6 Ways to Save Money When Buying a Car

In today’s market, cars can be pretty expensive. 

Because of this, it’s hardly surprising that 2021 was a disappointing year for new car sales. Due to economic circumstances, people are being much more careful with their money. Plus, many of them don’t have the time or resources to splash the cash on a brand-new motor without getting a loan from the bank. 

But here’s some good news: if you want to buy a car or replace your existing model, you can do this without breaking the bank – and this article is here to prove it. 

Keep reading to discover 6 genius ways you can save money when buying a new car this year and beyond. 

  1. Buy Used

The best way to save money is through buying a used car model instead of a new one – it’s that simple. 

Due to having previous owners and mileage, used cars are automatically cheaper than their brand-new counterparts. 

So, if you’re someone who isn’t fussed about being the first owner of your vehicle, then you should definitely buy used

Best of all, if you want to buy a high-end car like a Land Rover, you’ll be able to make your dream a reality by going for a used model. To get started, check out used land rover Leeds. There’s a wide range of new and old Land Rovers for you to browse. With a clear budget in mind, you’ll be able to find the right one for you in no time. 

  1. Downsize

Usually, bigger cars are more expensive due to their powerful engines. However, if you’re desperate to save some money, you can always consider downsizing to a slightly smaller model. You’ll save money and likely won’t even notice the difference in the long term. On top of this, you’ll also save money on fuel – and what’s not to like about that?  

  1. Part Exchange

When you part exchange your existing car, its value gets deducted from the price of the new car you’re buying. This means that you’re potentially going to save thousands, which could be a real lifesaver. 

If you were thinking about taking your current car to the scrap heap or giving it to a friend or family member for free, you should first consider getting a good part-exchange deal. 

  1. Choose an Older Model

In the world of cars, older models are cheaper than new ones.

If you’re someone who isn’t socially conscious about the age of your number plate, then this is perfect. For example, you’ll save thousands on a 2016 Mercedes model in comparison to a 2021 model, which is worth bearing in mind. 

However, if you opt to choose an older model, its resale value will take a big hit with each year that goes by. 

  1. Negotiate with Your Car Dealer

Are you planning on buying from an independent dealer? Great – this means you have an opportunity to negotiate with them over the phone (or at their dealership) and get them to knock some money off the asking price. Sure, they might refuse to budge, but here are some car dealer negotiation tips to try. 

  1. Split the Payment with Your Spouse

Lastly, if you live with your spouse or partner, you should consider splitting the payment with them. This way, you’ll not have to worry as much about the monthly amount leaving your bank account – and will even be able to add some upgrades to your car with the money you’re saving.  

Related Posts