I want to buy 2002 luxury sedan. I know exactly what I want … make, model, color, package, blah blah blah. Can any car dopers tell me 1) when is the best time to find 2002’s AND 2) when would I likely pay the least amount for a 2002?
2002? Well, their major depreciation (1st year) is almost over so it’ll just be a slow and steady decline now.
If you meant 2003, this link:
http://money.cnn.com/2003/05/27/pf/autos/summer_auto_sales/index.htm
may be of interest.
Depending on what you want for a vehicle, rule of thumb is this:
Dealers of Japanese cars rarely offer the incentives that the “Big 3” offer. Such as, no tax days, 0% fianancing for long periods, multi-thousand dollars discounts. Why? They usually don’t need to and they don’t have the “room” in the price to haggle like that.
Most Japanese and European vehicles hold their value better than the US/Canadian made autos from GM, Ford and DC.
You will get your best deal in about 2012.
I read in The Wall Street Journal that the best day to buy any car is the last day of the month. It has something to do with inventories and taxes- dealers have more incentive to decrease their inventories on that day. I believe they said the best day of all is the last day of January.
So tell us; it’d be easier to volunteer any help! We won’t criticize if it’s a Korean car.
Last day of month. Bonus if it’s raining, or a holiday. If a dealer has quotas to meet, and it’s raining on New Year’s Eve, and you actually have an offer that might help him make quota… well, who else is he going to sell it to that night.
A model year 2002 car was probably made in 2001. So buy now. I saw some people get a 2004 mazda as a prize on a game show in april.
It’s a volvo s60. This past weekend, I found the car I wanted; I hesitated, needing a day to think on it; and the next day, the car was gone.
Re: the cnn article … dealer is offering $4000 off the 2003 model. It’s still a bit out of my price range. When would be best time to buy 2003?? Anytime this summer at the end of the month?
What about dealers who claim stickerprice is firm? I’m working w/ one who claims he makes no commission on sales and that stickerprice is firm. I checked the numbers and his prices are comparable to carmax, plus, I’d get a “certified” car w/ a great warranty. (At another volvo dealership, price was much much higher and we wheeled and dealed to a lower number).
My advice from a study I did in business school would be to look into 2 year lease returns once 2004 rolls around. The S80 is a nice family/ businessman’s car and not one that has been severly abused, plus the terms of the lease require regular maintenance and low mileage. That way you have a fair amount of depreciation off the vehicle, should have less than 25K miles on it, and a good portion of the manufacturer’s warranty still intact.
Combine your purchase of this car with all the previously mentioned advise on best time to buy (if getting from a dealer), or look for a motivated seller if going private party, which is the better route in my opinion since there is no ‘sales tax’ they will be adding on, and they won’t typically screw you like dealers do. The headache, of course, is that you need to get private financing, but credit unions offer better rates than the dealers in most cases anyway.
I read an article once about a lady who went to buy a new car on Christmas Eve. She got a fantastic deal because all the salesmen were in a hurry to go home to their families and do last-minute shopping so they gave her whatever she wanted to make her go away.
My guess is anytime after the model year is over. For example, a 2002 car, as was mentioned, was produced beginning in 2001. By 2003, many of the quirks of the car are known, recalls have been issued when necessary, and service bulletins have been sent to dealers. If there is a common problem with the gonkulator assembly in a 2002 Ford Peaowess, by 2003 it’s likely to have surfaced by now.