Are you ready to buy a new car? Hold your gear before making your purchase. Choosing the right time to purchase a new car could potentially save you thousands of Ringgit. Even if you have done much research, planning on your budget and choosing your desired car. It can be somehow tricky to get the best deal. Sometimes negotiating with the dealer take you nowhere because all the negotiation could probably end up saving between three figures only. Instead of feeling clueless with what you are getting yourself into, pay attention to the below as we will tell you when is the best time to purchase a new car and you can plot down those dates in your calendar.
Shop at the end of the year
Car makers usually offers interesting rebates and attractive promotions during year ends. The dealers usually able to offer the highest rebates in order to compete with each other for their annual sales target. With that, most dealers are willing to sacrifice part of their margin in return for incentives. Besides, roadshows will be conducted to attract consumer interest, there will be lucky draws and free gifts included. Thus, most Malaysian do not hesitate to purchase their new car during October, November and December. Some consumers might factor in the depreciation value because of the difference of registration year, whereby the car registered later have higher resale value even though there are just a few months apart.
It is not necessary correct, as the automobile industry is more competitive these days. The used car market is unpredictable, it is better to grasp for the best deal for immediate down payment savings. For some car makers, they are pushing out value packages to attract month end buyers, those package are mostly including leather seat upgrade, infotainment system upgrade and bodykit. You might consider yourself lucky if some car makers are willing to swap the value package for cash rebate.
Shop during or after festive season
In Malaysia, there are plenty of festive seasons and holidays in a year. Car makers tend to come out with sales campaign during the festive seasons. Be it the Chinese New Year, Raya, Deepavali, Christmas or New Year, car makers would want to close as much deal as possible in order to hit the sales target. Thus, during January and February, the carmakers would try their best to offer higher rebate for any unsold stocks being carried over from last year.
However, you must not be too overwhelmed by the rebates, some hot selling model are usually selling fast during year end. Once the car being sold out, the car makers will restock with New Year registered car. You might ended up postponing your car buying plan to another year end.
Look for dated models
When a car has launched for 1 year, it will considered as dated or obsolete model seeing that there are more car choices and selection for them to choose from. Dated models are likely to have higher discount as the car makers are trying to clear out their inventories to fill in with the latest model. The biggest advantage of getting a dated model is reliability, dated model have went through multiple batches of production and there are lower chances of facing quality issues. Besides, new model are likely to be an upgrade from the dated model, if one do not mind about the latest car technology and simply wanted a reliable car with essential features, dated model will be your choice.
However, one need to take into consideration with the choices of variant and colors. Dated models are likely to be the ‘left over’, there are limited units and with no choices of color. Besides, dated models are also less likely to come with value packages, if one is being picky about their selection, they should avoid getting them.
Anytime with MyCarsearch
The timing on when the buy a car follows a regular pattern, it is always better to conduct market research and do some legwork in order to get the best deal. Alternatively, you can refers to MyCarsearch. MyCarsearch is a revolutionary web and app based new car marketplace that offers transparent and haggle free car buying process. Getting a new car quotation is as easy as on your fingertip.
It is always a great effort to research before buying a car. For this time around, it is not the early bird catches the worm. Take above factors into consideration when purchasing a new car and you will be surprised how much Ringgits you can actually save.