Memorial Day is upon us which means it’s about to become one of the biggest weekends of the year for car sales. During Memorial Day weekend, auto manufacturers and dealerships kick off their summer selling season by showcasing their best deals and offering low prices. If your car is on its last leg or if you’re ready for an upgrade, this weekend is the perfect time to get a new ride. Keep reading for five reasons why this weekend is such a great opportunity to purchase a new car.
Dealers are clearing out inventory
Did you know that dealers start clearing out their car inventory for new models at the beginning of summer? That’s right, next year’s car models will begin to arrive at the end of the summer. This means that dealers are looking to clear out this year’s models quickly. You’ll be able to find great deals as well as have tons of inventory to choose from. Whether you want your car to have a red exterior or a tan interior, you’ll find what you’re looking for this weekend.
To get buyers into the store on Memorial Day, dealers provide tons of incentives. These incentives include lower-pricing, rebates, and low-cost financing. Some places even give impressive deals such as extended warranties, free oil changes, or a year’s worth of car washes. Make sure to do your research before heading into a dealership to find out what they are offering and what you can take advantage of.
End of the month deals
Every month, dealerships set goals for the target number of cars they aim to sell and offer sizable bonuses to the salespeople who can reach those objectives. When it’s the end of the month, dealers are more likely to negotiate a good price with you so they can reach their goals and receive their bonuses. Since Memorial Day falls at the end of the month, dealers are more incentivized to give you the price you want.
Upgrade your ride before summer
Summer is on the horizon, which means it’s almost the season of road trips. Memorial Day weekend makes for the perfect time to upgrade your ride so you’ll be ready for all of your summer travel plans. If your family is in need of some extra car space for your road trips, you can find a great deal on a bigger SUV this weekend. Purchasing a new car now will also give you the peace of mind that your car is safe and won’t break down in the 90-degree weather.
Buy before you need one
In general, it’s always best to be proactive and buy a new car before yours kicks the bucket. Even if you want to get every last mile out of your car, if you wait until it’s dead, you’ll be forced to get your next car quickly. When this happens, you run the risk of having to purchase a car for a much higher price. During Memorial Day weekend, you can take advantage of the low prices now instead of waiting until your car breaks down for good.
If you’re looking to take advantage of this weekend’s sales, make sure to secure your financing beforehand with an auto loan from Common Trust FCU. Our ongoing auto loan promotion is offering rates as low as 2.49% with terms at 60 months, 72 months for 2019 models or 84 months for loans of $50,000 or greater. Visit our auto loan promotion page or stop by the branch to get started.