How to Save When Buying a New Car in 2020

Buying a new car in 2020 is one way to get your year off to a great start. Right now, vehicles are going for great prices, and you have many options for finding a car that fits your lifestyle and budget. While you will have to put out some money for a new car, it is possible to save while you do it by doing a little prep work.

Work on Your Credit Score

The majority of car purchases require an auto loan, and the interest that you pay over the course of your loan is one of your biggest expenses. A good down payment can help you keep the total loan balance lower, and you can get a better interest rate by watching your credit score. 

Keep in mind that you don’t need a perfect score to get a loan, but having one that demonstrates your financial responsibility helps you lock in a lower rate.

Look for Transparent Pricing

One of the biggest complaints that car buyers have is about needing to haggle about their car loan. Dealerships that artificially inflate prices for the sake of expecting a negotiation often come out ahead in the deal. Instead, look for a provider like a Hyundai dealer in your area that takes pride in providing transparent pricing. 

Being able to see their prices on their website and know that they reflect the actual value helps you move through the buying process faster and with the assurance that you need to know you are not being taken for a ride.

Ask About Special Discounts

Dealerships also offer discounts that you can use to save money. For instance, if you work with emergency response, you might mention your status as a first responder and discover that there are special credits offered just for you. Other discounts might include bundling options into your purchase, or specials for specific cars.

Think About Future Savings

Some of the best savings on a new car purchase don’t happen at the point of sale. Instead, you might find that having complimentary services on your vehicle for a period of time can help you save money down the road. The type of car that you buy can also make a difference. Hybrid vehicles tend to help you save money on fuel costs over the life of the vehicle.

Getting the best car for your money shouldn’t be a hassle. Always work with a reputable dealer who simplifies the car buying process, and be prepared by having a general idea of what you want before you head out on a test drive. You’ll save money and time while ending up with a car that you are proud to drive in your community.

Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most of her time hiking, biking, and gardening. For more information, contact Brooke via Facebook at facebook.com/brooke.chaplan or Twitter @BrookeChaplan