You've saved enough money to buy your new car, so all you need to do is take your cash down to the showroom, right?

Not necessarily. The time of year you make your purchase could have a big impact on how much you pay.

For those in the know, August often yields big discounts from dealerships because a new raft of registration plates are introduced in September – so sellers want to make way for newer models, offering generous discounts in the process.

But if you haven't quite made your mind up yet, or haven't saved enough money, you will enjoy similar discounts in February, just before the next tranche of registration plates become available.

However, you should bear in mind that purchasing a new car just before the arrival of new number plates will make your car seem older than it is –a factor to bear in mind in terms of possible re-sale.

Quarterly Sales Targets

Otherwise, August could be a great month to think about buying that new car – although other times of the year are worth bearing in mind too. Many salespeople have quarterly sales targets to hit, which means they are more likely to discount their cars in the weeks and days before this deadline.

2015 Models – in 2014

Additionally, in Europe and theUS'next year's' cars are arriving sooner than they once did. For example, a 2015 model may be available in August – another possible reason for a summer discount.

First Generation?

One other point to note when buying a new car is that first generation cars often have teething problems – meaning more visits from your breakdown cover provider. Therefore waiting for an updated model could be a good idea.