How to Save Money When Buying a Car

If you are looking for a vehicle right now, make sure you follow these 12 tips for how to save money when buying a car so that you can enjoy your new vehicle without breaking the bank.

Know How Much You Can Afford

Setting a budget will help narrow down your choices and avoid overspending on features that are not necessary for day-to-day use.

New cars start losing their value as soon as you drive off the lot. According to CARFAX, new cars lose as much as 10% of their value after just a month.

Go For a (Slightly) Used Car

Once you have a couple of cars and models in mind, check out Consumer Reports to ensure there are no concerning issues reported.

Research For Reliability

Shopping around for deals and comparing different prices will help ensure that you know the fair value of your vehicle.

Know the Market  Value

Determine the Total Cost Of Ownership

How much gas does this car use per mile? How long do parts last, and how expensive are they to replace? For example, a new set of tires can easily run you close to $1,000!

Negotiate the overall price of the car before including any financing or fee. Be prepared to walk away if your offer is not accepted and the deal does not fit into your budget.

Negotiate (Overall Price, Financing  Terms, Fees)

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Money Saved Is Money Earned!