New Year -- New Car?
Posted December 25, 2000
WILSON — If you want to buy a new car, this may be the best time of year to make the purchase.
Although on the day after Christmas many people may be thinking about the mall more than the car lot, at dealerships this week, it is a buyer's market.
That is because if you are in the business of selling cars, the last thing you want on your lot is a new car leftover from last year. Dealers do not publicize it much, but this week just might be the best of the year for buyers.
"In this business, a lot of time, we base our business month to month. What the customer's getting, in essence, is the best of both worlds," says Mark Wright of Vester Super Store. "Not only are you getting the end of the month, you're getting the end of the year."
That means special incentives such as low interest rates and high rebates.
One truck on a lot in Kenly told the story. The list price was over $20,000. The price this week is down nearly $4,000. Customer Bentley Massey did not know about the discounts, but was glad to see them.
"We just got some time off and we really hadn't thought about it," he said, "but I guess it's a good time now as any."
Profits vary from lot to lot, but in some cases sales are down for this quarter.
Dealers say they are ready to talk so they can make way for next year's models.
"Everybody's inventory builds up about this time of year. You put on promotions, you put extra money into trade ins," said Ed Luper of Kenly Ford. "You try to keep the thing rolling."