Myth: I will get a better deal on a new car if I buy at the end of the year
Fact: When new vehicle models come out, dealerships are eager to get out with the old and in with the new. This means you could pay less on these “end-of-model” cars. However, the end of a model year doesn’t always mean the end of the calendar year. Although new cars tend to start shipping in the late summer or early fall, some models may start in the spring.
Tips:
- Check with your local dealerships to find out when new models are expected to arrive and try to plan your car purchase around this time.
- Don’t be tempted by the newest models. You will end up paying top dollar if you purchase at the beginning of the new model year.
- Car insurance rates vary by make and model, so be sure to contact your Broker and find out the cost to insure the car you have your eye on before you buy.