In the Market for a New Vehicle, Is Now the Right Time?

Purchasing or leasing a vehicle as we all know is not a simple task or a straight-forward process.  Whether you are acquiring your first vehicle or your 5th vehicle, the process does not get any easier or less frustrating.  Buying or leasing a car at any time in your life is a big deal and an expensive purchase.  But what if you knew there were certain things took look out for when acquiring your vehicle?  In fact, there is a right and wrong time to get the best deals.

As somebody looking to acquire a vehicle, the first question you should ask yourself is about timing. Is now the right time?  If you do not know the answer to that question than you are in the right place.  Believe it or not getting the best deal possible on your new vehicle comes down to the intricacies of what day of the week it is, what month it is, and what time of the year it is.  Certain holidays during the year also bring potential opportunity for getting a better deal or lease terms as well.

To elaborate on the best day of the week for vehicle shopping, Monday historically has always been the best day of the week to negotiate a great deal.  The speculation as to why that is comes down to weekend shoppers. There is a higher chance the sales team has hit their weekend goals, so that come Monday, shoppers may get a better deal or more attention.

Do not forget though there is also a particular month you should go car hunting.  According to Cox Automotive, between the years of 2013 and 2018, data shows that May is the month when dealerships have the most foot traffic.  This could be attributed to the “aggressive holiday incentives and promotions” for Memorial Day.   Presidents Day, Memorial Day, July Fourth, Labor Day, Black Friday, and New Year’s Eve area all holidays that offer up great opportunities to walk away with that best car deal.

With all this being said, determining the best time to lease a vehicle may be out of your control, but Swapalease.com is here to help every day of the year. Visit www.swapalease.com to find your next lease deal.

2020 Hit the Auto Industry Hard, but Ended on A High Note, Why?

With the complete uncertainty and dreadful concerns surrounding the topic of Coronavirus, 2020 affected every aspect of normal day life, including greatly affecting the auto industry. The uncertain expectations that the year 2020 brought to the Auto Industry led to it suffering terribly, with sales being at an all-time low around the months of March and April, when the country went into lockdown.  What is interesting though, is there was a resurgence of auto sales which ended the year on an unexpected high note.  Which leads to the question of why the increase in sales?

One of the reasons why the auto industry took a positive turn in the right direction would be the implementation of the Covid-19 Vaccination.  The optimistic thought that the vaccination would enable consumers and businesses to return to somewhat of a “normal” lifestyle boosted the sales in the auto industry.

Another reason why sales increased would be the influx of people buying vehicles to avoid using the means of mass transit.  People also found themselves in situations where they had the opportunity to escape areas heavily affected by Covid-19 and relocate.  Another interesting reason why sales had increased is because people where finding more interest in purchasing light trucks vs. passenger vehicles, companies claim that they would have sold more light trucks if they had the inventory to keep up with all the orders.

Another interesting take on why the automobile industry did so well at the end of the year, would be how while some people faced economic problems others did much better economically because of not spending the amount of money they normally would on entertainment such as eating out and vacations.  Therefore, leading to an increase in used vehicles being sold and luxury vehicles.  It should be interesting to see what direction the future of the automobile industry goes in as the pandemic continues, but hopefully, nears an end.