Be aware of Demo or Test drive cars !
Be open to Expand your choices
Being aware of Demo or test drive vehicles may offer you an opportunity to expand your options.
Often times dealers have dedicated vehicles for the purpose of Demo or Test drive. Usually these cars are available at discounted prices, which may add to your savings.
Additionally, there may be a chance for you to consider “Old Stock” vehicles.
Manufacturers usually do their model year changeovers between August and November, but I’ve seen them do it as early as January. The rule is: they can release next year’s models in mid-year. It can get confusing, but that’s just how the industry works.
A vehicle is considered an old stock, when the next year’s models start showing up on dealer’s showrooms.
It doesn’t matter if the leftovers are still current-year vehicles.
Local Distributors & Manufacturers alike start getting worried whenever too many old stock vehicles pile up. These stocks may compete with the newly arrived vehicles, hence pose a threat. Dealers need to make room for all the new inventory, so manufacturers tend to bump up incentives on these leftover models, especially towards the end of the year.
Does it pay to wait and buy a leftover model?
It depends – sometimes dealers are able to sell the leftovers with ease; other times, they get desperate and are forced to slash prices. Usually, it’s the latter, so in most cases, a leftover model should save you money.
However, you should be prepared to keep the vehicle for many years, so the depreciation doesn’t outweigh the savings. A leftover is technically considered a one-year-old vehicle when you purchase, even if it’s a current year model. Also, keep in mind the longer you wait to buy one, the more likely you’ll get a better deal – but, you’re also less likely to get the colors and options you desire. Leftovers are always part of a diminishing supply, so keep a close eye on the market to help you decide when to purchase.