Changing your car is something you will inevitably do multiple times during your life. The fact that you live in Canada, the second biggest country in the world and that Canadian cities tend to spread more horizontally than growing vertically, makes the point of having a car literally a "must." So, you will ask yourself a lot of times: When is the best time to buy a car?
And here is my fast response: it depends on your needs and your rush. That is why in the following article I've split the analysis in three: If you want to know the ideal month for new cars, the perfect moment for used cars and the third and last one: if you are in a rush.
Best Time to Buy a Car: September to December for New Cars
If your primary concern is price and you are looking for a new car, the best time span of the year is between September and December. And more precisely, the best moment is November.
The fact that new models are being delivered and parking lots need space, makes manufacturers offer incentives for previous year's models with the intention of attracting customers to drive these away. Sometimes, you can find a few thousand on MSRP savings with incentives that are really worth.
Additionally, during February and March, usually a low sales season, new car prices also go down a little bit but never compared with the levels reached during the last quarter of the year.
Nissan Canada sometimes offers the Rogue during October-November with 4,000CAD savings incentives.
Anytime for Used Cars
A new car is the same anywhere: you go to dealer X, Y, and Z and they all have the 0 Km same vehicle. Wherever dealer you go, you will get the same exact "clone." But used cars are different. Buying a used car is more a matter of opportunity than timing. Any time in the year you can find different used car offers as these aren't globally managed by a massive market flow.
Looking for a Used Car: Don't Rush If Possible
While I've talked about it on other articles, you need to remember that even with the same exact kilometers, same precise date of maintenance and being in similar weather conditions, vehicles depreciate in different. Cars are used differently: bumps, driving habits, breaking hard, breaking slow, high speeds, low speeds... there are multiple factors that affect the actual condition of a vehicle. And all this can result in the fact that both "brother" cars have different costs.
If you are looking for a used car, don't rush. The ideal time span you should use for exploring alternatives is 3 - 4 weeks of 10 hours a week of search. The fact that you have found a desirable offer doesn't directly means that you should go with it. We have all been there and that "opportunity feeling" influences a lot on making a decision.
Propose Yourself at Least 10 Options on a Spreadsheet
One thing that helps a lot not to rush and be happy with whatever decision you make at the end is to put as many options as possible on the table. Yes, an actual "data table" or spreadsheet. If you propose yourself to get up to, let's say, ten choices, then you can be sure that you will make an excellent final decision.
Take your time, don't rush, and do a table with all available options before saying "Deal!".
Urgency? Yes, sometimes it is urgent...
If your current car is broken, you have the "urgent need" of having a car, or you just some eventuality is rushing you, then I suggest you analyze the following before jumping into any decision.
- If your urgency is because of work, consider evaluating the monthly costs of a lease for a new car.
- If it is because you need more space because of a new family member, work reasons or just upgrading for space, consider SUVs available under 500CAD/month.
- If you are considering used vehicles, take at least two weeks of intensive search. The more time you take and the more options you see, the better decision you'll make.
- If your car is broken and you urgently need one, consider renting another one for a few days while you decide.
The best choice will always depend on how clear your judgment was at the moment of closing your next car deal. Good luck!
