Tips That Can Help You Save Money When Purchasing A New Car

· We all know that buying a new car requires an individual to have a lot of cash. This is simply because cars are not cheap machines and can only be affordable to a few individuals in the society. Therefore, the following are just some few tips that can help you to save a lot of cash when you want to purchase a new car;

Do Research

· Before you visit a car dealer to purchase a new car, carry out an extensive online research.

· There are numerous websites on the net that deal in both used and new cars.

· The first thing for you to do is to identify the particular car model that you want to purchase After that go ahead and browse through different websites that deal in the particular car you intend to buy ensure that compare their prices.

· Once you are done with that, only settle for the car dealer who sells at the lowest price.

Negotiate Purchase Price

· Most car dealers do sell their cars at negotiable prices.

· However, if a buyer does not know that he/she has a right to bargain, then the seller will not inform him/her about it.

· Many people have lost lots of money purchasing cars at higher prices due to their ignorance.

· Before you purchase any item not only cars, always make sure that you ask the seller whether the selling price fixed or negotiable.

Ignore the Extras

· If you go to a car bazaar you are likely to come across very nice cars that have some very attractive features.

· It is also true that different cars of the same model may come with different features for instance sunroofs, air conditioners and etc.

· If you want to save your cash always go for the cars that only have the most necessary features.

· Always try to avoid those that have features like golden alloy rims and etc. since the more features a vehicle has the more expensive it tends to be.

Shop at the Right Time

· It is better to purchase a car at the end of a month as most car sales staff do rush to make their sales quotas.

· Purchasing cars at the end of the year is equally advantageous as most car sellers do strive to meet their annual objectives during this time.

· Therefore it you purchase a car during these periods, then you are likely to save more.

Focus on Drive out Price

· When bargaining for a car, it is always advisable for you to bargain on the car’s drive out price.

· Do not be enticed by the small monthly installments payable.

· Car dealers may lure you with their small monthly installments which is payable over a longer period of time such that by the time you finish your payments, you shall have paid more than what is required.

Avoid Settling for Car dealers’ Financing Options

· If at all you cannot purchase a car without going for loans and hire purchase options always avoid settling for the car dealers’ car financing.

· Car dealers are business people who are greedy for cash therefore their main aim is not always to help you get a car but to exploit you as much as possible.

· If you settle for their financing options, then you are likely to pay double the price.

· Obtain loans from banks or any other financial institutions for this purpose.

Get a Co Signer If Your Credit History Is Bad

· In finance, the rule is always that the higher the risk the higher the interest rates.

· Therefore if you have a bad credit reputation, chances are that you are going to be charged highly when you opt for the car financing options.

· This is where you can now engage a friend who is very credit worthy to purchase the car on your behalf as he/she is likely to land a very good deal at low interests.

All in all, car dealers are still important to us even if they overcharge car buyers, some of these people do offer other essential services like offering driving lessons, making a driving licence number and renewing driving licence.

Categorized as Finance

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