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Car Buying Timing for the Best Deal

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  • Car Buying Timing for the Best Deal

    Hello All -

    Now that I am rebuilding my finances, I'd like to become a more savvy car shopper. Is it true that the end of the year is where you can find the better deals, or does it matter when you buy a car?
    Filed Pro Se Ch. 7 on 7/7/10 341 Meeting 8/19/10
    Last Day for Objections 10/18/10 Discharged to a Fresh New Start 11/1/10

  • #2
    Originally posted by freedomnow7 View Post
    Hello All -

    Now that I am rebuilding my finances, I'd like to become a more savvy car shopper. Is it true that the end of the year is where you can find the better deals, or does it matter when you buy a car?
    The best deals are when the dealer is trying to clear out last years models. So end of year is a very good time to get a good deal. Also, a lot of dealerships will file their taxes based on a calendar year, so end of year will be the time when they want to decrease their inventory for tax reasons.
    You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

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    • #3
      Thanks, school. Your posts are always so helpful.
      Filed Pro Se Ch. 7 on 7/7/10 341 Meeting 8/19/10
      Last Day for Objections 10/18/10 Discharged to a Fresh New Start 11/1/10

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      • #4
        Originally posted by freedomnow7 View Post
        Thanks, school. Your posts are always so helpful.
        Thanks! Buying a 2010 model will save you thousands of dollars over the 2011 models. I saved $2,500 plus got a $1,000 rebate by buying a 2010 Rogue instead of a similarly equipped 2011 model. As long as you buy a car that holds its resale value fairly well, you will come out better by buying a 2010 car now to the end of the year.
        You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

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        • #5
          does it apply to used cars too or just the new or late models? I mean the inventory.
          Filed chapter 7 Jul 13, 2010 341 hearing Aug 12, 2010 Trustee's report of no distribution Aug 20, 2010 Discharged Oct 13, 2010 Closed Oct 28, 2010.

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          • #6
            March is a great time to buy as well..... thats when all the deals come out to play and you can get even steeper discounts. We've always bought in the Feb/March timeframe - even looked at the same vehicle once (our truck) in Nov of 06 - was higher in 11/06 than it was in Feb/March 07 when we finally got it.

            I read an article once about this very topic....let me see if I can find it.

            ETA: Well - obviously I havent been on the web searching this category in a while because there are now TONS of sites LOL. Oh well... here's a neat one that has what incentives are offered on all car makes/models/dealers. They update monthly - hope it can help you!

            http://www.realcartips.com/car-incen...ar-deals.shtml
            Last edited by Pandora; 10-22-2010, 06:22 PM.

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            • #7
              Originally posted by wnguyen View Post
              does it apply to used cars too or just the new or late models? I mean the inventory.
              All cars have lower prices at the end of the year if the dealer is on a calendar year. (as opposed to another fiscal year type). The dealer's do not want to have to pay taxes on the unsold inventory.
              You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

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              • #8
                Thanks school. It's very helpful to know about this
                Filed chapter 7 Jul 13, 2010 341 hearing Aug 12, 2010 Trustee's report of no distribution Aug 20, 2010 Discharged Oct 13, 2010 Closed Oct 28, 2010.

                Comment


                • #9
                  Originally posted by Pandora View Post
                  March is a great time to buy as well..... thats when all the deals come out to play and you can get even steeper discounts. We've always bought in the Feb/March timeframe - even looked at the same vehicle once (our truck) in Nov of 06 - was higher in 11/06 than it was in Feb/March 07 when we finally got it.

                  I read an article once about this very topic....let me see if I can find it.

                  ETA: Well - obviously I havent been on the web searching this category in a while because there are now TONS of sites LOL. Oh well... here's a neat one that has what incentives are offered on all car makes/models/dealers. They update monthly - hope it can help you!

                  http://www.realcartips.com/car-incen...ar-deals.shtml
                  Great source Pandora.
                  Filed chapter 7 Jul 13, 2010 341 hearing Aug 12, 2010 Trustee's report of no distribution Aug 20, 2010 Discharged Oct 13, 2010 Closed Oct 28, 2010.

                  Comment


                  • #10
                    Originally posted by wnguyen View Post
                    Great source Pandora.
                    thanks Did you click the "real car prices"? I thought that was pretty interesting!

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                    • #11
                      Originally posted by Pandora View Post
                      thanks Did you click the "real car prices"? I thought that was pretty interesting!
                      Yes, I did on some of them but most of them not offered in my state though. One way or another, it's a great way for me to know what the real prices are
                      Filed chapter 7 Jul 13, 2010 341 hearing Aug 12, 2010 Trustee's report of no distribution Aug 20, 2010 Discharged Oct 13, 2010 Closed Oct 28, 2010.

                      Comment


                      • #12
                        Originally posted by backtoschool View Post
                        All cars have lower prices at the end of the year if the dealer is on a calendar year. (as opposed to another fiscal year type). The dealer's do not want to have to pay taxes on the unsold inventory.
                        Not true. depends on the car and if it is a "hot seller". dealers also do not pay taxes on inventory either since the dealer does not actually own it.

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                        • #13
                          Originally posted by TheExpert View Post
                          Not true. depends on the car and if it is a "hot seller". dealers also do not pay taxes on inventory either since the dealer does not actually own it.
                          I would simply say that ymmv. Welcome to the bkform!
                          You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

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                          • #14
                            Originally posted by TheExpert View Post
                            Not true. depends on the car and if it is a "hot seller". dealers also do not pay taxes on inventory either since the dealer does not actually own it.
                            Actually unless the car is floor planned, the dealer does own their inventory. They don't pay tax because the car is offered for resale. In the case of floor planning the bank or lender holds the title or MSO.

                            From our OM who worked for a franchise dealership, the last day of the month and the last day of the year is the best time to buy a new car. As for any car it pays to comparative shop to find the best deal when you have an idea of the make, model and year you're interested in. Buying a car on impulse is not a good idea unless you have money to spare.

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                            • #15
                              Originally posted by mijd View Post
                              Actually unless the car is floor planned, the dealer does own their inventory. They don't pay tax because the car is offered for resale. In the case of floor planning the bank or lender holds the title or MSO.

                              From our OM who worked for a franchise dealership, the last day of the month and the last day of the year is the best time to buy a new car. As for any car it pays to comparative shop to find the best deal when you have an idea of the make, model and year you're interested in. Buying a car on impulse is not a good idea unless you have money to spare.
                              Don't they have to pay some sort of tax on the cars in their inventory? Not sales taxes, but their taxable income would depend on the inventory sitting on the lot at the beginning of the year versus the inventory sitting on the lot at the end of the year I thought. Also isn't there an inventory tax in a lot of states?
                              Last edited by backtoschool; 10-26-2010, 05:57 PM. Reason: added info
                              You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

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