Guest Post: How to Save Money When Buying a Brand New Car?

By Zero2Turbo On Jan 18, 2012

In a lifetime, there are a lot of tough decisions that have to be made and one of which is buying a brand new car. This decision remains to be one of the most-fulfilling events in a person’s life; especially if it’s going to be the first car he will be investing his hard-earned money on. It is often said that buying a car is not as easy as buying a shirt, decisions have to be weighed like what kind of car, what brand, what color, does it have to be big and a lot more questions should be answered before hitting on the pedal. This article will provide you with some ways on how you can save money when buying a brand new car. Click read more below for the full list.

The list is as follow:

Research

Research entails a) browsing the internet for the latest news on a particular car model, visiting car forums and communicating with other car enthusiasts; b) going to various dealerships, checking out the facilities, getting brochures, quotation/SRP as well as automotive deals on the preferred car models and c) cross-referencing information with those of car magazines like Top Gear and C! Magazine whose editors may have test-driven these vehicles and could give an additional tip or two. Research is very important for it gives you a lot of options with regards to what car you need. Also, through the forums and other relationships you’ve built through your research you can meet people who are car dealers and you might just close a good deal through that relationship.

Finding the Best Dealership

When looking for the best dealership, one of the things that you should consider is the dealership promotions and discounts. These discounts or promotions are add-ons to the typical discount given by the manufacturing company to lure you away from their competitors. Some dealerships offer as much as 20% discount when they really want the car out of their garage. You need to patiently wait for a dealership discount. Just hold on to your money until you find the best car dealer that will give you that awesome discount. Sometimes, these car dealers don’t just give discounts they also give freebies like umbrellas, car mats, free insurance for 3 years and a lot more incentives to their consumers.

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Cash It

Acquiring any product is always cheaper when paid with cash. Additional discounts of 5-20% are usually awarded to cash purchases. Promotional offers like 0% may not always be the best; sure, it does sound enticing initially but further studies may prove otherwise. Sometimes, the best thing to do is to borrow money from someone you know who can loan you the money you need to buy the car you desire. This process will not incur interests, well it depends on what you guys agreed upon. But, surely, this will be an easier route than loaning the money from the bank. You need to sign stacks of papers before you’ll be approved or awarded of the loan.

No Extras Please

There are a lot of freebies included when purchasing a vehicle. Standard ones include tint, car seat covers, early warning devices and floor mats which are all free of charge. However, sales agents are known to offering you additional ones like visors, extra seat covers, rear cameras, grills and bumper protection kits where its product margin are high enough to offset all the discounts they offer you on the purchase price. So buckle up and say no to these temptations!

Preparedness

Most dealerships would frown when you visit them already prepared with cash or some other bank arrangements since it will render their loan facilities, one of their biggest income generation methods, obsolete. Yet, luring them with cash already on hand is an effective tactic since additional discounts would be given and render the entire purchasing procedure fast and smoothly.

All in all, purchasing an automobile remains to be one of the major decisions that would come sooner or later. The key component here is to research everything and getting prepared with all the resources beforehand. Always remember; never bite anything more if you can’t chew it.

Barbie Lee is an open-minded woman with boundless interests. She is a lover of animals, a fan of great music, and an enthusiast when it comes to fast, furious and feisty automobiles. When she isn’t cheering for her favorite basketball team (Go Mavs!), she’s busy writing for the blog site, Automotive Part Suppliers.