Experts Say New Year's Eve A Great Time To Buy A Car - CBS Local

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(CBS) –
Wednesday is New Year's Eve and before you pop the bubbly, you might consider buying a car.

Experts tell CBS 2's Mike Parker it's the best day of the year to get a deal.

As the hours of 2014 dwindle down to a precious few, car dealers are scrambling to meet year-end sales quotas and sell off inventories to save on taxes.

As they are about to close the door on the old year, they are creating what experts say is the best time of the year to trade up.

"Everything comes together, manufacturers are aggressive, dealers are being aggressive," said John Webb of the Chicago Auto Trade Association. "I think the customers have some either Christmas bonus money or what have you flowing through their pocket."

At DuPage Chrysler, Dodge, Jeep and Ram in Glendale Heights, they're making deals.

August Castaldo was one Dodge Caravan buyer Tuesday night. He says he is happy with the deal and that by buying at this time of year, he figures he saved, "probably four or five thousand dollars."

Dealer executive Ron Collins buyers of atypical $36,000 car are "probably looking at savings of 25 percent on some of those cars."

So, when is the worst time to shop for a new car? It's probably springtime. There are more buyers out there, and many are flush with tax refunds. Dealers are less inclined to deal.

Source : http://chicago.cbslocal.com/2014/12/30/experts-say-new-years-eve-a-great-time-to-buy-a-car/