The topic for today’s blog post is one born out of a personal dilemma. Well, it’s not a dilemma in the sense that something quite bad will happen if I choose the wrong option. At the moment, I am without a car. I’m undecided on whether to get a brand new or used car.
I know that both options have their pros and cons. But the main sticking point for me, and perhaps for most people, is cost. It’s no secret that brand new cars cost a lot more to get than used models.
Now I wouldn’t say that I’m sailing close to the wind from a financial point of view. But in these turbulent times one has to be careful with their money – something I am keen to do. Upon doing some research, it turns out it is possible to get a brand new car without breaking the bank!
Credit: M 93
In today’s blog post, I will share with you the steps you can take to do so. Because of what I have discovered, I will be opting for a new car rather than a used one. You might think I’m nuts doing that. But once you read this blog post in its entirety, you too will learn how to be a savvy new car shopper!
Research the car you want
Before we talk about how you can save money on getting a brand new car, it’s important that you’re certain about the car you want. A lot of folks get new cars just because of their looks rather than what they’re like to drive or own.
That’s a bad way of getting a car because those people usually end up with cars they grow to hate! Before you decide on a specific model, consider drawing up a shortlist of ones you like.
Next, do some online research on them and take them out for test drives. Only then will you have an idea of what is the perfect car for you!
Be wise with your timing
You can buy a car at any time of the year. But if you time your visit to the dealership well, you will end up saving lots of cash! For instance, let’s say you want to buy a sexy new GT-86 from your local Inchcape Toyota dealership.
Keep an eye out on any special promotions they might have on that model. Car dealers in general have monthly and quarterly targets to meet. You are likely to find special promotions on cars towards the end of the month or quarter.
Save up some cash
I’ve seen plenty of offers where you can get a 0% interest deal on a new car if you come up with a 40% downpayment. If you can save up that 40%, it’s worth taking advantage of such offers.
Not only will your monthly payments be low, but you won’t have to pay a cent of interest on the money you borrow!
Thanks for reading – and good luck!