For an adult, the ultimate gift from Santa would have to be a car, wrapped in a red ribbon, waiting in your driveway Christmas morning. While it is a holiday fantasy gift for many, does a brand new vehicle really make the best holiday gift?
Ian Beavis, chief strategy officer officer, Automotive Marketing Consultants Inc. (AMCI) seems to think the opposite. He notes that holiday sales events by auto manufacturers are not always about buying cars as gifts for the ones you love, rather the imagery of bows and gifts are marketing tools to enhance memorability during a busy television time.
Yahoo reports that according to TrueCar data, December is the best month for customers on the market for buying a car, and it provides the most leverage for bargaining. TrueCar reveals that between 2012 to 2014, Decembers have always hit the highest average when it comes to discounts from an automaker’s suggested retail price, which is 7.5%.
Still, let’s say you had the capital needed, and wanted to surprise your loved one during the holidays, with the ultimate gift in luxury … where does one even begin?
First and foremost, think about who you will be purchasing the car for. In most states across America, the person who receives the car may have to pay between 2 to 12 percent in sales tax. More often than not, it may be easier and more practical to simply give them money. While most times parents do surprise their children with cars, so the sales tax may not be an issue; should you decide to go a little extravagant with someone outside your immediately family (like a grandparent, or caregiver), the holiday gift could end up hurting their wallet.
The gift-giver also needs to ensure the car is the vehicle of the recipient’s dreams, and not vice versa. Does the car fit the practicality needed for their lifestyle? Will they be able to afford the gas and maintenance on the car moving forward? These are all questions that are needed before diving in, and giving the ultimate holiday gift to someone you love.
Sure, the idea of waking up Christmas morning to a brand new car in the driveway sounds like a romantic idea, but going with the wrong car might turn good intentions into a post-holiday nightmare for the one you love.