Five Ways To Save Money While Buying a New Car

New cars often come onto the market with high sticker prices. This discourages some people from purchasing a new vehicle. A number of people in the market for a new car do not understand that dealerships have a large amount of control over the final price. There are five ways to save money when buying a new car.

1. Negotiate Everything

Anyone buying a new car should be prepared to negotiate when speaking to a dealer. Auto dealers want to make a sale in the moment. This often means dealerships are willing to reduce vehicle prices or make other accommodations. It is important to negotiate every expense including the fees and details in the contract since some are not strictly necessary or can be waived.

2. Visit Different Dealerships

It is best to visit different dealerships before starting negotiations. Buyers can often get dealers to lower prices or improve contract terms when mentioning there is a better offer at another location. Dealerships do not want to lose business to competitors. Some dealerships might even match advertised discounts or special offers from competitors.

3. Look For Outside Financing

A good way to save money is to get financing for the vehicle outside of the dealership. The financing dealerships offer often has poor or unfavorable terms. Anyone who already owns a vehicle can get fast financing through a company like eTitleLoan. Sites like eTitleLoan.com offer loans secured by an existing car title. The loans require no credit checks. Some auto title loans could be large enough to allow a family to pay for the new car in cash without any of the hassles of dealer financing.

4. Buy When Inventories Change

Dealerships offer more discounts and are more willing to negotiate when attempting to clear old inventory. Dealerships try to sell old inventory fast at the end of each month and after September when new models start coming in. Shopping and negotiating for a new car during these periods will result in noticeable savings.

5. Scrutinize Extended Warranties

Extended warranties are not always necessary or cost-effective. It is important to look at the terms of the warranty, what is needed to maintain the warranty and the overall cost. Some extended warranties actually cost more than standard maintenance and repairs for new vehicles. Additionally, complex terms can invalidate extended warranty coverage if repairs are needed.

Shoppers who are negotiating with a dealer need to be aggressive. This means being prepared to walk away especially when a better offer is available elsewhere. Some dealerships will lower prices or improve an offer just to rescue the sale.