When looking to buy an older car, the choices are many, but great deals are few. With plenty of customers looking for help on the subject, here’s a list of great ways to save money on your next used car purchase.
Hold on Until the Next Model Year
With car manufacturers rolling out new models every year, dealers are looking to clear out their old inventory. This can trigger sales and significant savings on previous models.
Look for Models that Have Stopped Rolling Off Assembly Lines
Better than waiting for the next model year; getting your hands on a discontinued model can be an even sweeter deal. While many customers are reluctant to look at these models fearing lack of parts, the truth is far from this. Most manufacturers typically keep making parts to service these models for years after they are discontinued. Dealers with discontinued models will be happy to throw in several free additions or give you a better price to make room for newer models.
Put Down a Higher Down Payment
Making a larger down payment will lower the amount of money you’ll need to borrow to make your purchase. This could ease your financial burden in terms of a lower monthly payment amount and perhaps improve your financing offer as well.
Get the Best Price Upfront
By skipping the haggling, you could set a fair price and be willing to get the car at an outstanding value or walk away.
Base Models Are Cheaper
With fewer frills and features to offer like entertainment, navigational aids, etc., base models are great for budget-conscious shoppers. You might not get the latest technology, but you’ll get a great car that will take you where you need to go for much less than similar cars in the same model range.
Quit Looking for Leading Brands
When it comes to buying a vehicle, popular choices attract a heftier price tag because they are still in demand. Look at cars from a brand you might not have considered before. These are almost as popular as prominent brands, and you’ll probably get similar features while saving money too.