Buying a car can be very difficult when you are working with a budget. Your mission is to get the best car for as little money as possible. There are several ways you can save money while purchasing a car.
Below are tips and tricks that can help you save money while still getting a functional car.
Downsize what you’re buying
The best way to save money on a car is to be sure that the car you want is also the car you need. You need to ask yourself if you really need a Landcruiser or would a Vitz suffice? Budget cars help you save money not only because they are affordable but also because they will save you a ton of money when it comes to maintenance.
Buying a budget-friendly car doesn’t necessarily mean you have to miss out on the latest technological advancement. Some of them come with enhanced features. Alternatively, you can always modify the car to suit your needs. Think long and hard about exactly why you’re getting that bigger, pricier model before you make your purchase.
Buy an outgoing model
When car shopping, you are likely to save money when you buy a car model that is near the end of its life on sale. Car sales representatives are likely to sell a 2015 model at a lower price compared to a 2019 model. This doesn’t mean there is anything wrong with the earlier model. Keep your eyes open for these amazing deals.
Consider a pre-registered car
Buying a zero mileage car is always on the pricier side. Consider buying a second-hand car with reasonable mileage on it. This may affect its resale value but it will also save you almost a quarter of the original showroom price. When well maintained, a second-hand car can serve you just as well as a brand new car.
Don’t be too choosy
We all have wishlists. We all have cars we desire to own. However, when trying to save money, you have to let go of some of the car specifications on your wishlist to avoid overspending.
You cant insist on having spoilers on your car when it’s an additional Ksh 100,000 to have it. Driving a car without spoilers but just as efficient should be good enough.
Window shop extensively
You can’t assume that every Subaru Imprezza in Kenya will be the same price. It is important to look around and compare prices. You are likely to end up saving more compared to someone who buys the first car that pops up. Ensure that you try to bargain as much as possible to get to the lowest price possible before you start considering buying the car.
Research the best deals for car financing
Pay attention to the interest rates for car financing options that are available. It may be your desire to buy the car as soon as possible but how fast will you be able to pay back the loan and how many thousands will it set you back? Ask yourself these questions before you settle on a car financing option.
If you play your cards well, you will save a lot of money when you purchase your next car. We have put together a detailed handbook, Cheki Car Buyers Guide with more tips that will help ease the car buying process for you.