We’ve all been through it: we spend hours and hours trying to look for the best car for our needs, and we end up paying for something that wasn’t entirely worth it. But if you’re lucky, you don’t have to go through that on your next vehicle purchase. Of course, it’s not just a matter of luck, either – it’s also a matter of know-how. You can be a savvy car buyer before you know it, and you can take advantage of some great methods for saving money when buying a car. But what are the top things you can do to save money when purchasing a car? Let’s find out.
- Go the cash route
If you can afford it and have savings, why not pay for the car in cash? Money talks, as they say, and it will definitely talk once you go to a dealership and pay for the vehicle in cash. You can save a lot of money with this because you don’t have to contend with loan interest, and many dealerships can offer great discounts to customers who pay in cash.
- Don’t neglect to compare
If you have the time, you can also compare the different rates offered by various car dealerships. Shopping around will give you a good perspective on what you should allot for your next car, and you can have the upper hand if you decide to negotiate with dealers, too.
- Do the proper research
Another surefire way to save money on your car purchase is to do the proper research first. Before you begin looking for your next vehicle or approach a dealership, it pays to find out the actual market value of the car/s you have in mind. You can check out the car’s value via sites like Kelley Blue Book, and you can input the model and make of the car/s you prefer. You can also view the car’s Consumer Report if you want.
- Consider used and auction cars
If you aren’t too picky with your purchase and are okay with driving something second-hand, why not go for a used model? Many buyers are now opting for used vehicles because they give a lot of value and bang for the buck, and many are still in excellent condition. Used car Utah dealerships like Young Automotive, for example, have a bevy of used cars for sale that are just two to three years old. With a used vehicle purchase, you may even be able to drive around in a car you’ve always wanted but couldn’t afford if you were to buy it new. Auctions cars or autos are also a good idea to buy for a much affordable price but the quality is good. As the pandemic keeps hitting the auto industry, online auto auctions have increased in popularity among resellers.
- Don’t hesitate to negotiate
You may think that negotiating isn’t for you or you’re not good at it, but you have nothing to lose if you try. It doesn’t hurt to ask for a better deal or a lower price, particularly if the car has some minor issues or flaws. And this is where knowing the car’s value comes in handy as well: if you know its actual market value, it’s easier to negotiate, and you can most likely walk out of the deal, saving a few hundred.
- Swap or trade-in your old vehicle for a new one
You can also trade in your old vehicle for a new one, and many car dealerships allow trade-ins, giving you credit for a new car.