Used or brand new, owning a car is very expensive. Add the maintenance, the repairs, and gas expense, you might find yourself struggling financially as a car owner.
Despite that fact, it doesn’t necessarily mean that you need to spend tons of money to be able to purchase one. In fact, there are many ways you can do to spend less than usual on a car.
Obviously, you’d want to save as much money as possible. So, with that in mind, here are five proven ways to minimize the costs once you decided to purchase a car:
- Consider Older Models
Generally, used cars cost less than brand new ones. But if you really want to get something similar to the latest car displayed in the showroom, look through its older models. Dealers would want to get rid of the older models to give more space to the new ones, so chances are, they’d offer you these models at a discount. The older model might not have a few of the hottest features available in the market, but you would definitely save some money while still getting a kick-ass car.
- Only Purchase What You Need
Buying a car is expensive in itself, more so if you get something beyond your needs. Always know what you only need in a car and take in consideration your reasons for buying one. If you’re going to use it only twice a week near your place, don’t splurge on costly choices like an SUV. As long as the car has the basic features, then you’re good to go.
- Focus More on the Total Price
Some dealers highlight more on the monthly payment than the total cost when advertising a model. Usually, they’ll try to negotiate what you could afford to pay each month and how long you will pay them, but the total cost still remains.
Remember to negotiate on the total cost of the car before venturing on the interest rates, monthly payments, etc.
- Schedule Your Purchase
Sales people have quotas that they have to reach within a specific time frame. For those who haven’t reached their quota yet, there would most likely be “end of” discounts—and this is the best time to shop around. It also pays to check if there are many buyers at the end-of sales and reschedule your purchase when there aren’t.
- Shop As Many Dealers As Possible
Once you’ve decided on the model that you want, reach out to as many dealers as you can and discuss your chosen model and your budget. Ask for the best price they can give and work your magic by telling them that you’re in touch with another dealer that offers a certain price. Chances are, they’ll start a bidding war for your purchase.
Playing your cards right can help you save lots of money on your car purchase but the key here is to be educated on what you want before buying one.
After successfully cutting down expenses on your purchase, your best next move is to find reliable insurance that will secure your well-calculated investment. MAPFRE INSULAR offers comprehensive plans for your automobile to help you get the most out of your investment.
To know more about their car insurance packages, visit their page at: https://www.mapfre.com.ph/insurance-ph/personal/car-insurance/
Keep your eyes on the road. Click here to get a quote.