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Even though an automobile is necessary for most people, buying a new car is still a large investment. Most people can’t afford to pay for a new car or used car upfront. Like any other investment, you need to have a plan to increase your chances of getting great value.
The good news is that you can do several things to put yourself in a better position as a buyer before heading to the dealership.
Continue reading to get more tips to help you save on the purchase of your next vehicle
1. Buy a used car, SUV, or pickup truck.
Are you one of those people who have a taste for the “finer” things? There’s nothing wrong with having a penchant for luxury, including high-end cars and SUVs with heated leather seats with all the electronics and accessories one could desire.
The good news is you don’t have to be rich to leave the car dealership with your dream car. Your best chance of getting great value on a luxury vehicle is to go to a used car dealership.
When searching online for “used cars for sale near me,” you should consider looking for online auctions. They offer vehicles at wholesale prices, and they provide a vast array of used cars.
You can get a BMW, Lexus, Benz, or Audi used at half its original price. Another great thing about buying used is that you typically only have to make a 10% downpayment rather than 20% on your car loan.
2. Go to a car dealership with an excellent reputation.
Whether you plan to buy a used or new car, one of the most important aspects of getting a great vehicle price is choosing the right dealership. Because your vehicle is a large investment, you need to find a dealership with knowledgeable and friendly team members, vehicle financing.
If you take your business to the Artioli Chrysler Dodge Ram car dealership in Enfield, CT, you know you and your car are in excellent shape for the life of your vehicle. They offer excellent customer service, vehicle financing through third parties, and comfortable, hassle-free price negotiation.
3. Pay a mechanic to inspect the vehicle.
One of the most frustrating things for used car buyers is finding out the vehicle is a lemon shortly after leaving the dealership. Before you buy any used vehicle, you should always have a certified mechanic give it an extensive inspection to ensure the car is in excellent shape.
4. Stick to a firm budget.
Whenever you go to a dealership, after you’ve chosen your vehicle and you’re filling out paperwork, the salesperson may try to convince you to purchase an extended warranty or protection package. You can’t blame them; it’s how they get paid. However, if you add on more than you can handle, the result could be you losing your new vehicle in less than a year.
When you’re planning to buy a new car and saving for your down payment, you should also be figuring out how much you can afford to pay monthly for your car loan. If you feel that the add-ons and premium features are necessary, be sure not to exceed your monthly budget for your new car.
5. Improve your credit situation.
The interest rate you get on your car loan has a significant impact on what you’ll pay for your new vehicle. Improving your credit situation will make it so much easier to get car financing, decrease your interest rate, and significantly lower your final vehicle price.
The keys to getting a great deal on your next car are to buy used, choose the right car dealership, get an extensive inspection on the car, skip the extras, and work on your credit. As long as you stick to your guns at every step of the car buying process, you’ll drive away a winner.