Holiday Car Shopping Tips for Consumers

As the holiday season approaches, many consumers are turning their attention to car shopping, particularly in December, which is considered by experts at Edmunds to be one of the best months to purchase a vehicle. Ivan Jury, the Director of Insights at Edmunds, shares useful tips for consumers looking to navigate the car-buying process during this busy period. With interest rates beginning to decline, buyers are encouraged to assess whether they're truly getting a good deal when purchasing. Key factors to consider include researching what others have paid for similar vehicles, understanding local inventory levels, and recognizing the trends in both electric vehicles (EVs) and hybrids. There has been a notable shift in consumer preferences, with EVs now presenting better deals compared to traditional vehicles due to increased manufacturer incentives. Consumers are recommended to thoroughly test drive vehicles under real-life conditions to ensure appreciation and satisfaction, thereby avoiding negative equity. Additionally, considering leasing options and understanding the financial commitments involved is essential for making informed decisions. For those contemplating an electric vehicle, it's advised to determine whether a new or used model suits their needs, and to test the practicalities of EV ownership through short-term rentals. Overall, consumers are urged to take their time and thoroughly evaluate their choices.