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Thread: How to Save Money on Buying a New Car?

  1. #1
    Join Date
    Mar 2009
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    Sydney, Australia
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    Default How to Save Money on Buying a New Car?


    How to Save Money on Buying a New Car?

    Buying a new car can be very expensive. Even the cheaper models still cost thousands of dollars. Fortunately, there are a few methods you can use to get the cost of your car down to a more reasonable amount. By taking advantage of all these ideas, you can save a good amount of money when you buy your next new car.

    Always Negotiate Over the Buying Price

    If you accept the first price for your car, you’re paying way too much. Car dealers add a huge mark up to their inventory; roughly a 6 to 8% profit margin. This adds up to hundreds of dollars in extra payments. Do you have this money to waste? Probably not, so you need to negotiate.

    Before going to the dealer, look online at listings of the car you want. See what its average sales price is as well as some of the lowest selling prices in the country. This sets the base for your negotiations. When you go to the car dealership, counteroffer the initial price with an offer below what you are willing to pay. The salesman will negotiate back with you and the price will go up, but hopefully it will end near your target price. The savings here are well worth a bit of extra work.

    Get the Best Financing through Platinum Direct

    Since a car is such a big ticket item, most Australians need to finance this purchase with a loan that charges interest. Your loan interest rate makes a big difference on the amount you need to pay each month. However, many shoppers don’t take the time to compare rates. They usually just accept the dealer financing which, while convenient, is also quite expensive.

    With Platinum Direct, you have an easy way to compare all your loan options. Our specialists have access to a range of loan rates across Australia. Helping you analyse your current situation and match you up with the loan that saves you the most money.

    Use a Car Refinance to Get a Better Loan

    Whenever you want, you can refinance your car loan. This switches your old loan into another one with different terms. This can save you money if you during your contract you think you could upgrade to a less expensive loan.

    One reason this might happen is because your credit history has improved. Creditors base your interest rate on the length of your credit history. This is a problem for new car buyers that haven’t had a chance to build a history. After a couple years of paying off your car though, your history should be much stronger. You could also get a better loan if the market interest rate has gone down. Why keep paying the old interest rate when a cheaper one is available on the market?

    Don’t pay a dollar more than you have to for your new car. By using these tips, you’ll be sure to get the very best possible deal. Platinum Direct can help you buy a new car, with a team of consultants whose primary focus is buying a new car for customers. Contact Platinum Direct for car buying services, car financing and car refinancing today.
    Last edited by motorculture; 26-02-2013 at 01:07 AM.
    Automotive social media http://motorculture.com.au or call us on 02 9418 9008

    For some daily car culture check out http://zengarage.com.au/

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