can't answer your timing questions

As previously mentioned, I am going to be buying a kid-mover sometime soon. I've only ever bought used but right now there doesn't seem to be a lot of savings in a good used model versus new. We are looking at SUVs/minivans and likely targeting Honda, Toyota, Nissan (on the board's rec), or Hyundai.

While I would like to delay the purchase as long as practical, it doesn't seem like interest rates are going to materially drop before, at earliest, this fall. We have a decent bit saved for the purchase but we will have to finance some of it.

I've always heard that the best times to buy are: 1) end of year (to take advantage of new models being moved in) and 2) end of month (to take advantage of monthly sales quotas needing to be met). My main questions are:

1) Is this timing strategy accurate and worthwhile? I doubt we make it to end of year but could adjust when we buy within a few months.
2) Am I missing any considerations on new v. used? For <$5k difference I think I'd rather have the perks that come with new.
3) Any other tips? Our plan is to test drive and pick which model we want and then shop around to various dealers.

For srs, the knowledge, helpfulness, and humor on this board is awesome, especially for those of us on the younger age range here. It's like having a panel of fathers and drunk/horny uncles on retainer. I appreciate you all.

Obed®

Lot o points [156069]

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Last day or two of the month usually gets better deals, especially

Jan 15, 2024, 1:36 PM

If the dealership is only a few units away from hitting the next tier for manufacturer incentives.

Obviously negotiating isn’t what it used to be, but you can also look up multiple dealers’ inventories in a reasonable radius and email their internet sales manager (usually they are less haggling BS types due to the nature of their role) what you are willing to pay for an exact unit on their lot. You can go on Edmund’s and determine the invoice cost to the dealer of a car if you option it out identically. Dealer holdback is usually 2-3 percent under invoice so if you target invoice to $500 over invoice, that’s a great deal. (Pre Covid I would have been telling you to aim for $1000 under invoice).

Bringing your own financing (aka the “I’m a cash buyer”) tactic is an old wives tale and doesn’t work. The reason is that they are making money when they finance you in house, so they may very well have better incentive to give you a good deal if you let them finance. Know the rate you can get from your own source, and tell the finance manager what it is. They should have a reasonable idea if they can beat it, and if they can, go with them.

Obviously all these tactics are for a unit that’s in inventory. Look at the dealer stock number and compare it to other cars. If it seems a good bit different (a lower number by a margin of a few hundred) from other cars on the lot, then it’s probably an aging unit that they are more willing to move.

Lastly, all bets are off trying to figure out Toyota pricing because they are basically independent companies by region in the US, ans southeast Toyota is notorious for multiple “mandatory” packages for pinstripes or other BS that they put on all their cars that may not be apples to apples from another region.

Lastly, be willing to drive. For a SC buyer, Atlanta is the 500 pound gorilla for where to find dealers willing to give cutthroat pricing. Heck, I drove to Atlanta from Nashville to buy an F-150 a few years ago and it saved me $5k.