Buying a new car comes with a huge cost. You shell out tens of thousands of dollars, or take on the burden of an auto loan. Being able to afford a new car requires years of saving money, researching your options, and digging deep to find the right deal.
Yet there’s something you should know: car manufacturers are cutting prices. A new car doesn’t cost as much as you might think. Thanks to increased competition among automakers, prices are dropping. Every car manufacturer wants your business, but they know you’re too smart to go after the first low price you see. You want the lowest possible price and the best car in the market.
The average car on the road is about ten years old. Cars are becoming less expensive across the board to compensate as manufacturers struggle to get new cars on the road. Dealerships are even scrambling to get old cars off of their lots to make room for new models. Are you taking advantage of this advantageous climate? Here’s the insight about the auto industry you need to stay ahead of the curve and take advantage of these incredible deals.
How to Save Money on a New Car
Different Choices Equal Lower Prices
Every car company is trying to stay ahead of the pack by creating more new options every year. This could work to your advantage. With so many different options, you could choose anything you want. Want an SUV or crossover? There’s one available from every car manufacturer, from affordable to luxury. Looking for a sedan or convertible? Each automaker has their own take on these types of cars. Special features, add-ons like warranties and maintenance packages, even upgrades on car interiors can all be compared too.
Car manufacturers are at war over their prices. Facing stiffer competition across the market, car companies know they need to capture your attention. No one manufacturer wants to miss out on luring new customers, new car buyers–and when one automaker is lowering its prices, the rest of the pack follows. This trend could potentially save you thousands of dollars.
You Can Afford a Luxury Car
Luxury car brands are competing with each other as well, trying to offer the best features at the lowest prices. They know you have a lot of options to choose from, so they want to stay ahead of the game. Affordable automakers’ cars are catching up to luxury brands. With fancy, tech-savvy features like backup cameras, lane assist, and infotainment systems now the norm, luxury brands are starting to scramble. They know you could score a similar car from another company for less, and they don’t want to lose your business.
Anyone can afford a luxury car thanks to this race amongst automakers. You simply need to know what a brand’s competitors are offering for a given model, and you can use that information to get a significantly reduced rate on the luxury car you’ve been eyeing for years.
Do Your Research
Don’t just walk onto a dealership lot looking a good sticker price. You’ll end up overspending by a lot and driving home with an outdated model you spent too much on. Car salespeople are really good at hyping up nothing at all and getting you to part with your hard-earned money. Before you get swept up by a sales pitch, do your research. You’ll want to know all of your options.
Get a feel for what different brands and features cost. If you like features like lane assist, back-up cams and infotainment systems you’re in luck. Those features have become standard on pretty much every car. From luxury cars to affordable options, high-tech features are now the norm.
Compare and Shop Online
You don’t even need to head into a physical dealership. You can shop for cars entirely online if you so choose. That way you not only avoid the salespeople but you also get to shop at a slower pace. Slower paced shopping means you get to compare prices at your leisure and decide on which features you really want.
Talk to Your Friends
If your friends have nice cars or recently bought new ones, talk to them! They’ll be able to tell you way their shopping experience was like and how much they spent. If you’re looking to upgrade to a new vehicle this is a good way to get a feel for what people like. Your friends can even tell you which features they use a lot and enjoy and which ones aren’t really worth the money.
Just remember that you should shop at your own pace! You’re in no rush to get a new vehicle. If you shop at your own place and avoid the typical car-buying process you’ll end up saving a lot of money.
Local Dealerships Don’t Want You to Know About These Deals
Visit your local car dealerships, and you won’t find these amazing deals. Why? They’ll lose money if they let you in on their secret and sell you a car at the manufacturer’s reduced rate. If you walk into a car dealership today, they will try to sell you a new car for the highest price possible. You could spend all day at a dealership trying to convince a salesperson to lower their price.
Why waste your precious time when there’s an easier way? Armed with the right research, you can skip settling for bank-breaking dealerships. There are other options for buying a car at significantly lower prices. If you follow the tips above and do your research, shop online for different prices and talk to friends you will be armed with everything you need to know–and they’ll show you sticker prices far less than those at the dealership.
Stop being jealous of all the new cars on the road–you can purchase one too for the best price on the market. You simply need to keep searching the top money-saving sites. In the age of technology, there are many online resources to help you buy the car of your dreams!