While the whole world was facing the Covid-19 crisis last Summer, the CDC advised us to avoid going out except for essentials. However, this year is a great time to check up on all your pending road trips. After a successful vaccination drive and close to 30 percent of the population getting vaccinated in America, we can expect a return to normalcy in the coming months.
While public transport options might possess risks, you can use your car to take a trip to some of the nearby spots. You must take care of all the safety precautions, social distancing norms, and medical requirements while being on your vacation. Hence, a long-distance tour is still not advisable, but you can take your car to a nearby shore or mountain hill to get away from the daily hustle.
Are you getting ready for a Holiday? What if you do not own a Car?
Buying a car for Summer might feel like a bad idea to people because usually, the car prices are at the lower end in the Winter due to the year-end and Christmas festivities.
But if you accurately plan your car buying process, you might get some incredible deals during the summer months too. First things first: focus on getting a pre-approved auto loan. Whether you are a car buyer with a bad credit score or a young college student without any credit history, having pre-approval on your auto loan application will reduce your anxiety.
Once you have an idea of the financial aspect, let’s find out what other factors affect the process of buying a car in Summer:
1. Research for Newer Launches during Summer
Winter might seem the best time to buy your car because of year-end deals and Christmas sales. However, many car manufacturers start to launch newer models in the months of autumn. For example, companies will launch newer 2022 models in the autumn of 2021.
To win against the competition, many companies even release their cars in mid-to-late summer days. So, research for companies that are launching their newest models around Summer. Hence you can take advantage of the deals where the older versions of the car are available at lesser prices than the newer ones. You will get the best deals at the end of the summer months because dealers have limited space, and they will clear out old stock for the newer versions.
2. What is the Best Time to Buy a Car?
Another best way to get your car at the best prices is to wait until the end of the quarter. All the dealers and salesmen have their quarterly targets which they want to achieve. Hence, at the end of March, June, September, and December, you will be getting the best deals and higher discounts. At these times, you will be getting fairer deals and offers to get the best value for your money.
Another thing you should keep in your mind while going to buy your car is to approach the dealers at the end of the weekday. At the end of the weekday, you can negotiate for better prices. Don't go during weekends because there's a massive rush of car buyers.
3. Take Advantage of Promotions
It is always a good idea to reduce the price of the car so that your loan amount reduces substantially. In addition to the down payment and lower interest rates, you should focus on one more thing: Dealer promotions and offers. There are many events/festivals/federal holidays during summer months such as Memorial Day sales, 4th of July sales, Beginning of School/College Term Discounts, Labor Day, etc. Most of the dealers provide various offers during the period. You can avail those offers and get your new vehicle at lower prices.
4. Consider buying Repossessed Bank Cars
Get creative to buy your next car at affordable prices. In addition to choosing a used car, here's an out-of-the-box idea to save money: Repossessed bank cars. They are vehicles that the bank/lending company repossessed for lack of payments. Lending institutions repossess vehicles regularly. They sell them off at auctions to recover their money.
Keep track of local auctions as well as research online for buying repossessed bank cars. Many lenders conduct online auctions and seek bids from buyers all over the country. Do not forget to inspect the automobile thoroughly for damage. It is ideal to hire a mechanic to inspect the vehicle before you sign the paperwork. This way, you will be able to avoid a lemon car. Remember to negotiate with the banks like you would do with any other seller.
Buying a car in the summer months can be a hustle, especially if you have a limited budget. But do not worry. If you focus on the Summer car buying tips, you will not just save money but get a decent car for your summer vacations and getaways.
Are you ready to buy a car this year? Let ezAutoFinance.net take care of your auto financing needs. Apply for a bad credit auto loan today.
Happy Summer!
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