5 Ways Buyers Can Save Money on Their Next Vehicle Purchase

For most people, driving is an essential part of everyday life. Whether you depend on your car to get to work, shop for groceries, or drop your kids at school, you’ll need a reliable vehicle to help you along the way. Unfortunately, even the most well-tended cars will eventually hit their high-mileage breaking point.

While it may be tempting to brush issues under the rug or fork out the big bucks to fix your treasured car, it’s safer and more cost-efficient to start fresh with a new model before your vehicle gives out entirely. 

Before rushing into a purchase, however, there are a few things you should keep in mind. Cars can be a costly investment as fees, insurance costs, and hidden charges add up. Avoid typical mishaps and save big by implementing a few tried-and-true car-buying pointers.

Buying out of state? Slash your shipping costs

When searching for the best deal, people often look for new vehicles out-of-state to secure the best deals.

However, navigating a remote purchase can be daunting without a thorough understanding of the process.

Before you hand over your credit card info, verify the VIN to ensure your vehicle’s authenticity and read through history reports to avoid hidden damages from previously crashed cars.

Ask for pictures, verify the seller’s reputation, and utilize remote mobile inspectors for a thorough inspection before purchase. 

Once you’ve landed on the perfect fit, consider utilizing vehicle shipping services for safe and insured delivery.

To save on transport costs, ship your vehicle during the off-seasons and remain flexible on delivery dates. 

Use the internet

The first rule of car buying is doing careful research.

After narrowing down models to a few top choices, compare pricing, features, and reviews to help you make a final decision.

Take advantage of the internet’s broad reach and scour the web for helpful resources.

Find online negotiators that will do your dirty work for you, read through pages of testimonials, and gain access to cars outside your local area to ensure you get the best bang for your buck. 

Don’t overlook your trade-in options

It’s common for individuals who are purchasing a new vehicle to trade in or sell their old car.

You can certainly trade in your old vehicle to act as credit for your new purchase.

This strategy is beneficial if your used vehicle has a high-profit potential, as the buyer may provide a better offer on the new car.

Trade-ins are a great way to save money and evade the stress of selling your vehicle. 

Explore payment options

If possible, using cash to buy a vehicle allows you to avoid interest on loans.

However, because car loans can be brutal, that option isn’t available for some individuals.

It’s essential to thoroughly research and compare your loan options and read the fine print to ensure you don’t end up with extravagant interest rates and fees.

Consider buying older vehicles

Often people avoid buying cars marked as older because they’re afraid of purchasing a potentially issue-filled model.

However, older vehicles aren’t always used.

Dealerships end up losing money on cars the longer they spend on the lot, so you will likely get a better offer on one that’s been sitting at the dealership.

Look at the build tag on the vehicle’s door jam to figure out how long it’s been at the dealership. If it’s more than three months, you may be able to squeeze out a discount. 

Watch out for excessive fees or warranties

Some car-buying fees are unavoidable.

However, you should look out for excessive expenses often tacked on by dealerships.

Do thorough research to understand which are negotiable and which are inevitable. 

The bottom line

A new vehicle is a great investment. Avoid hidden fees and scammy dealerships by doing thorough research and exploring the numerous car-buying opportunities.