The Best Times to Make Big Purchases

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Making a big purchase that you have saved up for can be really exciting. But, you need to be sure you don’t rush things and make the smartest purchase possible. When you are looking to buy something big, you should start off by doing research and comparison shopping. One of the most overlooked steps is to ensure you are buying at the right time of year. Use this as a guide for your upcoming purchases to determine the best times to buy.

Transportation

There are two important factors to keep in mind when buying a new car. First, salespeople often work on commission, so the end of the month can be a good time to get lower prices and have extra negotiating power. Second, new car models are released at the end of the summer which is a good time to get discounts on the current models.

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As you might expect, the best time to buy both boats and motorcycles is the winter. Most people aren’t thinking about their warm weather activities this time of year and retailers offer discounts to get people in the door to make purchases.

Most times, airfares should be bought two months in advance and you can utilize a fare forecaster like Kayak.com to see how your trip’s fare is trending. If you can’t book in advance, you can still get a deal because many airlines offer last minute discounts. Follow airlines like Jet Blue on Twitter to get last-minute flight deals. Amtrak’s SmartFares also offers weekly discounted rail deals for travel the next week. 

Electronics

Electronics can be overwhelming to buy because there are so many makes, models and features. If you can stomach the lines and crowds, Black Friday is always a good day for deep discounts. Also, consider Cyber Monday instead to score your deals from the comfort of your home.

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If you are in the market to buy appliances, Sundays are a good day to buy and there are always big sales around major holidays. Plan ahead and purchase an air conditioning unit or fan at the end of the summer to use next year.

If you are in the market for a new phone and are flexible, don’t purchase the latest version of the phone. Wireless providers sell the two older models at steep discounts. While it might not be the most romantic gift for your loved one, there are often two for one phone deals for Valentine’s Day.

Many electronic sales coincide with cyclical events. TVs go on sale before the Super Bowl and laptops are discounted to coincide with back to school. New videos games that were released for the holidays often go on sale the following summer. 

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Home 

Buying a home is one of the biggest purchases most people will make in their lives. There is a lot of legwork that goes into it from researching neighborhoods to securing financing. When you start out on a home search keep in mind that you might be able to negotiate a better deal in the winter because there are less buyers out there willing to search in bad weather or around the holidays. On the other hand, a home search in the spring and summer means there is more inventory available. Renting in many major cities is more expensive in the late spring and summer because there is more competition since most people who graduate in June and move to the city stay on a summer renting cycle.

Many new furniture lines are released in February and August, so look out for sales in January in July to purchase items before the new inventory arrives. Patio furniture always goes on sale at the end of the summer season and you can find good deals on recliners before Father’s Day.

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