Most people who own or have owned a car know that it can be a costly affair. For some people the price of the car itself is all they focus on, while others look at the whole picture, from insurance and registration fees, to mileage and spare part prices. Today we will list three of the most important things you should consider if you wish to save on your car expenses.
We all have certain things we need our car to accomplish that are universal, such as getting us safely from point A to point B, but other things are more subjective. Do you need advanced air conditioning or the extra large 12 valve engine? When shopping for a new vehicle, it can be a wise decision to list things you absolutely need, and things that would be nice to have.
1. Go to a local dealership that sells the vehicle you want
One of the best tips we can give is to scour your local car dealerships for good deals. Many people first look online at private sales on websites, but going through your local car dealership can come with a variety of benefits.
Local car dealerships will look out for your best interest when buying a vehicle, as their reputation and business depends on good customer relations. It can also be convenient to quickly drop off the car for repairs or warranty issues at your local dealer.
You can still look online for an idea of prices and compare to other models, that way you have some valuable information if you decide to negotiate with your local car dealer. And sometimes you might even be able to bargain with the dealer to match a price you saw online and save some money on the purchase price as well.
2. Get the best interest rate for your auto loan
Most people do not consider interest rates when shopping for their next car. But every little bit counts, and half a percent can add up quickly over the months and years. If you are not happy with your current rates, or if you don’t have any knowledge of this area, speaking with your local car dealership can be a good way to find affordable loans.
Many times you can find some of the best interest rates through your local car dealership, as they often have a good connection and special deal with a bank or other type of lender based on the referrals they get.
3. Check the price of your car insurance for that specific vehicle you want
A sure fire way to save money on your premiums has to do with choosing a car that statistically is considered a safe car by the insurance companies. Car insurance is among other things calculated by the rate of accidents per model, so sometimes it is not just about the engine size or the sales price of the car.
According to Alex Martin from Insurance By Alex, a lot of people go to buy a car and do not bother checking the car insurance rates before they buy it. Then they get shocked when they realise what the premium turns out to be. His advice is to look at the car insurance premiums before choosing the exact model and type of car you want to buy.
By narrowing down your car search to 4-5 models and then contacting insurance companies to learn which cars are cheapest can be an easy way to keep your costs to a minimum while still getting a car with all the features you want.
It does not have to be difficult or time consuming in order to save money on your car expenses. From the purchase price to your monthly bills, a little foresight and planning can go a long way in making sure you get the best deal.