Buying a new car is rarely cheap. Other than our homes, cars are the things that we pay the most for. But there are some tricks that could help you to save some serious money on your next car purchase. You don’t have to spend more than you can afford to and plunge yourself into a bad financial situation. Learn more about what you can do below.
Know the Market Average Price of the Car
Once you have decided which car you want to buy, you should start doing a bit of research. This can help you to ensure that you don’t end up paying more than you need to for the car. If you just take the first price you see at a dealership, you’ll probably regret your decision later. By failing to shop around and discover the going rate for the car on the open market, you could easily throw money away. It’s a mistake that is easily dodged, so be sure to avoid it. I’ve used the free used car valuation from Parkers in the past which works well.
Minimise Extra Fees
There are all kinds of added extras that a car dealer might try to sell you before you get the keys to your car. You should reject all these offers because you don’t need any of them, and they just add to the total cost for you. On top of that, you should ask about any hidden fees that are attached to the deal. Sometimes, you can save money by opting to buy from a dealer with lower hidden fees. Always factor these in when deciding what the best way forward for you is.
Opt for an Ex-Demonstrator Model
Rather than buying a new car, why not opt for an ex-demonstrator model? These are always cheaper, but they still have low mileage, which is a pretty big advantage. You could get Volkswagen Ex-Demonstrators for a fraction of the prize of a new car, and it’s important to know that. Many people don’t even realise that this is an option that is open to them. So, don’t close your eyes to all the possibilities and options out there.
Avoid a Loan
If you take out a loan to cover your car purchase, you’ll end up paying more in the long-term. That interest will start to pile up, and it won’t be long before you are paying a great deal more than the original price. Whereas, if you were to pay in cash, you would have the issue settled on the spot, and you would never have to pay anything more for the car. So, wait a little longer and save up for your purchase.
Do you want to buy a used car? If you do, then you need to understand the importance of negotiating. If you don’t negotiate properly, you will not get the best price for the car you want to buy. Don’t be afraid to offer less than the asking price. The seller will then come back with a slightly higher offer, and you can reach a settlement from there. That’s the best way to go about it if you want to save money.