3 Strategies To Avoid Cringe-worthy Debt When Buying A Newer Car

Monday, May 22, 2017, PM | Leave Comment

All vehicles break down, wear out or become obsolete. Eventually, you must either spend ever-increasing amounts of money on repairs and upgrades or replace your vehicle with something newer.

You don’t need to go into extreme debt to purchase a newer car.

Follow these tips to keep the cost low.

3 Strategies To Avoid Cringe-worthy Debt When Buying A Newer Car

  1. Buy A Used Vehicle

    Some drivers get so obsessed with having a brand new car that they forget that plenty of people take care of cars so well or trade vehicles so often that new and used car dealerships have a lot of cars that look, feel and even smell brand new.

    You can often find a newer vehicle that has never been in an accident or damaged in any way at a much lower cost than a brand new one.

    A used car might also be a great choice if you’re struggling with acquiring financing to make the purchase.

    Some used car dealers offer extremely low-interest “second chance” loans to people who have bad or no credit and a current steady income.

  2. Negotiate A Lower Price

    The price of a vehicle isn’t set in stone. Whether you’re dealing with a dealer or an individual, you should always attempt to negotiate a lower price.

    Dealers often reduce prices for students, teachers, veterans, active military members, emergency responders and parents. They typically match competitor offers.

    If you’re a patient with a health problem who needs a vehicle for travel, you might negotiate a lower price if you’re unable to find a car through a charity that provides vehicles free or at incredibly low prices.

    You can negotiate a better, less-expensive deal with individuals as well sometimes by pointing out cosmetic damage.

  3. Visit A Junk Yard

    You may consider buying a car that is newer or still in good condition, but just needs some minor maintenance to get it back on the road.

    You can visit places like U Pull & Pay to find parts that you may need.

    If you want to get rid of your existing car, you can also recoup some of the money spent on a used vehicle and parts by selling your car back to businesses that work in parts, and then you can get a cash return on it.

It doesn’t matter if you need a newer car now or later. You can use these money-saving ideas to make the cost more manageable at any time.

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