Blog

The new year is a time for fresh starts, and for many, it’s also the perfect time to upgrade their ride. Whether you’re eyeing a sleek sedan or a rugged SUV, buying a car is a significant financial decision that requires careful planning. Fortunately, with the right strategies, you can save big while driving away in a vehicle that fits your needs and budget. Here are some essential tips to help you save money on your next car purchase.

1. Take Advantage of New Year Specials

Car dealerships often kick off the year with enticing promotions to clear out old inventory and make room for new models. Here are some common deals to watch for:

• Discounts on Last Year’s Models: Many dealerships offer substantial discounts on cars from the previous model year. These vehicles are brand new but priced lower to make way for incoming inventory.
• Cashback Offers: Manufacturers and dealerships sometimes provide cashback incentives, which can significantly reduce the purchase price.
• Low-Interest Financing: Special financing deals, such as 0% interest for a set period, can save you thousands over the life of your loan.

Make it a habit to check dealership websites, subscribe to their newsletters, and visit showrooms to stay informed about current deals. Find our current specials here.

2. Define Your Needs and Stick to Your Budget

Before stepping foot in a dealership, take the time to determine exactly what you need in a car. Ask yourself these questions:

• How many passengers will the car need to accommodate?
• What type of driving will you do most often (city, highway, or off-road)?
• What features are essential, and which ones are “nice-to-have” but not necessary?

Once you have a clear picture of your needs, set a realistic budget and stick to it. Avoid being swayed by flashy features or persuasive sales tactics that could lead you to overspend.

3. Consider the Total Cost of Ownership

The sticker price is just one part of the equation. Be sure to factor in other costs such as:

• Insurance premiums
• Fuel efficiency
• Maintenance and repair expenses
• Depreciation

A car that’s cheaper upfront may end up costing more in the long run if it has high maintenance costs or poor fuel economy.

4. Explore Certified Pre-Owned Options

If a brand-new car isn’t a must, consider a certified pre-owned (CPO) vehicle. These cars have been thoroughly inspected, have extended warranties, and are often significantly less expensive than new models. You can view our affordable used vehicles here.

5. Be Cautious with Add-Ons

Dealerships often offer a range of add-ons, from extended warranties to paint protection packages. While some of these can be beneficial, others may not be worth the extra cost. Carefully evaluate each add-on and decline anything that doesn’t align with your needs or budget.

6. Time Your Purchase Strategically

Timing can play a crucial role in getting the best deal. The end of the month, quarter, or year is often a great time to buy, as salespeople may be eager to hit their targets and more willing to negotiate.

Buying a car doesn’t have to break the bank. By taking advantage of New Year specials, sticking to your budget, and being a savvy shopper, you can drive away with a great deal. Remember, the goal is to find a car that meets your needs without compromising your financial health. Here’s to a new year filled with exciting journeys in your new ride! Turn the corner with Kelston’s smart savings this year! Click here.