QWhat Months Of The Year Can I Find The Lowest Interest Rates On Car Loans?
AThe lowest interest rates are to be had in the summer and fall months, when car dealerships and manufacturers are trying to clear out last year's models to make room for the new cars that will be coming in. Think of it as a clearance sale. Another great time to take advantage of low-interest financing is when the different vehicle manufacturers begin to compete for business by offering specials such as low interest rates or rebates. Some of the lowest rates are to be had during the holiday season. Since people aren't usually buying cars at this time of year due to spending their money on holiday gifts and parties, dealers are usually willing to negotiate a great price in order to move inventory and make a sale; and that means they're also usually more willing to negotiate their interest rates. Another time that dealerships are worried about moving inventory is at the end of the month. If a dealership manager hasn't made his monthly quota and you come in at the right time, he's going to do whatever he can to turn you into a sale, and that equates to a great savings opportunity for you.