Archive for July, 2019

Planning to buy a new car? Follow these 5 easy tips to save money fast

July 17, 2019 at 6:59 am 0 comments

Buying a new car may sound very simple, but putting this basic idea into practice will make you realize that it’s even harder than you think. If you’re currently saving your monthly salary for a new car, or even for a used car, it always helps to have a strategy and a plan that forces you to be disciplined. This allows you to manage your expenses properly and prepare you when unexpected expenses come up.

Here are the 5 simple tips to help you save money to buy a new and nice cars 

Do some comparison shopping online

Visiting or contacting a car dealer to get relevant information is always a good idea. But why bother to do extra leg work when you can always search auto sales online. Consider it as your online window shopping, it’s just that your internet and your hand will do all the work instead of your foot. List down all the cars that you plan to buy, and then narrow it down to your top choice. Doing great research will ensure that you get the best deal possible. Know the available price and how low or high it can get, this will allow you to negotiate with the car dealer more effectively.

Plan your desired payment

Having a car loan is a great option for those who cannot pay in full or to those who don’t care about monthly car payments. If a car loan is your strong option, start calculating as early as possible how much you can afford to pay out every month. Also consider other expenses that you will have to shoulder such as maintenance, oil changes, new tires, and insurance purchase. Car payments may seem the biggest and single expense, always keep in mind that it is not the only expense there is.

Decide when you need the car.

Once you have the entire blueprint of how much you can afford to spend, including monthly loan installments and down payments, the next important thing that you should consider is to have the right timing. Keep in mind this basic rule: The sooner you want to buy the car, the faster you need to save up for cash. So make sure that you have patience, and avoid rushing things, keep your budget in check and wait for the right moment to take the next step. You can always try buying a more affordable car and look for a cheaper one or you can also delay your purchase to save some money before buying. Either way, both are good ideas that you can start with. 

Timing is important

When everything is all set, the final thing to do is to wait for the right time to make the purchase. Start by asking if they currently have special discounts for being a student, a senior citizen, or ask if they have the same brand that you currently have. Asking out this information will help you save money in the long run. There will be a season where car dealers provide discounts, you can take advantage of this and purchase your intended vehicle. These seasons are considered the best time to negotiate for a good price, since most salespeople are closing to the end of their sale quotas, so they give bonuses for just to hit their sales goals.