How to Save Money when Buying a New Car

How to Save Money when Buying a New Car

Do you feel as though you are spending more than you should on cars? Either way, if this sounds like you then one thing you can do is try and look into ways to save. There are numerous ways you can do this, with some of the top options listed below.

Compare New and Used Prices

When the time comes for you to buy a used car, you will have to compromise on your choice of specification when choosing a model. With that in mind, the savings will certainly be worth it. Don’t be afraid to haggle with the dealer, and do your homework if you can. Start by researching the prices online and then look up how competitive they are. Remember that cars might not be priced locally if you are buying used, so you will have to factor the cost of transportation into your search. If you have been in a car accident then you may be able to hire a car accident lawyer. When you do, you can then count on them to help you get the compensation you need to save on your next vehicle.

Consider an Older Model

A car that is pre-reg, is yet to be owned by an individual. Dealers often register a range of vehicles when getting to the end of the month as it means that they can meet their quota. When buying new, you may be tempted to opt for the newest model but if you opt for a pre-reg instead then this could mean that you end up getting the car you want but at a very affordable price. 

Consider Downsizing

Think about it, do you need an SUV? Maybe a hatchback or an estate could be a better option. Either way, when the time comes for you to choose a new car, you need to make sure that you aren’t overspending on things you don’t need. You may be able to run your car fine if you opt for a smaller engine. Remember that smaller tyres are also way cheaper to replace. SUVs often attract a price that is more than an estate car too. If you can keep this in mind then you may find that you end up getting the result you want.

Ask about a Discount

Being a cash buyer is a very powerful thing when it comes to the car market. Dealers love cash buyers as it often means that they can avoid filing too much paperwork. It also simplifies things a lot as well which is major, to say the least. If you can, it is a good idea for you to ask about a discount, if you are a cash buyer. If you can do this then you may find that you can save a lot of money and this can work in your favor quite a lot if you are on a budget. Don’t be afraid to talk to the service about the other options you can get for upgrading your car too, as it could save you even more.

Play the Dealer

Another thing you can do is play the dealers off against each other. Try and find out the price that one dealer is going to give you for the car that you have and then put it up against the price that another dealer is offering. If you can do this then you will soon find that it is easier for you to save a small fortune and this can work in your favour. If dealers know that you have done your research and if they know that you know what you’re talking about then this can be a powerful tool. This will give you the upper hand, so make sure that you keep that in mind.

Trade In

If you have a car right now then consider trading that in. If you can trade in the car that you have then this will give you a significant boost to your money and this is great to say the least. You may be able to get a better car, or you may find that you can get some additional features. It’s worth noting the trade-in value though, as sometimes it may be cheaper for you to sell the car you have privately. Some buyers will pay you more for your car if you have a desirable model, whereas dealers won’t take things like this into consideration as much, so make sure that you keep that in mind as it could make a major difference.

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