Tips to Save Money During the Car Buying Process | Xtreme Motors LtdXtreme Motors, Quality Service and Car Deals in Cambridge!
If you’re looking to find car deals in Cambridge, know that it takes a quality car dealership AND a few key strategies to find the right deal. Finding a deal isn’t necessarily just finding a good price — it’s also creating a situation that lets you make a good financial decision for yourself in the long run.
Once you’re armed with this knowledge, you, the buyer, can put yourself into a far better position to have all of your objectives met when you walk into the car dealership.
Aside from standard practices like: knowing your budget, getting a pre-approved car loan or having knowledge of appropriate interest rates, there are a number of things you can do to significantly lower the cost of owning a new car.
Having this, on top of finding car deals in Cambridge, will help you drive away from an excellent purchase from Xtreme Motors.
First things first, avoid buying a new car before paying off an old one
According to Canadian Living, consumer debt in Canada has a direct correlation to car loans that extend past 6-7 years. This is often the result of buying a car out of an affordable price range.
In order to avoid this, you simply should pay off any previous car loans, understand your trade-in value if applicable, and know what you can truly afford in order to keep up with a shorter loan period.
The general rule of thumb is: the longer your car loan period is, the higher the interest rate will be.
If you can find good car deals in Cambridge AND get into a shorter 60 month loan period (roughly 5 years), this will help you save significantly in the long run and shield you from crippling interest rates.
Ask questions to understand the pricing
If you’re offered a low interest rate, make sure that the dealer is being transparent about the sales price and any other fees. The worst is to find out that your low interest rate ends up not being worth it due to additional fees you didn’t know about.
Consider off-peak purchases
Shopping at the end of the month or even during an off-peak season like in the winter or early spring can also help you save significantly. Why? Sometimes, manufacturers and dealerships need to meet monthly / seasonal quotas and will be even more likely to give you a good car deal in Cambridge.
If you’re looking for car deals in Cambridge, Xtreme Motors can be of help. We have a wide selection of new and used vehicles, an array of financing options and trained specialists who can help you find your ideal vehicle!