How To Save Money Buying A New Car - Baltimore Post-ExaminerBaltimore Post-Examiner

How To Save Money Buying A New Car

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When you’re buying a new car, you need to get the best deal possible. That means shopping around, haggling, and being prepared to walk away. This article is going to give you all the information you need to save money when you’re buying a new car.

Ask yourself what you need

This is the biggest way to save money – ask yourself what you really need. Sure, you might want the high-end model of a car, but do you really need it? Have you test-driven all of the models to make sure it’s worth the extra money? A lot of new-car buyers choose the most expensive model without ever driving the cheaper models. Do you need a 4×4? Do you need a car that does 0-60mph in less than 5 seconds? Asking yourself what you need could save you thousands.

Buy an outgoing model

Cars are like any consumer product – when there’s a new version coming in, they want to get rid of the old version’s stock. That means, on an outgoing model, you can sometimes get amazing deals. Check out the latest news in car releases and look for cars at the end of their lifecycle. Getting older cars will also make it easier to find parts for car repairs.

Buy a pre-registered car

Some dealers will buy new cars from the manufacturer and register them in the dealer’s name. That means you are technically the second owner of the vehicle. This can slightly reduce the resale value of the car and will affect your warranty. However, you will get a slight discount when buying the car.

Make sure you negotiate

Car dealers are used to negotiating. In fact, they make room in their margins for it. That means, if you’re prepared to haggle, you could get thousands off the price of a new car. Do your research before trying to haggle. Find out what the bottom-end of the pricing for a vehicle is and go in around that. You should also decide how high you’re willing to go before you start haggling.

Buy at the end of the month

Car dealerships have monthly (and quarterly) sales targets. That means they might be pressured to sell more cars towards the end of the month. You can capitalize on this and negotiate a better deal for yourself.

Shop around

Finding the right car dealer can take time. If you’ve chosen the model of the car you want, you need to check out multiple dealerships to find the right deal. You could even buy the car from another state and have it shipped over with Guardian Auto Transport. You can get an instant quote on the car shipping costs, which should allow you to work out if you can save money overall.

Choose the best finance

The world of financing a car can seem pretty daunting at first. You need to learn the difference between PCP and HP, and you need to shop around for the best deals. Work out what you can afford to pay per month and aim for something slightly lower. The last thing you want is to get behind with your payments.

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