Don't Wait Too Long Before Buying a Leftover Model
To maximize savings, you want to wait until dealers start getting desperate to get rid of them, but you don't want to wait too long.
A vehicle is considered a leftover model when the newer model year starts hitting showroom floors. The leftover models need to be cleared out to make room for the new ones. Most cars become leftover models between July and October, and you will usually still find them on dealer lots until January or February - sometimes longer, sometimes less depending on the popularity of the vehicle.
Some car manufacturers wait until the very end of the year to introduce the new models, so it all depends on which car you're interested in. When a new model is introduced, that means the previous year's model probably stopped production a couple of months prior.
If a new model is introduced in September, the leftover version probably stopped production in July - which means there is a limited number of vehicles to choose from. If you wait too long to purchase one, you risk being stuck with colors and options you may not be happy with.
Generally, the most popular colors and styles get sold first, leaving the undesirable ones on the lot. Getting a good deal on a leftover model with the colors and options you desire is more an art than a science. You really need to keep an eye on the market and constantly be on the lookout for discounts and inventory.
If you wait too long, you're going to have a very difficult time locating a vehicle you'd be happy with. Therefore, you need to be proactive if you decide to buy a leftover model. You can't just assume the longer you wait, the better outcome you'll have. A lot of car buyers are taken by surprise when they realize the car they've been waiting for isn't available anymore. Don't let this happen to you.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.
Step 3 Complete my ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid