Money-Saving Car Buying Tips

Know what you want

The best thing you can do when shopping for a car is to research very carefully before setting foot anywhere near a lot or sales person. Are you in a family and need the room for kids? Or are you single and more interested in a sports car? Perhaps you'd prefer a motorcycle? Knowing your type of car will help you find your make and model. Once you have nailed down those basics, you can find the specific year and design you are interested in and also shop the features that are available for the car that you need. When researching your dream car, you should also come up with a list of features you can live without and/or other models that will satisfy you in case the dealers in your town do not have exactly what you are looking for. The other alternative will be to order your vehicle and wait.

Know what you can afford

This is the most important part of using car-consultant.com and speaking to a qualified loan representative before visiting the various auto lots. Knowing exactly what you've been pre-approved for in a loan and can afford to buy will save you from setting your heart on a car you either cannot afford or will have to pay absurdly high interest rates on a loan for.

Get the largest down payment you can manage

Any auto-loan calculator can show you the vast difference in savings that increasing your down payment by even $100 can do for you in the long run. You will save a lot of money in interest. If you have a trade-in to use when buying your car, don't rely exclusively on its value to finance your down payment. Bringing cash (and a hefty chunk of it) increases your negotiating power when buying a car. The best power of all to negotiate the price of a car is to bring "cash" to purchase the entire vehicle outright.

Shop when the dealerships need to sell

You may have guessed this, but auto-dealerships have quotas to meet just like many other businesses out there. Businesses with quotas to meet tend to get just a little desperate on a regular basis: at the end of every month, at the end of every quarter and at the end of every year. This knowledge is key to help you go into a car dealership with higher negotiating power - by visiting them when they have a greater interest in selling vehicles at a lower price in order to meet their sales goals. Another thing you should read for your own benefit and knowledge is the car loan tips we have given.