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Wheel Deal: 3 Secrets to Frugal Car Shopping

All aspects of the vehicle-buying process can potentially be financially advantageous or incredibly expensive. Unfortunately, many expensive or costly aspects associated with buying a vehicle may have lingering effects that you may feel for several years or more after you drive home your new car. If you want to get a great deal on your next vehicle, put these helpful tips into action

Buy a Gently Used, Certified Vehicle

The value of a new vehicle declines substantially within the first year of ownership, and in many cases, it continues to decline for years afterward. However, the most significant drop in value usually occurs within the first year or two of ownership.

When you buy a gently-used vehicle that is at least one to two years old, you can avoid being the owner that takes that financial hit, and you can still drive a late-model car in great condition.

Avoid a Dealership Trade-In

Many automotive buyers have plans to trade in or sell their current vehicle when buying a new car. The most convenient way to complete this process is to trade in the old vehicle at a dealership. However, dealerships may not always give you the best price or even a fair price.

Some dealerships like Young Chevrolet will adjust the sales price on the new car or may not negotiate as much on the new car’s price based on the deal they give you on the trade in. When possible, sell your old car on your own.

Focus on Loan Terms and Fees

Another aspect of the sales process that could negatively impact your overall deal relates to financing. It is always best to shop around for the best loan terms that you can find on your own. Then, take those terms to the dealership’s financing department and ask them to try to beat them. Focus on the interest rate, terms, and fees to find the most affordable financing option available.

Putting It All Together

You can see that there are multiple aspects of the sales process that will affect your overall deal. In each of these areas, you stand to lose hundreds or even thousands of dollars. When you focus your attention on these important tips, you can more easily get a great deal overall when buying a new vehicle.

Buying a new vehicle can be stressful and costly. However, you should not pay more than necessary for your next car. It may take more time and effort to follow some of these tips, but they ultimately could help you to save a tremendous amount of money.

Views: 38

Tags: Automotive, Car, Finances, Shopping

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