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So, you’ve found a car that’s absolutely perfect for you; it’s everything you’ve ever dreamed of. But there’s just one problem, it’s out of your price range. However, don’t be upset, because there are ways for you to try and make a car more affordable:
Exchange Your Old Vehicle
One way to make a car more affordable is to use your old car as part of an exchange deal. Most good dealerships will let you do this when buying a car, so it’s a handy trick to use. It can save you the hassle of trying to sell your car and also allow you to afford the car you want. Sometimes there will be requirements you need to consider to see if your car is eligible for exchange. Not many dealers will accept a completely broken down car, it has to be fully functional.
Take Out A Loan
If you’ve spotted your dream car but can’t quite afford it, then consider taking out a car loan. Taking out a loan can make a car go from being over your budget to easily affordable. Just remember to shop around for the best deal on your loan and take into account interest rates. You’ll have to pay the loan back too, so don’t get one that’s too big and will be hard to repay. You could use a car loan repayment calculator to figure out how long it will take you to pay back your loan.
Haggle With The Dealer
Never settle for the asking price of a car, never. I’m yet to encounter a dealer who isn’t willing to negotiate the cost of a car. If you haggle with your dealer, then you can easily get the price cut down by a considerable amount. Make them desperate for your business by telling them that you aren’t interested and are going to a rival dealership instead. This will grab their attention, and they’ll be more than willing to listen to any counter offers. In some instances, you could leave altogether and give them your number to see if they call you back. If they do, then that shows they need you and your money, which gives you leverage.
Time Your Purchase Well
There are certain times that are better for you to be buying a car. Go to car dealerships on the last day of the month if you want to try and get a deal. Most car salespeople get paid depending on their monthly performance, so they’re always looking for some last minute sales. This means they’re more willing to let cars go for cheaper prices. So, a car that you couldn’t afford at the start of the month might just be affordable at the end of it.
Don’t feel sad if the car you want seems a little bit too expensive at first sight. If you adopt some of the tips above, the car may soon become affordable. But be realistic, these tips are only here to help you afford cars marginally out of your reach.