If you want a new car, you may wonder if now the time to look for one. Whether you want a brand-new car to gift to a loved one or you have the funds to buy now and you want to get a vehicle you know you'll love, it's wise to shop for new cars when you're fully prepared.
Are you ready to look at new cars, and is now the time to buy? Here are a few signs that you might be ready to look at new cars on the market.
You're in the right month for a new car purchase
The last three months of the year are when new cars go on sale and have the best value for buyers. Why? Because auto dealers want to roll out their new cars, and they need to clear their inventory of the previous models first. Unless you want the newest version of a car on the market, it's best to buy a car between October and December to really get a great vehicle deal.
You're prepared with a sizable down payment
New cars usually cost more than their used counterparts because they don't have the wear and tear and mileage on them that used cars have. This means your down payment is likely to be higher, to offset the price of your monthly car payments. Prepare to pay 20% down on your purchase. If you don't have this kind of money, either consider used cars instead or look at cheaper new cars that can help you meet a 20% down payment goal.
You're ready to drive the same car for several years
Do you have a specific make and model in mind? The average person drives the same car for around 11 years, although some cars are kept for less time. If you are ready to commit to a car that you can drive for over a decade, then it's time to look at new cars on the market. You can also commit to leasing if you are not wanting to keep the same car for that long.
Now may be the right time to look at new cars, but it also may not be the right time. If you are curious about whether you should look at new cars or not, see if you meet the above criteria, then set up an appointment with your auto dealer to learn more.