If you’re thinking of buying a new car in Ontario, it’s best to do your research and wait for the perfect time. As exciting as getting a new car can be, waiting for a few months can be a significant game-changer in terms of getting a good deal, as car prices continue to rise over the years.
Here’s everything you need to know about the best time to buy a car in Ontario and what factors affect prices throughout the year.
Does the weather and new releases affect car prices throughout the year in Ontario?
Since a lot of car manufacturers are gearing up for new releases in the succeeding year, the end of the year tends to have better deals on other cars. With car sales slowing in general due to people staying indoors, car salespeople also try their best to put out deals. The sales numbers for every year go on to show a noticeable drop in car sales towards the end of the year due to the weather, especially if you’re living in a region that gets a lot of snow.
What other factors affect car prices throughout the year in Ontario?
On top of that, the end of the year, the end of every month in every year, or the end of a fiscal quarter incentivize salespeople to lower prices in order to get more sales and hit their monthly or yearly targets.
It’s also easier to negotiate with them in such conditions as they’re far more likely to be flexible. Holidays that align with these times (such as Black Friday or Thanksgiving promotions) further tend to improve your chances of getting a good deal on the car of your choice. It’s always a good idea to wait till the end of the year to look for the best price on the car you’re eyeing.
What are the best months to buy a car in Ontario?
Based on the above factors, the last four months of the year are the best time to buy a car in Ontario. Out of those, November and December specifically tend to have the best deals, since they fall at the end of the year, get a lot of snow, and have a number of holiday promotions going on.
How can I get the best deal on my car insurance as well?
While these factors will help you get the best deal on your car, there are several other factors that affect car insurance. It is mandatory for all car owners in Ontario to have insurance, and understanding those factors can help you get the best deal on your insurance as well.
In three simple steps, MyChoice helps you find the best quote for your car insurance based on your profile and basic details. You can get a personalized quote within a couple of minutes using our free tool here.