8 Tips for Finding Deals When Purchasing a Vehicle

8 Tips for Finding Deals When Purchasing a Vehicle

Buying a car or truck doesn't have to empty your bank account. With a little preparation and smart shopping, you can find a great deal that fits both your needs and your budget. 

Here are some practical tips to help you save money on your vehicle purchase:

1. Decide on your budget before you shop

How much can you comfortably afford before shopping for a vehicle?  Be sure to include expenses like insurance, registration, fuel, and possible repair costs and preventive maintenance, not just the monthly payment.

2. Research vehicle prices in your area

Compare prices of the vehicle you're interested in by using not only a variety of reputable automotive websites, but also comparing prices of dealerships, private sellers, and certified pre-owned programs. If one dealership's price seems almost too good to be true, double-check what's included. Sometimes "great deal" is followed by a very long list of extra fees.

Note: Know the average market value of the vehicle you have in mind. You can easily find a vehicle's market value online using trusted resources like Kelley Blue Book, which provides reliable pricing based on your local market.

3. Consider buying a used vehicle

A gently used vehicle often offers the best value. Buying used can provide outstanding savings while still offering modern safety features and reliability.

Many used vehicles are only a few years old, have low mileage, and still include part of the original factory warranty.

4. Time your purchase

If you are not in a hurry and you have time to look around for the best deals, the timing of your purchase can help significantly to save you money on the purchase of a vehicle. 

Note: Dealerships may offer discounts on vehicles at the end of the month, but especially at the end of the year when they are trying to clear inventory for the next year's models. 

5. Look for manufacturer incentives

Many automakers offer cash rebates, low-interest financing, lease specials, or discounts for students, military members, and recent graduates. Ask the salesperson about available incentives before making your purchase.

Some manufacturers also offer loyalty or conquest incentives for current owners of certain brands.

6. Negotiate the total price

Focus on negotiating the vehicle's total purchase price rather than just the monthly payment. A lower monthly payment may simply mean a longer loan term, which can cost more over time.

If you're financing, also compare interest rates from your bank or credit union before visiting the dealership.

7. Don't forget to get the vehicle inspected before you purchase

If you're buying a used vehicle, have it inspected by a trusted mechanic before purchasing. Spending a little on an inspection could prevent expensive repairs later. A pre-purchase inspection usually costs between about $100 and $250, depending on the vehicle and your location, but it can save you thousands in unexpected repairs. (Some mechanics may give a free inspection if you ask. )

8. Be patient and be willing to walk away

If the deal doesn't feel right, don't be afraid to leave. There are always other vehicles available, and if you are not in a hurry to buy, this will often lead to a better price.

Note: Finding a great deal on a vehicle takes research, patience, and smart decision-making. 

At NHSA, our goal is to provide online driver education courses that equip all drivers with what they need to be safe drivers.  Whether you are a teen seeking a learner’s permit, or an adult driver seeking a basic driver safety course, check us out online to see what courses are available in your state!