How To Get the Best Deals On Your Next Car Purchase
The rising car prices are another problem Americans deal with nowadays. After all, the average price of a new car bought in the U.S. climbed to $36,700, according to CNBC. To make this expensive investment count, it’s better to research your next purchase since it helps to identify the right car’s features.
But researching alone won’t be enough to get the most affordable car. Here are some tips that can make the car cheaper and more affordable.
Aim to Pay Full in Cash
Aim to purchase a car in cash rather than using credit. While making money car payments can help build your credit score, paying in full will ultimately help you save more in the long run. After all, that means there’s no need to pay for the interest. Also, some car dealerships offer better deals to cash-paying customers. Make sure to research and look at what each provider can offer.
Choose Used Cars Instead of New
Most cars will lose nearly 20% of their value right after you drive them out of the lot. In fact, they lose 10% more within the first year. That means a $30,000 car will lose around $9,000 in value within that period. Getting a used car means avoiding that 30% hit, especially when getting a one-year-old vehicle.
Take note, a used car can cost up to $20,400 on average, according to USA Today. The price will depend on the vehicle’s brand and mileage. Most of the car listings in the market will have 2-3 years under their belt. But the good news is that they’re often well-maintained and road-worthy.
Be Patient and Negotiate
Negotiating the price of the car won’t be a waste of time – when you know how to bargain. This is especially the case for used vehicles since they are more likely to have minor flaws. Knowing the car’s real value may help lower its price to several hundred dollars less.While you may not be able to walk out of the dealership with the car right away, take your time to research the local dealerships around you. When you compare and contrast their prices for the same models, you might be able to snag a better deal.
Having a well-planned car purchase makes it easier to get cheaper deals. With that, follow these guidelines and be patient since it’s a long process. Search for more ways to make the car more affordable, like trading in an old car and more.