by Eric D
It’s so important to be able to save money when you’re buying a car. This cannot be emphasized enough. If you know the value of a dollar, you know how much of a difference even $100 off the price of a car can help your economic situation. Here are a few money-saving tips for when you buy a car, which include: not paying the MSRP; buying a pre-owned vehicle, if at all possible; and learning how to haggle.
Don’t Pay the MSRP!
The MSRP is the Manufacturer’s Suggested Retail Price. Usually, this price is pretty high compared to what you could eventually pay. Whatever you do, make sure you never pay the MSRP if you can possibly help it, because the dealership–not to mention the car company itself–will be making money hand over fist because you refused to negotiate the price. So, before you go into a dealership looking to buy a car–first off–don’t look desperate. And secondly, don’t let the dealer know that you are willing to plunk down a bunch of cash as a down payment. Once you make the deal, then you can show the fact that you have money. But before you strike a deal, resist the urge to appear like you have money. For all you know, the dealer may be trying to get you to pay a higher price than other people would pay–so don’t fall for that old trick.
Buy a Pre-Owned Vehicle
Another arena you might consider is buying a pre-owned (or used) vehicle. This is a very viable option, especially if you don’t want to pay for a car straight from the dealer, which will depreciate automatically once you drive it off the lot. Buying a used car is a much better option for anyone, especially someone who is living on a tight budget. New cars not only cost a lot, but you can get a reliable used car at a fraction of the price of buying a new one. Since you can do that, it only makes sense to take advantage of that fact, since you can get a used car at a huge discount.
Learn the Fine Art of Haggling
Whether you get a new or a used car, you are going to have to be able to learn how to haggle, or bargain. When you’re getting a new car or used car, you have to get the car at a price which you can live with comfortably.
The most important money-saving tips for buying a car include: not paying the MSRP; buying a pre-owned car; and learning how to bargain with the best hagglers.