Personal Finance

How to Buy a New Car – Know the Essential Tips & Tricks to Get the Best Deal

If by some chance you have been saving up for several years to purchase a new car, the tips below can also help you get even more for your efforts.

New Car Sales Booming

Here are the top reasons you should consider buying a new used car:

1. You can save a lot of money. The depreciation amount on any brand new car is huge in the first two years of ownership.  This means that after two years of owning your new car, the value of the car has dropped drastically.  In contrast, purchasing a car that is two or three years old allows you to not only save money upfront, but the value of the car will not drop off as drastically in the next few years.

 2. You can now get an extended warranty on many used vehicles. Brand new cars come with warranties. For a long time, warranties were not available on used vehicles. Luckily this is no longer the case. Many used cars can now be purchased with an extended warranty. This means you no longer have to sacrifice peace of mind to save money. Now you can have both!

3. You don’t have to sacrifice the appearance of having a new car.  A used car can be relatively new, but far cheaper than a brand new car. Many used vehicles will even look exactly the same as the current brand new model. If you are worried that everyone will know you bought a used car, think again.

Now here comes the fun part, let’s take a look at why you should buy a new used car in 2014:

Thanks to a poor economy, you can now get the most car for your money. Fewer people have been buying cars in recent years which led to increased competition between the dealerships to get as many sales as possible.  Since the overall pie of customers has been smaller, all of the dealerships are scrambling to get the biggest piece of the pie. Increased competition between dealerships means lower prices for customers. And if you are careful in choosing a dealership, the increased competition should mean better service too.

Also, you have more used car choices than ever before. Fewer people parting with their money leads to more cars left on the lots and this means you have more used cars to choose from.

Now here’s an awesome Bonus Tip

Luxury car owners tend to really care about their cars. Even those who hope to one day own a luxury car tend to treat their cars really well in the meantime. This means many of the cars traded in to a luxury dealership have been well maintained and often have minimal wear and tear evidence inside. And not all of the cars traded in to a luxury car dealership are luxury cars. The car you are considering might be sitting on the lot already!  Consequently you can snag a beautiful car, SUV, or even a minivan in great shape at a fraction of the price. While your family may not treat the car you choose the same way as a car enthusiast, starting out with a car that’s been well taken care of will benefit your family in the long run.

Summary

If you are thinking about purchasing a new car in the next few years, consider taking advantage of the incredible opportunities that exist now for purchasing a new used car. Don’t pass up the opportunity to get the most car for your money, receive better service from the dealership, and have so many great choices!

One quick disclaimer: Make sure you can afford the purchase. The current economic climate provides some incredible opportunities for purchasing a new used car; however, these opportunities should not be pursued if you are struggling to pay your existing bills. Alternatively, you may consider trading in your current vehicle for a used vehicle with lower payments. The current market factors offer an opportunity to lower your monthly payment and get the most car possible out of this lower payment.

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