It’s Black Friday – buy a car!

It’s Black Friday – buy a car!

Happy Black Friday everyone! Some of you are just waking up after a Thanksgiving feast of epic proportions (or should I just say portions?). Others are half-way through their day of shopping madness. But if you are in the market for a new car, then today is your day to get a steal.

In a recent article by CBS News Money Watch columnist, Jerry Edgerton, we find a few good reasons to buy a car the Friday after Thanksgiving. Read his full article here. I couldn’t agree more with Edgerton’s sentiments for what could be a perfectly-timed transaction for those of you ready to sign on the dotted line for that new ride.

The popular automotive website, TrueCar, estimates that some models will be discounted an additional 20 percent today. Many of those deals are on 2011 models to help make way for the 2012’s, but they are new cars nonetheless. Check out what other manufacturer incentives are happening today.

Insider Tip: If no major changes are made to a vehicle’s styling or engine offerings, buy the model year at the end of that year because the dealer will be more anxious to move it off the lot. 

After working a few years in the dealership world (in both the F&I and sales capacities), I learned that timing is everything. So here are a few additional tips to get out on the dealer lot today and drive home with the new car that you want:

It makes sense for you to buy your new car today IF:

You know what you want. You’ve narrowed down your selection through online research. Not only do you know what make, model, and year of vehicle you plan to purchase, but you also know what color, options, and other key specs are must-haves.

You know you can afford it. You’ve followed my rules about knowing your price range and sticking to it. That’s why this vehicle is within your budget, which makes for an even happier new-car-owner if you ask me!

You know how you’re paying for it. You’ve got game face on and all your finances lined up – whether cash, check, lease or finance – and you’re not intimidated by the finance manager.

You know what you’re doing with your “old” car. You’ve researched its value and been honest about its condition. You know what it can garner through a trade-in or by selling privately.

If these statements get you riled up like Chad Ochocinco on game day, then you’re ready to go out there and show that salesman what you’ve got!

If you don’t nod your head in agreement with all of these statements, then I’d recommend you wait until you do to buy that new car. Deals can be had any time of year (even January!); so be a smart shopper and go in prepared and ready to drive off the lot satisfied in knowing you got the best deal for the vehicle you wanted.

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Melanie Batenchuk founded Be Car Chic in 2009 as a way to help consumers make smart decisions when buying and selling their cars. Her prior work at the dealership, trade association and manufacturer levels has provided her a deep understanding of the complex facets within the auto industry, making her a leading woman in her field.