Guest reporter, Sean Gray, has a few ideas on how to save money when going car buying.
Saving money when buying a car comes down to a whole heck of a lot more than simply kicking the tires. If you really want to save money when you buy a car, here’s lesson number one.
Prioritize Saving Money in Every Regard
We’re not going to sit here and give you a few tips that you can then go and pretend you’re using to save money, only to wind up spending just as much in the long run. If you absolutely cannot do without a brand new car, if you absolutely cannot do with chrome wheels and leather interior, then this guide is not for you. This is for the buyer who wants to save money right now, as well as in the long run, while buying and maintaining a nice set of wheels.
Don’t Buy a Clunker
When we started this article off by telling you to save every penny you can, you probably weren’t expecting us to tell you to buy a nice car. Well, you have our permission: Go ahead and buy a nice car. Just make sure that you know the difference between a car that’s truly nice, and one that’s merely expensive. There’s no reason to waste money on chrome fenders if the engine isn’t in good condition. Make sure that you take any car you buy for a test run before handing any money over. A piece of junk is great when you’re first learning to drive, but ultimately, a decent car will save you a lot of money on repairs in the long run.
When you buy a used car, you wind up spending a whole lot less on insurance. In just about every one of the fifty states and outlying provinces, you’re going to have to pay full coverage prices for a set amount of time if you drive a new car. When you drive a pre-owned car, you not only save money on the actual cost of the car itself, but on the cost of insurance, as well.
Bring a Friend
The idea that all car dealers are unscrupulous is a bit of a myth. However, their main purpose is to move cars, and the more expensive, the higher their commission. Generally speaking, a dealer should be willing to work within your budget and find you the best car for the best price, turning you onto cars you might not have otherwise considered. Not all of them will, though. If you bring a friend who’s knowledgeable about cars (or who can fake it reasonably well), then you stand a chance of winding up with a much better car at a much better price.
It’s important to be flexible when buying a car. If you tell the dealer that you need a Volvo, then they know that they can sell you a Volvo at any price. Have an idea of what you want, but not too specific an idea. In fact, one of the top tips for thrift in any area is this: Be flexible, and you’ll be surprised how little you can get away with paying.