If you've spent any length of time shopping for a car, you likely know that it can be a complicated process. Unlike other purchases, you wouldn't necessarily just show up to a dealership and buy a car on the spot. A new ride is a big investment, and a car's value can be subject to any number of factors, from the age of the vehicle to its history to what time of year you're shopping.
While there may not be an exact science to making the most of your car-buying experience, there are a few tips to keep in mind when you're ready to head to the lot.
Summer loving
The warmer months of the year are good for more than just beaches and barbecues – evidence indicates that summer may be the best time to spark a love with a new set of wheels as well. According to TrueCar, August tends to see the lowest transaction prices for car-buyers, meaning motorists may want to consider adding one more item to their back-to-school shopping lists. This may seem arbitrary, but there's a reason for the price drop. The source indicated that many manufacturers tend to rotate their model seasons toward the end of the summer. As a result, shoppers are likely to have better luck finding a less expensive buy in last year's models as the newer vehicles roll onto the lot.
Daily deals
There may be evidence to indicate that you should check your calendar before heading out to shop for a car – not only can the month you look influence price, but the day of the week may as well. In general, according to TrueCar, Sundays tend to yield the best results if you're looking to save money on a purchase. Data found that average transactions tended to be around $2,000 cheaper on Sunday than on Friday, which was the most expensive day to purchase a vehicle.
Another interesting point is that Black Friday, the unofficial national day of shopping and consumerism, is a prime time for motorists to find a bargain as well. Time magazine, citing data from TrueCar, pointed to November 25, 2011, as an example, with dealers offering an average 9.5 percent discount off of the manufacturer's suggested retail price for many models.
If you're ready to shop for a used car, head to NJ State Auto Auction. You'll find hundreds of Carfax-certified cars on the lot, and an in-house finance team to help qualify you for a loan.