Buying a car is now more expensive than ever before, and an average payment currently sits around $644, although some other websites would suggest it’s closer to $715, which just goes to show that people are willing to spend much more than they ought to.
This also applies to used cars, not just new ones, and no one can really tell how long the transportation market will remain red-hot like this, although it’s clear why new vehicles have skyrocketed in price.
Partially due to the shortage of certain metals, car production has become much more expensive, but this shouldn’t have applied to vehicles that were already on the market when the shortages started, meaning you should avoid getting duped when buying a car from a salesman who’s clearly looking to make an extra buck off of an uninformed customer.
No matter how necessary a car may be to you at the time, there’s no need to stretch your budget just to meet this need, and you’re sure to find a much more cost-effective option if you simply shop around for a bit.
Know the type of vehicle you need
While we all have our dream car, sometimes that Pontiac Firebird isn’t exactly the best choice for a family of 4, especially if you’re planning on commuting to work and driving your kids to school every day.
Different types of vehicles exist to fulfill different purposes, and you should know which one is best suited to your needs before committing to a vehicle that may be too big, or too small for what you’ll be using it for.
An athletic lifestyle would suggest that you’ll be using your new car to drive to and from hiking trails, which usually implies a car that could take some wear and tear with ease, so make sure you’ve taken this into consideration.
On top of this, you’ll want to look at the car’s gas efficiency, as some vehicles may not be cost-effective enough to fit your current budget, and the same thing applies even if you’re planning on buying an electric.
By finding the answers to these questions, you’ll make it much easier on yourself when it comes to actually buying the car, and if you’re sure that you’ve found the vehicle to check all the boxes, it’s finally time to commit.
Buying only at a single dealership can be one of the biggest mistakes first-time car buyers make, and having other options is usually what gives you the upper hand on the car salesman that’ll try to sell you any heap of junk claiming it’s worth a fortune.
Apart from having “other options” to negotiate a price on the car you really want, sometimes you’ll actually want to shop around to find the best deal, and if you see that a dealership is overpricing their vehicles, it may be for the best to just move on.
Apart from this, shopping around gives you an insight into what a certain car is going for these days, and with enough experience, you’ll understand the market value for the specific car you’re looking for.
It’s important to note that these dealerships are often as competitive as they come, and you may find that the prices are often matching, in which case you’ll want to negotiate by using that as an argument, including some “alternate facts” about the deal the other seller is offering you that you may come up with along the way.
Don’t fold under pressure
Car salesmen will usually employ a series of psychological warfare strategies to ease you into overspending on a vehicle, and you’ll want to look out for these high-pressure tactics.
If you wish to avoid being lured into spending more than you were planning to, you’ll want to have a firm grasp on your budget and stick to it as much as you possibly can.
Every dollar over what you were willing to pay is a dollar that you’ll be losing elsewhere.
Oftentimes, if a deal sounds way too good to be true, it most probably is, and you may end up paying extra for a car that’s barely held together and will fall apart the moment you drive it out of the car dealership.
Once you start being hesitant about the purchase, the salesman is bound to get pushy, and while this can be pretty annoying, considering it’s your money and you can spend it however you want to, the last thing you’ll want to do is be rude to them.
If you do, you can kiss your chances of getting a better deal goodbye, and the salesman will practically try to rob you in broad daylight from that point on.
Always remember that saying “no“ is the best way to save your money, and if you know when to say it, you’ll save yourself hundreds, maybe even thousands of dollars.