It's human nature to always want to get the best deal, whether that's buying a new car, purchasing a new house, or even buying eggs. With that said, cheaper isn't always better. That doesn't mean you should overpay for something; it just means you should determine the actual value, especially when it comes to car prices. If there's one thing the pandemic has done (yawn, there's lots), it's decreased new car inventory to an all-time low. As a result, more people are looking to buy used cars and, like everything else in life, are buying them online instead of at a dealership.
At FFUN Cars we show you how awesome car buying really is when it comes to used vehicles. Don't get too excited yet. In case you decide not to shop with FFUN Cars (not sure why that would be), we want to lay out some points on how to get a good deal and things to avoid to ensure that the "cheap car" you might buy from the other guys isn't just a cheap crappy car that ends up costing you more.
Tips for Getting a Good Deal
Everyone wants a good deal, but there's a difference between wanting a good deal and needing one. Car dealerships love telling you you're getting the "best deal," this is "as low as I can go," or "I'm not making any money on this," blah, blah, blah! Consider a few things before you step foot on a dealership lot (or you could just buy your car from us where we have a ONE price promise).
If you need a good deal because you have a limited budget, you don't need all the bells and whistles of a luxury vehicle. Base models these days provide more standard items than ever before. Gone are the days of upgrades for power windows and door locks or a C.D. changer in the trunk (we’re dating ourselves here). We get it, it’s nice to have all the fancy features like a heated steering wheel and moonroof, but you pay for them. If the amount of your auto loan is low or you have a low cash budget, be flexible on your vehicle choice. Stay away from brand new vehicles and consider going with an older car. Not old, old, but an older pre-loved car.
Stick to popular brands known to be extremely reliable, such as Honda, Toyota, or Nissan. These brands have an excellent resale or trade-in value, last long, and are relatively inexpensive to repair when there is an issue.
Getting a great deal on a vehicle isn't just about the initial car purchase price. It's about the interest rate, car payment amount, car insurance, and cost of repairs.
Cheaper Price Could Mean More Cost
Don't get too excited when you see an SUV from a reputable automaker that is fully loaded, with low mileage and is below market value. Every well-functioning vehicle has a price range depending on the year, make, model, and added features, so if a used vehicle you see has a low price, like way lower than market value, pump the brakes (no pun intended). Many car dealers will convince car buyers that vehicles like this are rare and are the best deal you will ever get. Wrong! The truth is, it's lipstick on a pig, and they've probably had it sitting on the car lot for a long time because the minute someone pulls a CARFAX report, they see everything that's wrong with it. In that case, run as fast as you can from the pushy car salesperson, and come straight to us, where all vehicles come with a free CARFAX report and have gone through a 92-point inspection.
Be wary if a vehicle comes fully loaded and has a cheap sticker price. More times than not, those fancy "upgrades" on a used car you thought were such an incredible deal are what will cost you in the end. They usually call that a ‘get you in the door’ price. And once they have your contact info, then they can load you up with fees or worse yet, a crazy high financing rate and a vehicle you cannot afford. Even if you are fortunate enough to find a used car with amazing upgrades and an incredible price, still take into consideration lifetime ownership cost. Do you know how much that service is on a BMW, Lexus or Audi after the manufacturer warranty expires? Hint, it’s a lot.
Newer, fancier cars are great until they aren't, especially with depreciation and if they don't have an extended warranty. For the past decade or so, the fully-loaded features are all electronic, which means specialists typically have to repair them, and you guessed it, the cost isn't low. That's not to say that all certified pre-owned fully-loaded luxury vehicles with an excellent purchase price will be lemons. We are just saying you should consider the cost of repairs if you are looking for a long-term, low-cost vehicle. Do your research to learn about best-used cars through trusted sites like Edmunds.
Keep it Cheap in the Long Run
To save you money both on the initial purchase price and the long-term cost of owning the vehicle, you can take a few steps to help reduce the cost. Get approved for a car loan at your bank or credit union before you start car shopping because dealerships use their preferred lenders so they can get a financial cut of the dealership interest rate pie. Or (just a thought), getting approved in two minutes with us comes with zero impact to your credit score. Additionally, having a down payment helps lower the monthly payments and decreases the amount you pay in interest rates throughout the auto loan.
Buy a used car for a lower price. New inventory can be hard to get and is way more expensive. When shopping for used vehicles online, do your due diligence if dealing with a private seller. Often private party sellers on sites such as Craigslist are reluctant to disclose the vehicle history, so you must get a vehicle history report before committing to purchasing a used car.
Know the best price for vehicles you are looking at and stay within your budget. Always take a car for a test drive. P.S., at FFUN Cars, you get a 24-hour test drive at no additional cost, which is just one of the many benefits of buying from us. Finally, to avoid a cheaper car being more expensive, don't be afraid to walk away from pushy car sales tactics or if your instincts tell you to walk. There are plenty of used vehicles, especially when you shop at FFUN Cars.
