Tips for Saving Money When Car Shopping

Are you needing a new car?  Buying a car can quickly become very expensive.  Make sure you go in prepared so that you spend only the amount you have budgeted and nothing more.  Follow these great tips for saving money when car shopping and go out and get your new ride!

Research the vehicle.  Once you decide what type of vehicle you are going to buy, be sure and research it well.  It’s reviews, it’s specifications and yes, it’s average selling price.  It is good to go in informed so you know what you should be paying.

Take your own financing.  Prepare your financing in advance.  Apply at your credit union or bank before you head to the dealership and tell the dealer NOT to run your credit again.  They get paid extra to finance through their partners so they will try to get you to choose one of them.  Bringing your own financing can not only save you money in interest charges, but will also prevent your credit from having lots of hits.

Negotiate before you go in.  Do you research and call or go online to the dealer and negotiate for the price you want to pay.  Buying a car is stressful and once you are in the dealership, it’s easy to get overwhelmed.  It’s also easier for many to negotiate prices when you are not face to face with the salesman.  Plus, doing this can save you a ton of time!  I recently bought a car from a dealership, negotiated over the phone over the course of 2 days and walked in and out of that dealership in less than 30 minutes and paying the exact amount we had agreed upon.

Have you bought a new (or new to you) car recently?  What are your favorite money saving tips for car buying?