LifestylePersonal Finance

Saving Money when buying a car!

Buying a car is a big purchase. It requires a lot of thought, consideration, and searching around. It can be quite difficult to find a car that you love that is also within your price range. Finding a car at the right price can be tricky, but if you prepare yourself beforehand, there are several tips that can help you not make too much of a strain on your bank account.

First, you should decide whether you want a brand new car, or a used one. A brand new car will obviously be the most expensive from the start, but a used car can save you quite a bit of money. In addition to this new cars suffer a great deal from depreciation at a significantly high rate in the first few years. If you still want a new car you could get around this somewhat by choosing a model which is just over 12 months old, this will save you a great deal of lost value in the car and in addition the manufacturer warranty is probably still going to be active therefore saving you more on the cost of immediate repairs. No matter which you decide, make sure you know who exactly you’re buying the car from. If you’re buying the car via a private sale, from the owner, make sure you ask for current registration papers, proof of ownership, and a safety check report that’s no older than a month. Buying a car from a private seller means you’ll have to forgo a warranty – which is why a licensed dealer may be better for you. Although licensed dealers are usually more expensive, it can save you the hassle of buying from a private seller. Dealers also give you a warranty on cars that are younger than 10 years old.

When dealing with a licensed dealer, make sure you don’t let them talk you in to a buying a car that you don’t absolutely, positively want. Take your time to inspect the car and look around. Another buying option would be an auction. Buying a car at an auction will be cheaper but you won’t get a warranty, an inspection, or a test drive so bear the potential risks and money you may spend in the future with the initial outlay and money you could save buying a fully inspected car with a warranty to cover all those potential problems you may have.

If you have bought a second-hand car, make sure you get an inspection. It’ll cost a couple of hundred dollars but many people find it worth it. Getting your vehicle inspected will help you discover any problems that may be too expensive to fix if you wait too long. Also check the odometer and make sure it hasn’t been tampered with, and that it matches the service history in the car’s log book.

As always, the most important part of looking for a car is knowing beforehand what kind of style you want, whether it’s a sedan, minivan, or an SUV. If you have some ideas of what you’d like, I’d suggest looking online and checking out the different features of the car. The process will be a lot easier if you know what you want before you head out to look. For example, if you want an SUV, then look online for the top-rated SUV’s with the features that appeal most to you, like the Toyota Rav4, for example which is fully of an array of features, typically ideal for the active families.

Even the thought of making such a big purchase can make people uneasy, but if you do your research beforehand and get all the necessary information, buying yourself a new (or used) car doesn’t have to be so daunting after all.

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