In a recent study, nearly six out of ten people polled said they start off the vehicle buying process with very little idea of what they want. If you are unsure about what type of vehicle you want to purchase, doing a great deal of online research is a must.
With all of the different vehicle options on the market, it is easy to get a bit overwhelmed. Getting a vehicle that is both reliable and reasonably priced should be the main goal you have during this buying process.
The following are some of the things you can do when trying to save money on your next car purchase.
Bargain Over the Internet
While you will need to visit a lot to test drive a vehicle, the price negotiation and financing portion of this process can be done online.
There are some dealerships that will allow you to have the vehicle you want to be delivered to your home.
Once the car arrives, you can sign off on the loan paperwork and take possession of your dream car in a made of minutes.
Taking advantage of the technology available to you is a great way to save money. Researching the various car lots in your area can help you figure out which one has the best price.
If you do find a cheaper price, be sure to give other car dealerships a chance to either match or beat this price.
Bring Your Own Financing
Getting pre-approved for an auto loan before going out to make a purchase is also a great way to save money. With a third-party lender, you can apply for a personal loan or just a run of the mill car loan.
Most dealerships are limited in regards to the flexibility they have on their loans. Car loan due diligence can help you save a lot of money on interest.
Rather than settling for financing that doesn’t meet your particular needs, you need to speak with a third-party lender. They will usually be able to tailor the loan they offer you to fit the unique needs you have.
Buy at the Right Time
Did you realize that you can get a better deal on a vehicle by making a purchase between August and October?
Usually, dealerships are trying to get rid of the models they have on the lot to make room for a new onslaught of models.
While you may not want to wait to get a new vehicle, it could definitely help you save a great deal of money.
Both my ars were purchased in the month of August, just when the next year’s models were about to arrive at the dealership. They need to vacate spaces for the newer models and hence they give steep discounts.
Trading In Your Existing Vehicle is a Great Idea
If you have no need for your existing vehicle, trading it in is a great way to save money on a new car purchase.
Before trading your vehicle in, you need to visit the Kelly Blue Book website to find out what its value is.
Once you have this information, you will have no problem getting a fair deal when trading your existing vehicle in.
Target Mid-Level Model Cars
While you may be tempted to get a fully-loaded car model, you will usually pay a pretty penny for these extra bells and whistles. Instead of getting the best model possible, why not choose a mid-level vehicle instead?
Generally, a fully-loaded car model will cost nearly 50 percent more than a base model. Before going out to shop for a new vehicle, be sure to make a list of must-have features.
With this list, you can start to narrow down the models available to you with ease.
Don’t Scoff at Pre-Owned Vehicles
Some people are a bit apprehensive when it comes to buying used vehicles. In reality, there are a number of great used cars on the market. The best part about having a used vehicle is the cost savings.
Usually, you will be able to get a used car that is fully loaded for a fraction of the cost of a new car.
The best way to ensure the used car in question is worth the money is by asking for a vehicle history report.
This report will provide details about the repairs that have been performed on the vehicle. With this information, you can decide whether or not a vehicle is the right fit for your needs.
I learned a hard way by going through the Craigslist route. The car was had a serious accident and before it was to appear in the vehicle history, the owner sold it on craigslist. I ended up losing my money. I sincerely ask you to think twice before buying cars from Craigslist or eBay, etc.
Rushing through the new car buying process will usually lead to big mistakes being made. Instead of paying too much money for a car that isn’t worth it, you need to go online and do your homework before making a purchase.
There are tons of online resources that can help you figure out which vehicle is the right fit for your needs.
Readers what else you did to save money on your next car purchase?