Automobiles are among the most expensive purchases most people ever make. Outside of homes, many of us don’t own anything pricier than our vehicles. That being the case, it’s easy to see why replacing a car is often a cause for dread. No one relishes shelling out thousands – if not tens of thousands – of dollars for a new vehicle, regardless of how financially stable they are. While there’s no denying that a new vehicle stands to set you back quite a bit, there are numerous ways you can save big on your next car.
Try Your Hand at Haggling
For many car buyers, haggling is a vital part of the process. In fact, many sellers enter negotiations fully expecting to receive less than the asking price. You can help strengthen your arguments by doing a little bit of research – i.e., looking up a vehicle’s market value and what other individual sellers or dealerships are asking for it. The absolute worst thing that can happen in these circumstances is the seller telling you ‘no’, so even if you’ve never haggled before, there’s certainly no harm in starting now.
Explore Pre-Owned Options
It’s easy to see why some people tend to shy away from used vehicles. Considering how large an investment a car represents, it’s only natural that you’d want your next vehicle to be in the best possible condition. While it’s true that some pre-owned vehicles have seen better days, a fair number of them – particularly certified pre-owned cars – can offer first-rate reliability and affordability.
If anything, shopping for new vehicles dramatically limits your options. For example, if you’re in the market for a vehicle that’s over two years old, odds are you’re not going to find it new. On the flipside, buying used ensures that you have an enormous range of vehicles from which to choose – many of which are liable to fit perfectly into your desired price range. Furthermore, many dealerships have extensive selections of certified pre-owned vehicles from which to choose. Arizonans in the market for amazing pre-owned deals should do a search for “Chevy dealer Tempe.”
Have the Vehicle Inspected
After you decide to go the pre-owned route, make a point of having any vehicle you’re seriously considering purchasing meticulously inspected by a mechanic. This will help ensure that you’re made aware of any cosmetic or performance issues that aren’t readily apparent. Should any hitherto-unknown issues be revealed, you may be able to command a lower asking price for the vehicle in question. Furthermore, if any of these issues are severe, it may just be a good idea to move on to other options.
Wait for Sales Events
Patience is a virtue – particularly where car buying is concerned. So, if you aren’t in immediate need of a new vehicle, you may want to consider waiting for a large sales event. Depending on the type of vehicle you’re hoping to purchase and the scope of the event, you stand to save thousands on your next vehicle purchase. Additionally, many dealerships tend to offer their best deals at the end of the month. Cars that would otherwise be well outside of your price range are liable to become considerably more affordable during the right sales event, so if waiting is a viable option, you might do well to exercise a little patience.
Amend Your Expectations Accordingly
Everyone has their ideal vehicle. Being able to afford that ideal ride, however, is a different matter. While there’s nothing wrong with making your vehicle preferences known, it’s important to accept that your dream car may be well outside of your price range and that buying the car you need should take precedence over buying the car you want. Setting a workable budget and amending your expectations accordingly can help prevent you from breaking the bank when it comes time to replace your current vehicle.
Always Try to Pay in Cash
You can save a significant chunk of money if you pay in full for your car using cash. Otherwise, you will have to pay a lot in terms of interest alone if you go for a loan. Hence, better try your best to avoid taking any kind of loan for the payment of your next car. You had better wait for some more time till you manage the full amount on your own. Moreover, some car dealerships also offer cash discounts to their customers. So, it is highly advisable to go for the cash option.
Be Brave to Negotiate
Some customers assume for themselves not to bargain with the car dealers. They often feel shy while negotiating about the final price to be paid for the vehicle under consideration. As a matter of fact, it should never hurt to negotiate the price of a car. This is particularly true if you have also noticed some minor flaws. It has been found practically true that those daring in this regard can lower the price at least several hundred dollars. First they get a complete know-how of the market prices and then argue forcefully. To your surprise, they are quite willing to walk away rather than to pay the unfair price being demanded by the car dealer.
Be Patient in the Entire Process of Research and Purchase
Some buyers have the mindset that they will drive home in the new car the same day. Hence, they operate the whole process of research and bargain with this mindset which is the worst thing to do when it comes to trying to save money while buying a car. You must, therefore, remain patient throughout if you want to get the maximum benefit.
Although most of us wouldn’t mind having some new wheels, the actual car-buying process can be a chore and a half. Given how pricey most new vehicles are, it’s not hard to see why so many people try to stick with their current cars as long as possible. However, while every vehicle purchase is bound to involve spending a significant sum, saving a fair amount on your next car should be entirely within your abilities – especially with the previously discussed tips at your disposal.