Considering the cost of a car, when it comes to buying one, we all want to make sure that we’re spending our money right! And if there are dollars to be saved, then all the better isn’t it? Well, here are some handy tips you can take to make sure that you are doing all you can to get the best deal for that new or used car you have your eye on!
The first step to a good deal is research. Casting your net out into the big automotive trade industry to check prices of the car in the different dealerships is an easy way to see who is selling the model that you want at the cheapest price! In addition, you should send out emails to credit unions and banks too to find out about their interest rates and to kick start loan applications at the same time. Finding out how much you can afford when the loan approvals come back can greatly help you when you start test driving and whittling down your options because you will have a better idea of what cars will actually remain inside your budget.
Once you have seen the car, done your test drives and have all your facts and figures in front of you, you need to take a step back and reevaluate your choices and deliberate over your final decision. As a car financing company, The Smarter Finance Company is there to help our customers ensure that their car financing plans match their budget and that they can truly afford this big ticket purchase over the whole loan period. Whether you are deciding with a financial advisor like us or on your own, it’s important to make sure that you fully understand how this new car will affect you, your family and your finances before you go ahead to dot the i’s and cross the t’s!
Time your purchase
While you are researching all the dealership showrooms for car prices, it may be worthwhile to ask if there are promotions coming up soon. During the holidays and at the end of the month, most showrooms are scrambling to hit targets and make their figures look good and chances are they will also be willing to negotiate. If you realise that there are new models of the car you want to purchase, it may be a better time to stick with the older versions since it’s likely that new customers will go for the new model and the demand (and price) of the older car will drop.
It may take a while for you to find that perfect deal, but with all the above tips, you can be well prepared for the prices quoted at the showroom. If you want a more in depth view to what you can do to prepare for financing your new car, please give us a call and let us help you work out the figures!