How I Saved $4000 when Buying My Most Recent Vehicle

Nearly everyone will purchase a vehicle at some time in their life, and unfortunately, buying a car isn’t always a fun task. If you are in need of finding a great deal, your experience can easily seem to fall more on the painful side. Here are a few tips on how I saved about $4000 on my Chrysler Sebring.

Do Your Research

Figuring out ahead of time what makes and models you would actually purchase makes the searching much easier. When I was on the market for a new vehicle, I narrowed down my choices to about three models, then I did an extensive search for reviews on those specific models. Seeing that one model seemed to have a lot of engine problems and another had poor reviews where power was concerned, I was able to narrow my choice down even further to a Chrysler Sebring. This made the actual search process much easier because I knew what vehicle to set my focus on.

Buy “Off-Season” and At the End of The Month

If you are looking for an SUV or other four-wheel drive vehicle at a dealership, buying in early-Spring can save you a lot of money. The bad Winter weather has passed, and so has the need for Winter-appropriate vehicles. The same goes for sports cars. They are typically less expensive in the colder months. Purchasing a vehicle toward the end of the month can sometimes save you money, too, as a lot of dealerships are looking to meet monthly quotas.

Compare Prices

Once I knew that I wanted a Chrysler Sebring, I started looking around for what the average prices were for the year range and mileage I was after. I of course looked at Kelley Blue Book to see what to expect, then I browsed the online listings of local dealerships, as well as CraigsList and local newspapers to see what was for sale in my area. If you have a poor memory or just want to keep track, a simple Excel spreadsheet with the vehicle location, year, mileage, options, and price make comparisons easier. Sellers usually list the vehicle for a little higher than they expect to receive, so having a price comparison gives you more bargaining power.

Pay Cash If At All Possible

Money talks, especially the folding type! Whether buying from a private party or a dealership, paying cash also gives you more bargaining power. When the dealer or seller sees the cash, they see an easy transaction and know they won’t get stiffed on payments. Dealers will often times lower the price – sometimes thousands of dollars on new vehicles – when selling to someone paying cash. This means they don’t have to waste time and resources on financing or wait for an outside bank’s approval.

Hopefully if you follow these tips, you will also be able to save thousands of dollars on your next vehicle purchase!


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