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How To Save Money When Buying A Car |
In case you were wondering why you shouldn?t buy a new car from a dealership here?s why. If you were to go out right now and buy a new car from a dealer, you?ll be paying full price less the additional extras the salesman throws in to get you to buy it.
After the first two years of the new car?s life, you?ll automatically loose up to 40% of the value of the car assuming you bought it brand new. And on top of that if your new car was five years old it?ll loose up to 65% of its original price. So the logical thing to do is to buy a car between 3 and 5 years old. So you don?t loose half the value because it?s already halved. So my advice to you is to buy a used car instead of a new car.
So in theory if you bought a 4 year old car it?ll already have lots around 50% of its original value. Thus in 2 years when you sell it you?ll theoretically loose about 15% of the value you paid for less all the running expenses. There it is, one of the secrets in saving money when buying a car.
Now here?s another secret to saving money when buying a car. Have you ever heard of a car auction? Or an online car auction? How it works is really simple. Usually cars on auctions, be it reposed cars, ex government cars, or dealerships getting rid of old stock, you really can?t go wrong when you buy a car from an auction.
When you buy from a normal dealership you have to pay the premium price when you buy at auctions you?re paying wholesale rates. One of the best ways to save money is to head to a local car auction site or you can search online for an online car auction website.
You?ll be presented with all the necessary guarantees such as misrepresentation, meaning if you buy a car online and it gets shipped to you, you inspect it and it?s not the same as advertised, you?ll be entitled to a refund. Same goes for local car auctions. You can test drive the car before you settle to buy it, but only after you?ve won the bid.
So there you have it, the two secrets to saving money on cars. Make sure you do you research before buying any car online and offline by inspecting it carefully. Good luck and I hope you save lots of money!
Article written by Marc Lindsay (car auctions)
This entry was posted on Friday, April 27th, 2007 and is filed under Buying A Used Car. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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