Cutting The Best Deal On A Brand New Vehicle
During the first half of 2018, new vehicle sales in America grew. This was great news for the industry as overall sales were down 2% last year. However, July saw sales tumble once again, according to latest statistics. With the average cost of a new car up almost 4%, according to Kelley Blue Book, finding a great deal is a must. Therefore, if you’re after something practical for your pending road trip or simply want a new set of wheels, here’s how to get the most for your money.
Don’t be afraid to haggle
The price you see isn’t the price you have to pay. Typically, individuals think it’s just used cars you can haggle on, but you can cut a great deal on a new one too. Start off with a cheeky offer and work your way up to a final figure both parties are happy with. The Washington Post advises that confident hagglers can expect to save as much as $5,000 off the price of a new car, so it’s worth giving it a go for the sake of your finances. Salespeople have strict sales targets to meet and they’ll want your business, so it’s worth playing dealers off each other to grab the best bargain.
Ditch the extras
A unique body color, alloy wheels, built in sat nav, sport seats and an eco engine might be nice extras to have on your vehicle, but they can hugely inflate the final price of your car. As a result, Edmunds estimates that by the end of the year, the typical American will fork out $36,495 on a new vehicle. It’s also essential to remember that these extras are often classed as modifications by your insurer. This means that you must declare them and will likely end up paying a higher annual premium. Therefore, think carefully before agreeing to optional extras and consider whether it’s something that will truly benefit you and the overall value of your car.
On the road
According to Experian, in 2017, the average cost of running a car was $8,469, which is a hefty sum for anyone. To cut your driving expenses, shop around for vehicle cover and products such as auto insurance and breakdown cover as there are some great deals to be found. Meanwhile, the AAA reports that a new vehicle will consume $1,500 worth of fuel annually. To reduce this outlay, avoid driving when walking is an option and always shop around for the lowest fuel prices in your area.
Buying a new car isn’t cheap, but there are ways to lower the final price you pay. At the dealers don’t be afraid to haggle to secure a great deal and avoid signing up to optional extras which you don’t need and won’t add value to your car. Insurance, breakdown cover and fuel can all cost less too, simply by shopping around for them.