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3 Money-Saving Tips For Funding Your Next Family Car

61 percent of Americans feel taken advantage of at car dealerships. This likely comes from a long history of car buyers being given the short end of the deal, being made to overpay for underperforming cars. Add to that the fact that buying a vehicle is an expensive affair. So, if you’re looking to save money and avoid unnecessary costs, you need only follow these three simple tips to help you get the most out of your family vehicle purchase.

Pay with Cash

The best way to purchase a vehicle would be to build up your savings and pay through debit or cash. This ensures minimal financial loss and removes the added hassle of monthly car payments. If you are considering using credit or car loans for your purchase, the best thing you can do is to understand your own credit rating. Several credit analysis services online can help you determine whether the loan is fair for your rating. When done right, this will help you avoid the possibility of high interest rates, risky car dealerships, and credit companies looking to take advantage of your financial situation.

Do Thorough Research to Avoid Unnecessary Features

The last thing you want is to fork over cash for a depreciating asset only to find out that part of the asking price was for features that will hardly even be useful to you. To avoid this, do your homework. Find out what type of car your family will benefit from the most. This involves looking into body styles, interiors, and engine specs.Do you have a sizable family that likes to go camping a lot? Perhaps a full-sized van or an SUV will be of the most service, since you can comfortably sleep inside of them when tent-pitching isn’t an option.

Do you have a small or medium-sized family that just needs to go places quickly and with the best fuel economy? A well-built sedan ought to fit that role nicely. There are some reputable auto review sites that look into the best cars for certain body types, taking into account engine performance, fuel economy, and interior utilities, so checking those out would be a good place to start your research.

Invest in Brand New

Buying second-hand may be tempting, primarily because they’ve almost always got their prices slashed by a significant amount. However, you must consider the fact that cars’ maintenance cost increase as they get more mileage. Newer cars require less maintenance and less likely to break down on you. It may take a while to gather up the cash for a good, new model. But if you factor in the overall costs, choosing a brand new vehicle will be the best value for your budget.

Funding a new car can be a challenge for many families, especially with all the depreciation, extra costs, and interest rates for car loans. Fortunately, with the help of reputable car review sites and these three tips, you will be on your best to snagging the best deal for your next family vehicle.