Buy a car? 5 Ways to Save Money For It

No matter what kind of car you need, buy a car is the second biggest purchase most people make. If you’re planning to spend thousands of dollars on your next car purchase, and that’s going to last for a few years. There is no reason to pay the exorbitant amount for a car that will depreciate around 20% of its original value in 12 months. But with the right approach, proper search, and knowledge, you can buy car for less than you think. Here are five ways to save your hard-earned money on your next car purchase.

So you have decided that you need a new car. Now, it’s time to decide that either you need to buy a new or used vehicle. However, buying a new car can be strongly alluring, but buying a used car can be the best financial move. Most of the new cars will depreciate around 40 to 50% within 3 years. 

So buying a car that is 2 or 3 years old can save your hard-earned dollars. How much you can save money is mainly depend on the mileage, car’s age, and car model. The popularity of a specific car brand or model also determines how much you can save. But keep in mind that finds the reliable car brand and well-maintained model that suit your needs. The trick is to buy the one that is not a popular car model at the moment. 

Negotiate via text

Negotiation via text with the salesperson is a great way for various reasons. When you have everything in writing, it comes in handy when you at the car dealership and the salesman forget the discount he was planning to offer you. Moreover, you can reply more appropriately as you can think before replying. Salesmen at car dealerships know how to make customers feel uncomfortable. You can avoid that thing when you negotiate via email. In this modern world where you can do everything online, including buying your next car. Almost all car dealerships have an online catalog where you can see available car models and make a purchase.

Research, Research, and Research

Research is what helps you save more bucks. The more you know the details, the more you can save. It is essential to know what type of vehicle you want and what’s available on the market. If you want to get the best deal for your money, you should know more about price points, brands, and car models.

Shop online or at least start there

This is different from the above point. First, you need to know what kind of car model you want and how your local inventory stacks up. There are some research sites like Edmunds, auto traders, blue books, and CARS N U that can tell you everything you need to know. As a buyer, you can leverage more if you have more local inventory. Sometimes, you may find the same car listed on multiple sites by third parties or dealers. So, check the VIN (vehicle identification numbers) and photos of this model and use the lowest offer.

Shop your trade-in

If you want to trade-in car for your newest car, remember one rule of thumb, shop around. Don’t stick to one dealership store or trade-in your car at the same place where you want to buy your new car. It is true that they may not give you the best deal for your trade-in car. If you are not in a hurry, take your old to other dealerships too and get estimates on your soon-to-be ex-car.

Keep in mind that when you are going to buy a new car, don’t mention your trade-in car until after you have agreed on the final price of the new car. Ask them what they will offer for your old car.

Bottom Line

When you are going to buy a car, make sure to do in-depth research and learn how you can save thousands of dollars on your next car purchase. The above five tips will help you save from getting ripped off. When you have enough research and knowledge, you can negotiate well and demand a price that is pocket-friendly. 

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