As a family vehicle is a necessity, it’s important to try to make some savings when buying one. Use the tips below to enable you to save money when you go to purchase your family vehicle.
Bypass the Extras
When getting a family car, it’s important to get a solid and functional one that will work well to do what you need the car for, which is getting you from one point to another. While modern cars have come a very long way since the first steam-powered engine that could transport people was invented in 1769, you don’t need to get more than you can comfortably afford. Some of the extras you can do without include extended warranties, special detailing, and racing stripes. You can always get these at a later date if you decide that you want them and you have the extra money to get them without straining your budget.
Buy a Car at The Right Time
The best time you can buy a car, according to data, is at the end of the month, at the end of each quarter, and on holiday weekend sales. This should be around March, June, September, and December. At these times, dealerships are nearing the end of the year and they’re motivated to reduce their prices so they can move cars. In the late summer, many dealerships are also trying to move old cars so they can get space for newer ones. When you do this, you can end up saving hundreds or even thousands of dollars on your car purchase.
Before you settle on a car to buy, make sure to research thoroughly so that you know its value. Check its history report to find out about any potential recalls, its accident history, and any repair information among others. To have an easier time doing this, simply request the seller to send you the vehicle identification number or VIN so you can research the vehicle’s history online. Also, note that different models of trucks and cars need different amounts of oil, but most engines need between five and seven quarts. Knowing information like this will help you know whether you will be able to maintain the car over a long time.
Buy Cash if Possible
As you will end up paying interest when you pay in installments, it’s advisable to buy it in cash. Save until you can make a one-off payment for your car and you will enjoy the no-strings-attached manner in which you will own your family car. While doing this, don’t forget to negotiate with the seller to ask for a discount. When you’re ready to buy a car, many dealerships will be willing to offer you a discount if you pay in cash and make the full payment for the car. Try to start saving so that you can afford to pay for your car outright.
Go For Used Instead of New
As mentioned, a family car is more a functional purchase than a social status symbol. Don’t try to get more than you can comfortably afford because you will strain your finances for something that won’t be building your wealth. Remember that service intervals can either be expresses in terms of time periods or mileage, and keep in mind that as long as you service your car regularly, you should have less trouble with it. Make sure that the used car you get is in a good condition so you can get years of good service out of it, performing a thorough check with the help of a trusted mechanic so you know you’ve made the right choice.
Use these tips to buy your next family car and save some money while at it so you have something left to spare at the end of the day.