ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Saving Money on Buying a Car

Updated on March 5, 2007

Buying a car has to rank in the top five things I most dread doing. Why is it I always feel as if I am being ripped off? Since our last car purchase five years ago I have talked to a lot of people and done a lot of research to educate myself on saving money when buying a car. I do not want to ever feel as if I have been ripped off again. One of the things I have found is that you need to be willing to walk away at any point. Knowing this will keep you motivated to negotiate the best deal you can. If the seller knows this, then there are more willing to give you the best deal they can. That being said, here are some of the ways I plan to save money on my next car purchase.

The first thing I learned is just how much a new car depreciates in value when you drive it off the lot. Why is it that one day it is worth $20,000 and the next as you drive it home it is worth $17,000? That makes no sense to me and has caused me to rethink buying a new car. A car one to two years old is a much wiser purchase. The original owner took the brunt of the depreciation. If there were any kinks to work out, they were worked out with the original owner. This results in less time in the shop and hassle on my end, which in the long run is a money saver.

There are many ways to purchase a car and how you purchase a car has a huge effect on how much you pay for a car. Purchasing a car from a dealer, new or used, is probably the most used option. This is also the option that is going to cost you the most money. Buying a car from a person can result in a much better deal. Some things to make sure of are that maintenance records have been kept, that the person seems honest (go with your instinct here if you don't know them), and that you have a reputable mechanic check it out before you actually buy the car. Making sure that the car has not been in an accident is something your mechanic can tell you, and very important in preventing problems down the road. Low milage on the car is a huge plus.

Paying cash for a car will always get you a better deal than financing the purchase will. If you are talking with a person about buying their car and you have the cash on hand, you are in a great position to negotiate. When a seller sees the cash in front of them and realizes they could be rid of the car that minute and have cash in hand, not the red tape of financing, they are much more willing to lower their asking price.

Another option in purchasing a car that has come about in the last few years is using a car broker. This works by you telling the broker exactly what you are looking for in a car and them finding it for you. There is a fee for this, it should be a flat rate fee, agreed upon ahead of time. These brokers will get the rock bottom prices for you, while making sure that the car is in tip top shape. This is a big time saver and it saves you from doing the haggling, which to me makes it worth it.

Ebay has become a good place to purchase vehicles as well. I am unsure of how you would have a mechanic check it out, as many times the vehicle is in another state than the buyer, but if I were buying a car off of Ebay I would make sure that before the sale was final, I could have a mechanic check it out. Usually the buyer is responsible for picking the car up, which can add to the expense of the car. This is a good option when looking for a car with hard to find options. I have heard of people getting great deals through Ebay.

Auto auctions are another place to purchase vehicles. To use this option you really need to know a lot about the cars you are interested in, as well as being open to different cars. If you go in with only one make and model of car, you are likely to be disappointed. Either they won't have that exact car available, or if they do, you could easily end up getting attached to the vehicle before buying it and wind up bidding more than you can afford or more than it is worth. When dealing with auctions, the purchases are usually "as is", meaning you do not have the option of having a mechanic look it over.

It is easy to spend too much when purchasing a new or used car. Planning ahead and doing lots of research ahead of time, will allow you to negotiate wisely and save money on your purchase. After doing lots of research on this I now believe it is just as easy to get a great deal and save money on car purchases, as it once was for me to overpay. The key is to not get too attached to any particluar car. You have to be willing to walk away, no matter how or where you are trying to purchase a car. Being willing to walk away will save you money on car purchases.

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: "https://hubpages.com/privacy-policy#gdpr"

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)