Ahh, the joys of buying a new car. For me, other than purchasing my house, buying a car is the second largest purchase I have ever made. Thus, car buying an be a stressful experience if you do not go prepared. Ensure you are spending the least amount possible and buy a dependable vehicle with these money saving tips!
Do Your Research
Even if you already know you want a truck, SUV, car, or minivan, there are so many different options on the market. Spend time researching similar models from various companies to determine what you prioritize, and which company gives the most bang for your buck. This will also give you a realistic understanding of what you will be paying for a specific type of vehicle.
Get the Internet Price
Once you have determined what vehicle you want and find a local dealer that has it in stock, consider inquiring online. Most dealerships have an internet sales department for the sole purpose of sending you the best E-price and then scheduling a time for you to come take a test drive. This internet price is often much lower than what you would pay if you simply showed up at the dealership and had a salesperson work you up a price.
Be Shrewd with Financing
Dealerships can make quite a bit of extra money from in-house financing by jacking up your percentage rate to make a profit. Don’t be their next victim, instead secure financing before you come in to buy a car. Credit unions are a great avenue for affordable financing but be sure to shop around for the best rate.
Carefully Consider When You Buy
If you are planning to purchase a brand-new vehicle, timing is crucial. You can save yourself thousands on a brand-new car, by waiting to the end of the year. Dealership are already getting in the next years models and are desperate to move last year’s vehicles. If you need a car now or are planning to buy used, be sure to wait near the end of the month to buy as dealerships are anxious to meet quotas and therefore more apt to make great deals.
Check Out Certified Pre-Owned VehiclesA certified pre-owned vehicle may be the perfect choice if you want all the benefits of a new car without the steep price. These models are recent years with very low mileage. They are superior to traditional used cars as they come with an extensive inspection, followed by repairs, and are then certified with warranties that are often better than what you get with a new car.