Portland, Oregon (PRWEB) January 23, 2014
According to the National Auto-Lending Council, more than $300 million will be spent on new cars in the first month of 2014 alone. Complete Auto Loans believes that up to 10% of this amount is needlessly wasted by consumers that do not pay attention to patterns in new car pricing. The latest report from Complete Auto Loans shows a great deal of variability in car prices throughout the year, with the highest prices coming at the beginning of the year and early in each month.
Complete Auto Loans found that the best time to purchase a car was at the end of the month, taking advantage of seller "desperation" that comes when a dealership is not on track to meet manufacturer specified sales quotas. When a dealership falls behind during a month, they often discount their new cars to below the normal retail price, taking a marginal loss on each additional car sold in order to receive the guaranteed payout from the manufacturer's incentive.
Complete Auto Loans also found that car prices tended to vary on a seasonal basis for certain car models. For example, convertibles were lower priced during the winter because dealerships realized that the demand for these cars was lower, and they didn't want to get stuck with additional inventory in a season where it would be difficult to move those vehicles.
Complete Auto Loans is a Portland-area car lender that specializes in linking car buyers with low-cost financing options. Because many of CAL's customers are first-time car buyers, Complete Auto Loans publishes a series of papers and guides that walk prospective car owners through the buying process. Complete Auto Loans estimates that active monitoring of car prices and the use of a good negotiation strategy can save the typical car consumer almost $4,000 through the life of a typical car loan with more favorable loan rates and a lower purchase price.