How to Save Money When Buying a Vehicle

3/31/2021

Whenever you’re preparing to purchase a new vehicle, you can expect to spend a lot of money, both on the down payment and on your long-term monthly payments. However, there are some strategies you can employ to cut down a bit on the amount of money you’ll owe.

Here are a few tips for saving money when buying a new car at an Atlanta, GA dealership.

Negotiate

Negotiation is a skill you’ll need to develop if you’re going to be successful with it. You’ll need to both arm yourself with information, and also be personable enough to pull it off. But you can absolutely negotiate the price of your vehicle.

First, come in with the Kelley Blue Book price of the vehicle. You’ll often find you can get the vehicle for that price rather than the listed price, and it tends to be a little lower. You might also consider negotiating over the phone, rather than in person. Salespeople may be more flexible when talking over the phone, as it’s a very different dynamic than negotiating or talking in person.

No matter what negotiating strategies you use, just be kind. You’ll be amazed at how much a good attitude makes a difference. People are more likely to want to deal with you if you’re nice than if you’re a grouch.

Be flexible with your choice

If you really want to save money, don’t go in with a specific make or model in mind. If you don’t have a particularly strong preference with regard to the kind of vehicle you drive, you stand to save a lot of money. Rather than saying you want a Honda Odyssey, just come in knowing you want a minivan, and investigate your options from there. Broadening your search to an extent will open up options for savings you might not otherwise have discovered.

Trade in another vehicle

One way to take a chunk out of the amount of money you’ll have to pay in your loan is to trade in another vehicle. The value of the vehicle you trade in will be subtracted from the amount of money you’ll be paying for your car.

Keep in mind that this is another price you can negotiate. You should come in fully aware of the value of your vehicle, and be ready for the dealership to try to lowball you on the offer for its trade-in value. Typically, dealerships are willing to do a bit of negotiation with trade-in values if it means you’re going to be going home with a car.

Avoid the extras

Dealerships will try to pack in a lot of extras when they sell you a car, including additional features and accessories, certain car care and maintenance packages, etc. Some of these extras might be worth pursuing, while others might not. Carefully consider these individually and don’t feel like you have to say “yes” to all or any of them.

For more information about how to save money on a new car in Atlanta, GA, reach out to Emory Alliance Credit Union today for tips.



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