It is easy to get overwhelmed when looking for a new car in today’s auto market because there are so many choices. Even though you should always be sure to purchase a car that is best suited for your needs, the cost is always going to be a major contributing factor. What can you do to get the best deal and save money?
Trade in Your Old Car
One way to save money on a new car is to get money on your old one and reduce the amount you need to finance.Here are a few suggestions on how to get the most money when trading in your car:
- Clean your car and fix little nicks to make it look the best it can. The value is estimated in part on its appearance.
- Sell your car to a used car dealer even if it isn’t running. If you want to see how much money you can get for your used car, try searching for “junk a car for cash near me” on
- If your car needs repairs, get an estimate from anyone other than the dealer so that you can bargain with the knowledge of how much the repairs will really cost. It is better to be informed rather than rely on the dealer to give you their estimate for repairs.
Take Your Time
If you appear too eager to buy a car right away, you will lose some of your bargaining power. It’s better for your wallet if you present yourself as being in the “just looking” phase as opposed to needing a car immediately. If you tell a car dealer that you just had a car accident and need a car right away to get to and from work, you can rest assured that the dealer will not give you the best deal.
Know Your Options
If you are buying a car from a dealer, they like to arrange for your financing. Don’t rely on them giving you the best rate. Before you go to a dealer, check your credit score and see what kind of interest rate you qualify for from other sources. This way you will know if the dealer is offering you the same deal you can get elsewhere. If they don’t, you can show them what you found from your research and give them the opportunity to match the offer. If they won’t, don’t get your financing from the dealership.
Time it Right
The best time to buy a new car is when dealers have their end-of-the-year sales. They try to get rid of last year’s models and meet their year-end goals. According to USAA, because fewer people venture out to car dealers in the cold winter months, you can probably get a better deal when the demand for cars is low. Finally, according to Autotrader.com, car shopping at the end of the month can save you money because many salespeople are anxious to meet their end-of-the-month quotas.
If you are working with an overly aggressive salesperson, leave or find someone else. Don’t be fooled by a well-dressed salesperson. Behind the professional work attire is often a wolf waiting for someone to become a victim of fake loyalty. The salesperson does not have your best interest at heart. You must be an informed and educated consumer so you can make the best purchasing decision.
Don’t Buy What You Don’t Need
Although it might be tempting to want all the bells and whistles you can get on your car, in order to keep the cost down, you might have to do without things like wipers on your headlights. Do you really need that anyway? When your goal is to save money, you should stick to basic models.
Use The Internet
Before walking into a car dealership, use the Internet to become better informed and to get price quotes. The more price quotes you have the better. You can use these quotes when you go to a dealer to show them what you can get from their competitors. The salesperson will want to get your business and will do everything possible to match your lowest quote.
Keep in mind that on most websites, you will be asked for contact information before you can get a quote. The reason for this is because they will want to contact you and they will. When they call, be sure to let them know you are working with many dealers and ask them for their best price. Don’t forget to ask them to include all dealer fees and extra processing costs. Sometimes dealers will leave these costs off a quote and surprise you when it comes time to pay.
As long as you remember that the only person with your best interest in mind when buying a car is you. Do your research, know your options, get many price quotes, and negotiate with a dealer to save the most money and get the best deal on your new car.