December is traditionally the busiest shopping month of the year, and most retailers offer sales and incentives to get people who are out shopping for Christmas to enter their stores and buy their products. This is especially true of car dealerships, which pull out all the stops in the last month of the year to sell vehicles and unwind their existing inventory. This means that December is traditionally the best time of year to get a great deal on a car, truck, minivan, or SUV. In fact, TrueCar.com estimates that car prices in the U.S. are between 8% and 10% lower in December than any other month of the year, making the holiday season an attractive time to splash out on a big purchase such as a new vehicle. Here are 10 reasons why it is a good idea to buy a car in December.
10. It’s Bonus Time
It’s no secret that the sales staff at car dealerships work largely on commission. The more cars they sell in a given month, the more money they earn. However, most car dealerships also provide their sales staff with added incentive in the form of bonuses based on how many cars they sell for the year. Some dealers also provide year-end bonuses specifically for sales staff who move inventory off the lot in December and help the company meet its annual targets. What does all this mean for you, the car buyer? It means that the sales staff at a car dealership will be extra motivated to sell you a car in the month of December. And, they will likely agree to more favorable terms just to get you to agree to buy a vehicle so that they can count it towards their sales total for the year and increase their personal bonus.