Never Pay Full Price For Anything
You’re looking to get a car but don’t know where to start. All you know is that you are mentally convinced that you want a car ASAP. You don’t care what anyone else has to say, nobody is going to stop you, you’re grown and ready to become independent. Right?
Now before you go crazy and go straight to the dealership to buy a car, make sure you go through these few helpful tips. These quick tips can help save you hundreds if not thousands of dollars in the long run.
- Stay in Your Lane- Stay within your budget. The last thing you need is a car that takes up the majority of your paycheck. Yes you want a BMW, Mercedes Benz, Audi, or the latest car. I get it. At one point I was there too, but trust me, it will cost you a pretty penny. Don’t buy a car that you can’t afford. Keep in mind you will not only be paying for the car note each month but you will also pay for everything that comes with it:
- Car Insurance
- Excise Tax
- Build Your Credit Score- One of the biggest mistakes I’ve made is buying a car with a bad credit score. Having a credit score lower than 650 and trying to buy a car will cost you. See the following featured image as an example. Your credit determines how much interest you will pay on the loan you take out. The lower your credit score the higher the interest you will pay for your car loan.Click To Tweet If you have a relative with a good credit score, you can have them co-sign so you can pay less, but know that if you don’t make your payments on time their credit score will drop. For more detailed information on credit click here.
- Buy on The Last Day of Each Quarter– Every car dealer has to hit certain numbers for their store. Having friends as salesmen in the car industry, they gave me this useful inside information of going to buy your car towards the end of the month of each quarter. You are more likely to get a better deal on a car during the end of March, June, September and December then you would in the beginning of the year or the beginning of each month.
- Go With A Technician or Mechanic- Regardless of being a male or female, not everyone knows about cars, so it is important to go with someone who does.I can’t tell you how many cars my father, a technician, saved me from that I thought looked great but in reality had a lot of problems. He heard and saw things that I had no idea I need to look out for. Salesmen are there to do their job. Sell. Although there are good and bad salesmen who just want to make a commission, I highly recommend you go with an expert or someone who knows more about cars than you do. It’ll save you a lot of headaches in the future.
- Negotiate The Price- Make sure you do you research before you buy any type of car. Check out ratings, reviews, ask friends or family who already have the car make and model that you are looking for to get feedback. A great tool to use is Kelly Blue Book to get an idea of what price range you should be paying for the type of car you are looking for. Remember to always negotiate the price especially if you are financing. Chances are you will pay less for the car by better understanding what it is really worth in the market at the time you purchase it.
Follow these tips and you will be sure to save money, time and headaches in the long run when you buy a car whether new or used.
Let us know your results after trying out these tips and feel free to share with us any of your OWN tips used to help you save money in your car buying experiences.