As the financial year end approaches, there is a sudden spurt of offers and deals that are available in the market. It is almost as if everyone is out there to make a sale. Finding the best deal in such a market is a difficult proposition, but hardly an impossible one. With some amazing offers on the table, the year-end could be the best or worst time of the year to go car shopping.
The pitfalls of buying a car at the year-end:
Buying a car at the end of a financial year means you are getting one from the stock that wasn’t moved through the year. Traditionally, some of the stock in this inventory is not one of the best pieces the brand has produced. Also, you might run the risk of buying an old model while a new one is to be launched in only the coming months.
Beware of Hidden Fees
In the rush of buying a car before the end of the fiscal year, many people forget to read the fine print on the deal. This can often land you in trouble and cost you much more than you were originally willing to pay. Make sure you read the offer document carefully and do not sign unless you are completely clear on all clauses.
Lack of Research
Do not make it a one-horse race. It is great that you know exactly what car you want to buy, but it would be a great idea to also check out other options and make sure you have hedged your bets sufficiently. Looking at other options will also tell you whether you are getting the best deal or not.
Here are the benefits of buying a car right before the end of the fiscal year:
Some of the most incredible offers can be availed at end of the year sales. These include great cash-back offers which give you back a fraction of your cost when purchasing certain specific models. Manufacturers also offer many incentives to car dealers to sell the old models and make space for new ones, thus opening avenues for some amazing deals.
A Buyer’s Market
Yea-end auto sales are more or less a buyer’s market. The buyers can dictate the amount of money they are willing to spend, be it second hand or unused cars, they can, more often than not, make sure they get the deal they want. There will be a number of dealers that will make sure that you get the best discounts and deals.
If your choice of car is overstocked at a dealer, consider yourself lucky and go straight for the buy. Overstocked cars usually get the most number of discounts and have no particular flaw. These cars are unsold inventory that needs to be moved before the new stock flows in. Make sure you visit all the dealerships selling the car of your choice. If you find that one is stocked more heavily than other, you have your choice made.