8 Great Benefits of Buying a New Vehicle at the Start of the Year

8 Great Benefits of Buying a New Vehicle at the Start of the Year

Most people have a New Year’s Resolution that includes bettering themselves or the lives of others. Purchasing a new car is one of the most direct ways to improve your life in 2023. The effects are long-term, as you get to enjoy your vehicle for years to come. You’ll also feel proud and confident when you drive it around town or take it on long road trips with family and friends.  

As alluring as a new car may seem, it’s important to note that you can get better deals at the beginning of the year for multiple reasons. You’ll find that auto dealerships have a less competitive environment as everyone is scrambling for their sales numbers, and inventory usually needs to be higher. With less competition, you can get more vehicle options with better warranties, financing rates, and incentives than in December or later in January. Here we will explore the most significant benefits of buying a new vehicle at the start of the year.

1. Lease Rates Decrease

The reduction of lease rates in January is also an added benefit, as you get to pay less for your new vehicle with no down payment. That’s because dealers use their inventory as a loss leader for customers looking for a new car and have plenty of cash to spend. There is less competition for leasing the exact vehicle available to you in the first two quarters of the year, so you’ll find lower rates than you would in December or later.

2. Finance Rates Lower

Another benefit is that you can get lower financing rates in January. In December, dealers are seeking to sell their current inventory and are faced with the possibility of being left with a more significant chunk of older cars that need to be sold quickly. This means that dealerships need to compete aggressively on prices, especially on financing, as it’s one of the most common ways people purchase a new car.

3. Incentives Increased

Dealerships are facing a competitive area of the automotive industry and want to generate the highest sales numbers. With this in mind, they increase their incentives on new cars in January rather than December because it is more competitive for large sales and inventory moves. This means you can get more money back from your dealership for your vehicle purchase or lease than other discounts given in December.

4. Limited Competition

A big bonus of buying a new vehicle at the start of the year is that you find much less competition compared to December. Once the automakers have released their new models for the year, most dealerships have to contend with a less competitive environment as they compete for the same buyers.

5. Offer Extended

The final bonus you’ll enjoy from buying your new car at the start of the year is that you can get it delivered and picked up later in your time frame. As it gets later in the year, auto manufacturers offer different models or even stop production on select automobiles. This means that you’ll be able to get a car delivered and picked up within your time frame without having to rush or worry about it not being available due to limited supply.

6. Enjoy Your Car

Buying a new car at the beginning of the year enables you to enjoy your vehicle for an entire year. That’s because most auto manufacturers release their models at or before the start of January and have them delivered and picked up by the end of March. As a result, you can enjoy your new car for at least nine months before getting another one in December or January of the following year.

7. Get the Latest Technology

Purchasing your car on the first of the year enables you to get the latest technology. Dealerships know that these are their best-selling models and want to incentivize customers to purchase them sooner rather than later. That’s why they offer even better incentives and money-back deals on new cars in January than in December or later.

8. Look Your Best

The final benefit of buying a new car in January is that you’ll feel great about yourself. As we all know, a new car feels great and looks great. Your new vehicle is a status symbol, indicating that you’re on your way to success.

The benefits of buying a new vehicle at the start of the year are endless. By taking advantage of these benefits, you can drive around town with a new car in 2023.

7 Common Mistakes to Avoid When Buying a New Vehicle

7 Common Mistakes to Avoid When Buying a New Vehicle

A car is likely to be the second most expensive investment you’ll ever make behind a home. Prevent making these frequent blunders when purchasing a new automobile to avoid feeling remorse as you drive away with your new car.

1. Skipping Online Research

Do some homework before you step foot on a vehicle lot. The showroom floor isn’t the best spot to view what’s on offer for the first time. Find out what’s available and decide what kind of car you want to buy. Then, evaluate prices, decide which features are essential, and set—and keep to—a budget; otherwise, you risk making a purchase based simply on emotion. 

You should also spend time researching different options for financing a vehicle. Will you take out a car loan? Will you lease or buy? How much of a downpayment will you do? Your financing is just as important as researching the type of car you want to buy.

2. Skipping a Test Drive

Some individuals believe that a brand-new automobile is always safe; no testing is necessary. That, however, is a gross misunderstanding. Even if you have looked online for reviews and feedback, you should not depend completely on them. The ideal way to find out if a car is right for you is to drive it yourself.

3. Not Researching Insurance Options

After you’ve done some basic web research and cut down your options, calculate how much you’ll pay on vehicle insurance every year. Compare rates from various insurance providers to get an understanding of how much it may cost to cover each car you are interested in.

4. Overlooking Long-Term Costs

When visiting a local dealership, most automobile buyers merely glance at the retail value of a car. They do not account for the different long-term expenditures of owning and running an automobile. This is among the many blunders that most automobile purchasers make.

5. Not Shopping Around

You must visit two or more dealerships when car shopping. You’ll have a better notion of what’s there this way. It will provide you with a wide range of prospective cars to buy. If you look around, you will see a variety of vehicle models that may be ideal for you.

6. Selecting Aesthetics over Functionality

Many automobile purchasers want to acquire a car that is appealing or attractive without considering how efficient it’ll be or if it will truly meet their needs. You don’t have to settle with an unappealing car, but you must analyze your requirements. Will the automobile, for example, be able to cater to your family? You don’t have to settle with an unappealing car, but you must analyze your requirements.

Is it a fuel-efficient vehicle? Is it rated highly for safety? Consider all areas of the vehicle, including features, specs, safety and security, engine, ride handling, and engine. Don’t only think about the outside appeal.

7. Not Understanding the Benefits and Drawbacks of New and Used Automobiles

The nicest part about buying a new car is not the new-car feel but the fact that new automobiles are less likely to break down. Even if they did, the dealership’s warranty would cover it.

Second-hand automobiles, on the other hand, offer a benefit. They are much less expensive, and if they were well maintained by the former owner, they could be used for a long time. Most individuals who browse for a vehicle believe that buying a brand-new car is the best alternative.
There’s a lot that goes into purchasing a new automobile, but if you avoid the above frequent car buying blunders, you’ll pull off the lot satisfied and free of buyer’s remorse.