End of the year best time to buy new car - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

End of the year best time to buy new car

Forecasters say a little less than 1.5 million new cars will be sold in the U.S. this month alone. Forecasters say a little less than 1.5 million new cars will be sold in the U.S. this month alone.
Bob Neff at Ford Groves in Cape Girardeau said his dealership will sell as many cars this last week of December as they did the first three weeks combined. Bob Neff at Ford Groves in Cape Girardeau said his dealership will sell as many cars this last week of December as they did the first three weeks combined.
Analysts with Kelley Blue Book say the last day of the year is when you'll get the best value if you're purchasing a new car. Analysts with Kelley Blue Book say the last day of the year is when you'll get the best value if you're purchasing a new car.
CAPE GIRARDEAU, MO (KFVS) -

Forecasters say a little less than 1.5 million new cars will be sold in the U.S. this month alone. That's up 5 percent from last Christmas and the 31st of December may be the best day of the entire month to buy.

Bob Neff at Ford Groves in Cape Girardeau said his dealership will sell as many cars this last week of December as they did the first three weeks combined.

Neff said there used to be a tax that dealers paid on the inventory they had left on the lot. Now, he said that doesn't exist anymore but the tradition of buying at the end of year and holiday season is still in full swing.

Analysts with Kelley Blue Book say the last day of the year is when you'll get the best value if you're purchasing a new car.

Neff said it's not just individuals buying cars either.

"We also get a lot of commercial business in the last month of the year because doing their taxes accountants might say buy something this year as opposed to next year so there may be some tax incentives for companies to buy vehicles," Neff said.

According to Forbes, offers come with cash rebates, cut-rate financing, and lease deals on the 31st.

Researchers say in most cases, the 2013 models will offer the most incentives so dealers can make room for 2014 models.

Copyright 2013 KFVS. All rights reserved.

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