Wanna buy a car? This is the perfect time, one big Texas car dealer tells 1200 WOAI’s Berit Mason.
Ray Huffines, whose family owns a dozen car dealerships in Texas selling Chevrolet, Chrysler, Kia, and Hyundai products, says buying a new car the last week of the year used to be what business owners did to get a tax break. But he says dealers have taken ahold of the trend and made it into a time of deep discounts.
“I think it has evolved into becoming a traditional time, and I think it is largely because people are off work,” he said.
Huffines says many car dealers offer deep discounts on new and used cars, even during boom times for car sales like we’re seeing now.
“Between Christmas and New Years, customers have time on their hands, they are finished with Christmas, and it’s a good time for people to shop,” he said.
Huffines says car salesmen are also highly motivated, because their year end commissions are also on the line during the last week of the year.
Auto dealers are also seeing cars piling up on lots, as a strong first two thirds of 2013 has turned into slowing sales, due to the government shutdown, budget and sequestration fears, and rising unemployment in some areas.
Discounts on both new and used cars are 4% steeper in December from November, and 7% higher than discounts offered in December of 2012.
Honda, for example, is handing dealers $3,000 for every car sold over last year’s numbers, and customers can negotiate to get their hands on some of that cash.
“The mark up between the list price and the actual dealer cost varies differently according to different models,” he said.
Many car dealerships are offering special promotions and extended hours to get you into a new set of wheels before the ball comes down and 2014 is underway.