'Tis the season to car shop

'Tis the season to car shop

MYRTLE BEACH, SC (WMBF) - We're just a week away from Christmas which means you've probably done most of your shopping or you still need to. If a new car is on your wish list, you're in luck.

The week between Christmas and New Years is being coined as the busiest car shopping time of the year with leasing hitting an all time high, according to car shopping website edmunds.com.

They're calling the week "New Car, New Year."

The website projects that new car sales during this week will be 78 percent higher than the average week earlier in December. The site says it is common for the last week of any month to average only 40 percent higher than the sales in earlier weeks.

It also says this month is one of the most popular months for luxury car shopping.

If you're looking to ride away with a deal, the website says there will be a wide range of cars at affordable prices because dealers are looking to sell the last of their 2014 models.

In fact, the website projects that year-end incentives will save shoppers an average of 10 percent off the MSRP for 2014 model year vehicles, that's almost double the savings for 2015 models.

It's all about meeting the end of the year quota. Hyatt Buick GMC in Myrtle Beach has 2013 models at 30% off and some of this years models knocking off 20%.

"It's about as good as you're gonna get," said Pat Fire, Hyatt Buick GMC General Manager. "2014 model inventory is starting to dwindle and so the incentives aren't quite as strong on the '15 models so right now the incentives are about as high as you'll see, ever."

If you're looking to buy or lease, local dealers say base it off your mileage habits.

"If you're a low mileage driver, 15 thousand miles a year or less, you should definitely take a look at leasing because the overall cost is significantly less than what a regular purchase would be," said Fire.

Before you go to the dealer, make sure they are reputable. While you research the dealer, look up the car, and lock in a price you want to spend. Finally, before you head to the lot, it's not a bad idea to look into pre-approved financing.

If you need help making a decision, the website has a free service, where you can talk to the pros, and tips from the experts.

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