therefore,
if you're a savvy shopper, you should go for the ones already on the lot;
you'll be getting a brand new, modern vehicle for a discount price. End-of-the-year
discounts often include substantial rebates, low financing rates, and even sign and
drive lease deals in NJ. It's the only time of year you'll be able to find
even the best-selling makes and models in the state with clearance price tags.
Supply certainly isn't lacking – according to the senior market analyst
of Kelley Blue Book, Alec Gutierrez, "With a
little digging, you should be able to find the color, trim level and features
you want." He adds that whether you're looking to buy or lease a brand new
vehicle, now is the time to do it.
Whether you're treating yourself to a back-to-school gift, want to swap
out your gas guzzler for a hybrid, or need to do more driving now that you're
home from your summer getaway at the shore, if you've been thinking about
buying a brand new car, taking advantage of early fall deals is the smart way
to do it.