Final week of year big for major purchases - FOX34 Lubbock

Final week of year big for major purchases

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LUBBOCK, Texas -

The last week of the year it he best to buy the car of your dreams, according to data from Cars.com.

Automakers are pushing to meet year-end sales goals, hoping to clear out their final inventory from the outgoing model year. This will help buyers get clearance prices.

However, experts recommend caution. Talk to a financial adviser before putting pen to paper. 

"Does the auto have a warranty, does it come with a warranty or also what is the cost of the insurance because it is required of course for homes, mortgage and auto," said Lauri Moreno, branch manager at Alliance Credit Union. "What the cause of the insurance? Is there is also going to be a down payment required, and also you want to make sure that the purchase you are making is going to fit into your budget."

Along with buying cars, analysts say closing on homes this week can be financially beneficial, since most lenders will be offering lower rates on mortgages. 

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