When it comes to a time to replace your car with a new one, you are going to want to keep as much money as possible, but that may not be as simple as you would want. One of the best ways to saving money on a new car is to do your research way ahead of time so that you don’t get swept away the process. If you are among the many savvy shoppers who do their research online, you are lucky. You would face a couple of frustrations reported by consumers such as dealing with salespeople, spending a lot of time in the buying process, figuring out what type of car you need and looking out for your sources of funding.
Here are some simple ways to save on your next new car
1. Bargain on the Internet
Before you show up to test drive the vehicle, take the time to negotiate price and financing, over the Internet. You may even opt to have the car delivered to your home, and sign the paperwork. Doing so helps you save on three things – which are saving on time, avoiding dreaded financing insurance and you can shop and negotiate during moments when it is convenient for you.
2. Decide on the car you need
Before you start browsing, identify the one key thing you need in a car. It doesn’t make any sense to buy a two-seater convertible if you are about to start a family. Work out on what is realistic for you by asking yourself key question such as; what are your essential requirements regarding fuel economy and enough space for your family. Think about what you need the car to do specifically. Reason out if the vehicle is for short city drives or longer motorway journeys. What is better for you, is it petrol or diesel? Do you need a large boot? And are you in for an eco-friendly car?
3. Research on the best time to purchase a car
First, you need to have decided what time of car you need. Then, on the way to save on cost is buying at the right time. Dealers usually have targets to meet, with bonuses up for grabs. These goals are based on quarterly sales which make the end of March, June, September and December as the ideal months to buy a car. Dealers need to sell a lot of cars at these quarters to meet targets, and thus they will be willing to push their prices down. Try to avoid weekends or start of the month after payday.
4. Look at the cheapest car to run
To save on your energy and time trying to work this out, car experts have already done this particular research. You can compare running costs on different models including the one’s you are looking forward to buying and on several sites, but here are some few rules of the thumb; smaller engines can be cheaper. A larger engine burns more fuel than a smaller one, and thus engine size is a fundamental consideration when making car buying decisions. Also, note that petrol cars tend to be cheaper than diesel ones, but diesel ones are more economical than their gasoline counterparts. Also, manual cars are less expensive than automatic ones. However, switching between gears is extra work, for those prone to stalling at traffic lights. Another note is that hybrid cars are cheaper to run, although they cost more to buy.
5. Buy pre-registered cars
Cars classified as pre-reg usually come with chunky discounts off their original list price. In theory, they already have one owner. In working, the dealer buys the car and registers it to the dealership. This act is usually done to meet sales target for a given time. Dealers usually act this way as thy can often make more money from bonuses for hitting targets than they can, just from selling a car. To the local consumer, this model means that you can buy a brand new car for a hefty discount because its records already show that the car as an owner.
6. Buy a run-out model and save
Are there vehicles that are about to be phased out by newer models? These are what we call run-out models and are often found with discounts of up to 30 percent of their original price, as dealers make way for the shiny new ones entering the market. However, note that the resell value of these vehicles will slump in value when their replacement arrive. Run out cars can be bought from mail car dealers as well as finding them with brokers online or at the car supermarkets.