If you’re thinking about buying a new car, you’re already prepared to spend a good amount of money. Even if you get financing, you may need to make a pretty good sized down payment. However, there are a few different things you can do that’ll help you save a little bit more money. Here are a few of these tips.
Know the Car you Want Car salesmen want you to walk onto their lot and drive away in a new car. If you know exactly what car you want, that’s fine. If you haven’t researched, though, you may not know a particular vehicle’s drawbacks, concerns other drivers have about it, or the best price. If you walk onto a lot knowing the value of a car, you’re one step ahead of the salesman already. Don’t buy until you’ve educated yourself about the vehicle. Know When to Buy The myth about buying a car in certain months is actually true. This has to do with when dealers get in the newest models. New models tend to come in around the end of September, and dealerships are often looking to clear out some of the older models to make room for them. You might be able to get a very good deal around that time of the year. Another time to shop for a new car is actually around the Christmas holiday. Most people have spent the money they’d make on a down payment on Christmas gifts, so few people are shopping for cars. Salesmen will be pressed to make sales during this time, so you’re in a stronger position to negotiate the price you want. January is another good time to purchase cars, especially if you live in an area with heavy winters. Many people are concerned with heating bills or are afraid they will buy a new car only to skid on the ice and damage it, so they don’t buy until the weather warms up. The Week of the Month is Important As Well Most car salesmen make their money from the commissions they get for each vehicle sold. At the beginning of the month, many are out to sell cars for as much as they can so they get large commissions from each one. Towards the end of the month, their attitude changes, especially if they haven’t sold many cars and need to make some money. They’re more likely to go for making modest commissions on multiple sales if their paycheck isn’t looking too good. Don’t Wait Until You’re DesperateMany people will drive a car until it’s falling apart around them because they see buying a new vehicle as a waste of money. Their current one still gets them to where they need to go, after all. However, this leaves them in a bad position when their car finally gives out and they have to find a new one. Many want or need to buy a new car as soon as possible, so they’re not willing to play hardball with a dealership. If possible, always buy a car when you don’t absolutely have to have one. That way, you’re free to walk out of a dealership if they won’t negotiate with you. In the event you decide to shop for a used vehicle, remember that we offer pre-purchase inspections to insure you’re getting a good car.