How You Can Save Money After You Buy Your Next Car

When it comes to a big purchase like a vehicle, every penny counts. Being a well-educated consumer can not only boost your confidence but can reap financial benefits as well. Our team at Lincoln Heights Ford is here to help you learn how to utilize your resources and save money in ways you may not have considered before!

2020 07 27

Do Your Homework

Research is vital when aiming to make an informed purchase. Thankfully, technology has advanced consumerism so that we all have immediate access to important information to aid us in our decision-making.

Reading reviews and mission statements of different dealerships in your surrounding areas can be a good starting point to identify where you might want to shop. Even narrowing down and studying the make and model of the car you're considering can help you determine your car-buying budget. There's no shortage of resources online that provide information regarding these topics and more, so make sure to take notes!

Go Used

It can be tempting to browse the new models and try to stretch your budget for a sweet ride, but that's not always the most feasible option. Fortunately, it's not uncommon to find some great deals on barely-used vehicles, especially if you shop for Certified Pre-Owned cars. These aren't just low-mileage and lightly used, but are also warranty-backed vehicles that may be a bit more expensive than non-CPOs. However, they are less expensive than newer models. Our used inventory at Lincoln Heights Ford is full of vehicles in great condition waiting for you to drive off the lot!

Utilize Your Trade-In Value

If you have a vehicle available while you're looking at the market for a new ride, you can use that to your advantage. You can look up the current trade-in value of your car on the internet to get a rough idea of what it's worth, and once the dealer makes an offer, you can use your knowledge to test for any leniency. Not only could you potentially get a hefty credit toward your purchase, but some dealerships even let you use trade-in value as a down payment.

Even if you have an old or barely-running clunker, some dealerships will throw you a little credit just to take it off of your hands. If you're curious about how Lincoln Heights Ford would appraise your vehicle, stop by today and talk to one of our professional dealers!

Keep An Eye Out for Discounts or Wiggle Room

This ties back to researching and studying before making your decision, but it's a significant point to mention. Asking about current specials or concessions is a good starting point, but inquiring about preferred employer discounts, military/police/National Guard discounts, and more can lead to more savings than you may have anticipated. You can also check for cash rebates and financing specials.

Another under-mentioned tip is to try for some "wiggle room." Don't be afraid to ask questions and press further into the answers you get. How set in stone is the vehicle's price? If I'm considering between here and the other dealer, what could you offer me to leave in this car today? It never hurts to ask, because the very worst thing that could happen is you get a "no," and you never know what might earn a yes!

Take Your Time

This can be one of the hardest points to achieve. The process of buying a car can be so frenzied and anxiety-inducing that we forget it's a learning process as well. It's okay to make mistakes; we learn from trial and error, and that takes time.

Keeping an eye on the market and watching how rates fluctuate and react can really give you a better understanding of how it works. What do the rates look like during the busy season? What about when traffic is slowed down? What types of specials and concessions are offered and when? A lot of deals can be time-sensitive, so while it is good to be patient, it's also important to keep an eye on any opportunities that may be passing.

Check Your Money-Saving Options at Lincoln Heights Ford, Serving Ottawa and its Surrounding Areas!

With these tools, you now have a great head start to making an informed vehicle purchase! This is far from everything, however, so don't forget to conduct your own research. Afterward, put your knowledge to the test and stop by Lincoln Heights Ford in Ottawa to speak with our amazing staff who can help you get into your new set of wheels today!

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