For most people, a car will be the second-biggest purchase that they’ll ever make after their house. Thus, it makes sense that you’re willing to work hard to get a good deal on your vehicle.
These simple tips on how to get a car for cheap could mean the difference of thousands of dollars in your bank account.
1. Pay in Cash
One of the best tips for a buying a new car for cheap is to pay in cash. Whenever you decide that it’s time for a new car, you should already have been stockpiling cash for this purpose for a while. Continue to do so until you have enough to purchase the car outright.
When you do this, you’ll pay much less for the vehicle over the long-term because you’ll never have to pay interest on a loan. You also won’t have to pay any fees involved with getting loans and financing set up. Lastly, you can also use this as a way to negotiate, as the dealership may prefer cash purchases so that they can put that money to their operating funds quicker.
2. Consider Older Models
Sometimes, a 2018 model will just sit on the showroom for ages. But when 2019 rolls around, everyone wants to get the car from the new model year. By being willing to sacrifice a little bit and get a car that’s still brand-new, but one year old, you could save thousands off the sticker price.
The dealership will be anxious to get rid of the inventory, so you’ll get a car for cheap. That sounds like a win-win.
3. Sacrifice Luxury Packages
One of the things that make a car purchase expensive is tacking on various luxury packages and going for the higher trim levels. Do you really need soft-touch leather on all the door panels? And how much are you going to use that upgraded infotainment system versus the standard one?
If you’re willing to sacrifice some of the creature comforts, you can save thousands by opting for a base, entry-level variant.
4. Know How to Negotiate
It’s important that you have the right negotiation skills to deploy when it comes time to discuss money. Don’t let slick salesmen intimidate you into doing a deal. Only go to a reputable dealership like Monster Cars that will allow you to negotiate without employing any snake-oil tactics.
5. Time the Market
Last but not least, learn how to time the market. In times of economic crisis and recession, the first thing that people stop buying is new cars. By waiting for such a period, you could get a sweet deal on cars that dealerships are trying to get rid of.
How to Get a Car for Cheap, Made Simple
There you have it. Now that you know how to get a car for cheap, all that’s left for you to do is start shopping around to find the model that best fits your needs and budget.
For more auto advice, be sure to check out the rest of the website!