The holiday season is in full swing and holiday shopping deals are everywhere! It can be overwhelming to be buying a new car during the holidays with how busy dealerships are, but than possible to cut through the chaos and buy your new car during the holiday season.

Research and Prepare for a Decision

Before you arrive at the dealership, it’s essential to do proper research and be ready for a decision. During the holidays especially, making a quick decision is more than likely because December is a short month, and the best deals move fast! To be adequately prepared, research both your financing options and ideal vehicle. To start your financial research, determine your credit score and how that will affect your ability to acquire loans or necessary financing. From there, decide your desired monthly payment and whether you want to pursue a lease or finance a new or used car. It is helpful to apply for financing at the bank prior to heading to the dealership to help you get a good deal on your rate.

In terms of vehicle research, start by finding the car model(s) that best fit your budget and make a list of your most desired features. From there, get quotes on auto insurance and annual taxes on each potential model. With this combined information, you can walk into the dealership prepared to make decisions on what you do and don’t want in a vehicle and the cost of the vehicle!

Check Available Benefits and Incentives

Holiday deals are everywhere! Don’t miss out on the available benefits and incentives for new car purchases this time of year. As previously mentioned, salespeople are striving to meet annual sales goals, and many dealerships offer incredible incentives to give an extra push to get customers in the door. Special holiday deals can take many forms, from extra cash back on specific car models to free gifts.

In addition to dealership incentives, keep a note of additional incentives offered for veterans, graduates, and other qualifications. Many car manufacturers offer additional rebates for those who recently graduated from an accredited college or university and veterans or active duty in the U.S military. In terms of auto loans, some banks have a special offer for their customers, such as Mechanics offering of .25% off available rates with automatic payment withdrawal from a Mechanics Cooperative Bank checking account. Proper research on what’s available can save you thousands of dollars on your new car, both in the dealership and on financing options.

Shop at the Right Times

Believe it or not, shopping for your car on the right days at the right times can affect the savings attached to your deal made that day. The absolute best days to shop this time of year are Christmas Eve and New Year’s Eve, although not the most desirable for some. This is because the most significant discounts off a car’s MSRP are recorded on December 24th. The reasoning being those holding firm to their request on these days, in some cases, are met with their own personal “Christmas miracle” from those looking salespeople looking to get ahead of their sales goals before the holiday. New Year’s Eve comes in closely behind as the last day of the year and holiday season as available incentives wrap up and sales deadlines are now or never. If shopping on these holidays is not doable, generally shopping on the weekdays is a better time, specifically in the morning.

Avoid Pressure and Ask Questions

Salespeople are trained to put pressure on you to quickly decide on a car deal. When starting conversations around an agreement, the first thing that you should do is to ask about the sales process. It varies from dealership to dealership, and a solid understanding can move things along smoothly without guesswork. From there, once you’ve started to negotiate on different vehicles, be straightforward and upfront about what you’re looking for and in what price range. In conclusion, stick to what you want and don’t allow anything to push you into a premature decision for a deal on a car you don’t love.

Are you purchasing a car this holiday season? Take advantage of the benefits of an auto loan from Mechanics Cooperative Bank! Apply online or contact us today to get started.