May 23, 2022
How to Easily Get the Best Deal and Save Money
Photo by Gustavo Fring under Pexels License
With a solid game plan, buying a car can be exciting, contrary to what many say about it being a daunting task. Sure, you might find yourself undecided or perhaps even having second thoughts. However, as long as you know the ins and outs of the process, you’ll realize that it’s far from complicated.
The key here is to come prepared and have the right frame of mind. Following the tips we’re sharing below will help you get the best deal, save money, and make car buying a whole lot easier for you.
With that in mind, let’s begin!
- Deliberate.
Start your car buying journey by answering several questions to make it as smooth-sailing as possible. Consider these questions:
- What’s the primary use of this car?
- How much money are you willing to spend?
- Will you need a vehicle that can travel many hours on the highway, particularly one that requires excellent fuel economy performance?
- Does it have to run well off-road?
- How often will you be driving?
- Is safety a top priority?
- Does it need to have a spacious interior?
- Do technological features matter?
- Do your research.
Once you have all the answers to those questions, start doing your research online. You’ll find an incredible amount of information on the web, which will further ease the stress of the car-buying process.
Aside from the price and features, pay attention to the crash and safety ratings and expert reviews of the car/s you’re interested in. Go over the forums and see what other buyers have to say. Doing so will give you that peace of mind you need.
Also, if it’s a new car you’re planning to buy, be sure to find the invoice price, which is what the dealer paid the manufacturer for the vehicle. Don’t mind the MSRP, as it’s the invoice price you’ll need during negotiations.
If you’re going for a secondhand car, research the recent resale prices for that model to give you major bargaining power. Or, if you’re thinking about trading in your current car, look at its market value.
- Set your budget.
There’s a huge difference between how much you should spend on a car and how much you can spend on a car. While it’s always in your best interest to find something that’s below your budget, you’d also want to determine the maximum amount that you can afford to spend.
The best way to give yourself a bigger budget is by saving up ahead of time. One piece of advice is by setting up automatic savings every month that goes into a special car savings account.
How you plan to pay for the car will also affect your budget. Will you be paying upfront in cash? Or will you take out a loan?
Additionally, you should know that there are other hidden costs in buying a car, including:
- Vehicle registration
- Insurance
- Title fee
- Ownership taxes
- Gas
- Maintenance
- Smog or emissions testing
- Parking
Make sure to estimate these costs so that you’ll have an idea of how much you’ll be spending each month after getting a new car.
- Get a pre-approved auto loan.
Getting pre-approved for a car loan is always a better option than waiting until you get to the dealership for financing. Once an auto loan pre-approval is set, you’ll know how much you’ll pay and when — provided that you stick to or stay below the amount. Here are other reasons why you should consider getting it:
- It helps you get a lower interest rate on your loan.
- It provides fewer add-ons.
- It allows you to go to almost any dealer.
- You get to spend less time negotiating and less time overall at the dealership.
For the best auto loan rates, you can apply with online lenders. Not only are they quick and easy, but they can be done right from your phone or computer.
- Shop around.
Unless you’re in a rush, shop around every dealership there is, including out-of-town ones. Dealerships price their cars differently depending on their location.
As soon as you settle on a make and model and know where you can buy it, use a trusted valuation resource to get an accurate estimate of what you should pay for. Then, double-check the pricing using another reputable resource, like the Kelley Blue Book.
- Negotiate terms.
Buying a new car is one of the most important investments you’ll make in your lifetime. You’ll be paying for it for the next five or six years. That’s why you need to step up your negotiating game if you don’t want to hurt your bank account.
Do everything you can to negotiate the auto loan and lower the final purchase price. Work backward by starting with a ridiculous price. For instance, if the dealer gives you an offer that includes a monthly payment of a specific amount based on a 60-month loan, tell them confidently that you want the same payment within a 48-month loan.
You should hone your negotiation skills and come up with several tactics first before making your way to the dealership.
- Buy based on the purchase price.
Don’t be fooled by car dealers when they try to entice you with an attractive monthly payment offer. If the payment ends up attached to a 60-month loan, you’ll lose big time.
Instead, negotiate based on the car’s purchase price. See to it that you know its full price before buying. By that, we mean extra and hidden costs such as car preparation and delivery fees, dealership costs, and various taxes.
- Avoid add-ons.
If you decide to finance your car, expect the overall costs for accessories to skyrocket. That’s why you should avoid add-ons as much as possible.
Unless you live in an extremely cold area, getting heated seats isn’t practical. Instead of spending big bucks on built-in GPS, you can always look for a portable unit online for a more affordable price. A rear camera, VIN etching, dealership maintenance plan, and rust-proofing are other add-ons you can refuse.
- Test drive the vehicle.
A test drive is crucial before you can take your new car home. What if you buy a vehicle without testing it first, only to find out that it’s not as comfortable and efficient as you thought it was? That might be something you’ll regret for the rest of your life!
Pay close attention to the features and characteristics that matter most to you. Check the power under acceleration and ride comfort, verify that the car stops in a straight line, and see if the steering is affected by braking. Flip every switch, sit in each seat, turn every knob, and if audio is a factor, test the sound system.
After interacting with the vehicle, you’re ready to make a life-changing decision.
Use Your Old Car to Support Our Struggling Vets
So, what happens to your old car once you get your brand-new wheels? If you’re planning to dispose of it as soon as you can and without having to go through the complicated process of selling it, here’s the perfect solution: Hand it over to us at Veteran Car Donations.
That’s the easiest and quickest way to get that vehicle off your property. At the same time, donating it to us allows you to reach out to the disadvantaged and suffering veterans in your community.
These are the men and women who risked their lives to protect us and safeguard our freedoms. Sadly. now that their service is over, they’re left to grapple with homelessness amid poverty, chronic unemployment, service-connected disabilities, and physical and mental illnesses.
We’ll sell your donated vehicle through an auction and distribute the proceeds to our nonprofit partners. All of them are IRS-certified 501(c)(3) nonprofit organizations that cater to needy vets across America.
They use the funding we give them to provide their beneficiaries with free quality health care, job opportunities, financial aid, housing assistance, psychological services, educational scholarships, family support, and many other benefits.
As a donor, you will reap valuable rewards. We’ll promptly mail you the 100% tax-deductible sales receipt of your car soon after it’s sold. The receipt entitles you to claim the highest possible tax deduction.
We’ll also haul your vehicle away for free at a time and place of your preference anywhere in the United States.
We accept other vehicles aside from cars. We also take motorbikes, RVs, buses, watercraft, golf carts, motorized wheelchairs, and more. They don’t even have to be in good condition, either!
If you have any questions for us, feel free to call us anytime through our toll-free hotline at 877-594-5822 or message us here. Visit our FAQs page to learn more about our car donation program, including our quick and easy donation process.
Be a Champion for Our Hurting Heroes Today!
Photo by cottonbro studio under Pexels License
It’s time to give back to our brave heroes who honorably served our country. Your car donation will help them achieve their dream: to finally live decent and dignified lives. Call Veteran Car Donations at 877-594-5822 or fill out our secure online donation form now!
Last Updated: August 23rd, 2023