The Last Day of the Month Can Really Grant You a Bargain Price
Indeed, purchasing a car on one the last days of the month is half success; however, to look, feel and be ready to tackle the task, the number of the following steps should be taken. Firstly, figure out not only the true cost of the dealer's new car but calculate fair profit of the offer prior to contacting the dealership. Secondly, combine the obtained information with a sort of online auto sales investigation; proceed with comparing the services providing free price quotes on new cars to verify that the price you've already calculated is definitely the lowest one.
As it has been already mentioned, dealer's sales guys have to fulfil their sales plans - some goals to hit and some bonuses to get. By the end of the month these guys are more thinking about just making a deal or two without turning this or these into some kind of the best deal(s) arranged ever. So, while they will be more flexible you should be more persistent; after all, you have your own goals to achieve too.
One more thing that you - the customer - should be well aware of is an extra bonus. This kind of bonus (e.g. retro bonus or a stair-step incentive; every dealer has its own names for it) is given by the manufacturer to its dealer as an added incentive to clear out the inventory ASAP making more room for the latest models. This extra bonus usually ranges between $100 and $500 or even more per each vehicle sold. There is a quota that the dealer has to hit by the end of each particular month; if he fails, no extra bonus will be paid.
Just imagine the following: if the manufacturer provides $500 extra bonus for each Chevrolet Malibu sold in, say, August, a dealer's quota amounts to $50. If the quota is hit, the dealer will make extra $25.000. Quite the sum, right? And what if you are, let's say, the 50th customer walking into the dealership in order to buy this car and you're there on the last day of that particular month? You're just bound to get the best price possible because the dealer will take his extra bonus for that another car retailed during that month. Now you see why the last day in any month is the best for buying a car either new or used.