Let’s face it…it’s time to get a new car. Whether you need a bigger car to accommodate your family or your car is getting too old, we want to make sure you get the best deal. Here are five ways to save whether you lease or purchase a new car.
Get Your Car at the End of the Year
If you have been considering buying or leasing a car, the best time to do so would be towards the end of the year. Let’s say you go to a car dealership on December 31, to buy a car. By going on that date, the odds would be in your favor if you are looking at buying or leasing a 2019 model. Not only do the sales team have a quota to hit by the end of the month for car sales, but they also need to get rid of 2019 cars to make room for their new 2020 models.
As a side note, be mindful that towards the end of the year, the dealerships do begin to sell out of models and colors from the previous year. Because of this, you may not want to wait until the very last minute if you have specific models, colors, and features you want.
Trade-In Your Car
Although you may not see value in your car anymore, others will. Depending on the type of car you currently own and the wear and tear on your vehicle, you may get more money for your car than you think. Some cars hold their value better than others. Once you get the money from your current car, you can use it towards buying or leasing a new car.
Compare Prices at Multiple Dealerships
Even though you may discuss prices with one Ford dealership in Montebello or Cerritos, it is also good to check other Ford dealerships to see if they offer the same prices. Although the prices will most likely be in the same ballpark, there may be one dealership that may offer a cheaper price even if it is the same brand.
Negotiate and Review Your Offer
Once you decide on a car, you can always try to negotiate the price down when discussing with the salesperson. Ultimately, they will try their best to make sure that you do not walk away from the deal.
One important thing to note if you are leasing a car is to check the residual value they ask for. Sometimes, they will trick you by lowering your monthly payment, but they will raise the residual value you pay at the end of your lease, which offers you no real savings.
Get an Auto Loan From a Credit Union
If you decide to purchase your car, an auto loan can be a good option if you can’t afford to pay it upfront. The benefit of being a Camino member is that we offer great rates on auto loans, which means savings for you!
By utilizing these tips, you will be much more prepared when getting your new car.
If you need help paying for your car, we offer great auto loan options. Feel free to give us a call at (800) 835-3400, or stop by a branch. We want to help you get the car of your dreams.