Given the enormous costs associated with car buying, there’s little wonder as to why so many of us actively dread having to replace our current vehicles. However, while it’s true that every vehicle purchase is bound to set you back a little, there are a multitude of ways to lessen the financial strain of buying a car. As such, anyone looking to get the most for their money when purchasing their next car should consider the following pointers.
Don’t Close Yourself Off To The Idea Of Buying Used
It’s easy to see why so many consumers make a point of avoiding pre-owned vehicles. After all, it seems like just about everyone has a horror story about a used car they drove at one time or another. Furthermore, pre-owned vehicles are often portrayed as temperamental clunkers across popular media.
While it’s true that not every used car represents a wise investment, a fair number of them do. This is particularly true in the case of certified pre-owned vehicles. In addition to being in good condition, these cars often come with convenient manufacturer guarantees and limited warranties. Such perks help ensure that if something goes wrong with your vehicle within a reasonable time-frame, you won’t get stuck paying exorbitant repair fees. However, keep in mind that the benefits associated with certified pre-owned cars vary from manufacturer to manufacturer. So, before committing to purchase one, make sure to read up on the types of guarantees and/or warranties you’ll be receiving.
Buying used can also widen the selection of vehicles from which you can choose. Furthermore, a used car is likely to depreciate in value at a slower rate than a brand-new one, as many used pre-owned vehicles have already undergone the bulk of their depreciation.
Do Some Search Ahead Of Time
It’s generally a good idea to do some research before heading out to a car lot. Given how expensive most vehicles are, it’s only natural that you’d want to know exactly what you’ll be getting for your money. Fortunately, many dealerships now have websites that enable visitors to easily peruse their respective selections, ask questions and even make purchases remotely.
Once you’ve decided on a car or narrowed down your options, take some time to research mileage, current value, safety ratings and consumer reviews. This will help ensure that you’re able to step on to a car lot as an informed consumer and prevent you from overpaying for a vehicle that’s struck your fancy.
Pay In Cash
Many car buyers would never even dream of purchasing a vehicle in cash – and frankly, there’s little wonder as to why. With so many new vehicles costing tens of thousands of dollars, it’s easy to see why people might be hesitant to spend this much all at once. However, if you have sufficient funds, there are numerous benefits to purchasing a vehicle in cash.
To start with, you won’t have to bother with financing and monthly payments – which will save you from having to pay interest. Secondly, some dealerships are happy to provide special discounts to customers who pay in cash, as this saves them the trouble of dealing with financing. So, while purchasing a car in cash may present a short-term financial setback, it stands to save you a considerable sum in the long run.
Consider An Electric Vehicle
While it’s true that electric vehicles tend to come with much steeper price tags than fuel-based automobiles, there are a number of advantages to going electric. For one thing, you’re likely to save on fuel costs, especially if you do most of your charging at home or at work. Secondly, since electric vehicles contain fewer moving parts than traditional cars, there’s a good chance you’ll see considerable savings on the maintenance front, as well. Car buyers looking to do right by the environment – and their bank accounts – should read up on Chevy’s path to an electric car future.
It’s easy to see why so many of us regard car-buying as an immensely stressful experience. Between an abundance of vehicle options, startlingly high price tags and overeager salespeople, purchasing a new car is something that a fair number of consumers actively dread. While there’s no way to completely eliminate the stress and financial strain of car-buying, it’s entirely possible to make the process less vexing and pricey. So, if you’ll soon be in the market for a new vehicle, the advice outlined above can help ensure that you get the most for your money.