You need to consider several things before buying a new car in Canada. Most drivers know that the make, model, and style of the vehicle will directly influence the price. For instance, a luxury SUV will have a heftier price tag than a traditional four-door sedan.
However, there’s a factor that many drivers fail to take into consideration during the car-buying process — the time of year. It’s true! The month that you buy your car can actually impact the price that you pay.
Continue reading if you’d like to learn the best time to buy a car in Canada and a handful of other tips. Taking the time to learn this information can help you save a significant amount the next time you need to purchase a new or used car.
What’s the best month to buy a car in Canada and why?
There’s no single best time to buy a car; that being said, many experts feel that the following months are more advantageous than others:
- October
- November
- December
How can you save money by buying a car in October?
As you may know, most new vehicles that are introduced at car shows begin to arrive at dealerships in October.
When this happens, most dealerships experience an influx of stock, which can lead to issues if not dealt with promptly. The more models a dealership has sitting around, the more opportunities there are for weather-related damage, theft and vandalism.
In order to prevent these issues from occurring, many dealerships will offer generous deals and discounts on the current year’s models. So, if you’re willing to drive a model from the current year (instead of the upcoming year’s models), you can save a pretty penny.
How can you save money by buying a car in November?
Much like October, November is a fantastic month for buying a new car.
One of the reasons that November is an opportune month is, once again, because dealerships need to off-load the current year’s stock in order to make room for the upcoming year’s models. Buying a model from the current year gives you the ability to save a significant amount upfront.
However, this isn’t the only reason November is a great month to buy a car. Nowadays, most car dealerships offer Black Friday discounts in the latter half of November.
In the past, Black Friday was strictly an American tradition; however, the event is now commonplace in many countries worldwide, including Canada.
Most car dealerships want to get in on the action, so they offer competitive Black Friday deals and discounts. It’s not uncommon for car dealerships to offer enticing financing incentives to drivers that purchase a vehicle within the allotted time frame.
With all of this in mind, it’s relatively easy to see that the month of November is a fantastic, if not, the best month to buy a car in Canada.
How can you save money by buying a car in December?
During the month of December, most car dealerships are finishing up the off-loading process of older vehicles.
However, many dealerships will still have a handful of the previous year’s models on the floor. The sales representatives will be aiming to get rid of these models to make room for their shiny, new counterparts.
Most sales representatives also need to reach their sales targets for a month, quarter, year, etc., so they work extremely hard to earn your business. If you are willing to drive a slightly older model, you can drive away with massive savings.
How can you save money by leasing a car in December?
Many dealerships also offer attractive discounts for leased vehicles for businesses. Dealerships do this because they understand that most businesses are looking for end-of-year tax write-offs.
Thankfully, many dealerships will extend these discounts to drivers that want to lease a vehicle for personal use.
So, not only is the month of December potentially the best time to buy a new car in Canada, it’s also an opportune time to lease a new ride.
How can you save money by buying a used car on New Year’s Day?
If you’re looking for a used vehicle, you may want to consider going car shopping on New Year’s Day.
Some drivers feel that New Year’s Day is the best time to buy a used car in Canada due to the fact that dealerships can put the sales towards the previous year’s earnings. Doing this can help sales representatives meet specific goals or sales targets.
Bonus — Click here if you’d like to learn about getting car insurance for used vehicles with accident history.
Do you need help finding insurance for your new or used car in Canada?
Regardless of the month you bought your vehicle, you won’t be able to drive it unless you have valid auto insurance.
Whether it’s your very first time buying a vehicle, or you’ve been around the block a few times, you most likely want to learn how to find the cheapest car insurance without sacrificing coverage. The answer isn’t simple — unless you team up with Surex!
At Surex, we make finding and saving on car insurance an enjoyable, frictionless experience. After a brief conversation with one of our licensed insurance advisors, you can start comparing quotes from the best car insurance companies in Canada.
We can supply you with ten top-notch car insurance quotes in ten minutes or less (the number of quotes varies from province to province, speak with a Surex insurance advisor for more details).
Reach out to one of our Surex insurance advisors today to learn how you can save up to 25% on car insurance by bundling your policies with one of our providers.
What do you think is the best time of year to buy a car in Canada?
We would love to hear what you think the best time to buy a vehicle is.
Our team feels that October, November and December are the best months to buy a car in Canada. Drivers that are willing to purchase a model from the previous year can take advantage of tempting deals and discounts if they play their cards right. You can also save a pretty penny by purchasing a vehicle on special events or holidays, like Black Friday and New Year’s Day.
Once you’ve picked out your new ride, you can contact your personal Surex insurance advisor to help you find high-quality car insurance that provides the most bang for your buck.
