A car can be quite expensive, especially if it was recently launched and has the latest features. That’s why buyers must not buy in haste. Assessing one’s needs, comparing available offers by different dealerships, and setting a budget limit are steps to finding cheap car deals and saving money. Although this kind of research may take some time, it helps one pick the right vehicle and get their money’s worth.

1. Compare deals
When buying a car, one may come across many dealerships selling cars for a low price. But that does not mean individuals should settle for the first deal they find.

2. Read reviews
Another great way to find the best car prices is to read reviews online. Many people who buy vehicles review the dealership’s pricing plans and let others know about the ongoing market rates of a particular car.

3. Set a budget
Having a budget is essential, even when looking out for cheap cars. Sometimes, individuals may come across an impressive model when researching the market and overpay for it, leading to financial trouble later. Setting a budget in advance can help avoid this and help one only shortlist models they can afford. When calculating the budget, one should consider several factors, such as the selling price of the vehicle, any accessories that need to be purchased, the cost of insurance, and even post-purchase expenses like fuel expenses, maintenance and servicing, and the electricity costs in the case of electric vehicles. Individuals with a very tight budget can opt for a cheap used car deal. Although used cars cost much less, they have all the features one would find in a new car. Finding such cars is easy as many dealerships and online platforms sell them.

4. Plan the payment
Securing finances beforehand is a crucial tip for landing a cheap car deal. Having the payment ready adds leverage for the buyers. Sellers are more likely to agree to a lower price if they are paid for the vehicle upfront. A good way to secure finances is to get a pre-approved loan. This kind of  loan lets the seller know that the buyer is serious about purchasing. One should check with different banks and credit unions for pre-approved auto loans and, while doing so, compare the loan amount, interest rate, and the loan period they are offering. Most financial organizations provide such loans if someone has a good credit score. Getting pre-approval also helps buyers set a budget for their car purchases and prevents impulse decisions and purchases. With pre-approved loans, buyers have a better idea of how far they can stretch their budget, which allows them to shortlist different sellers and cars without overpaying.

5. Determine one’s needs
While a cheap car can save money, individuals must ensure it meets their needs. One should consider what vehicle will be used for, how often it will be driven, the number of people it will need to accommodate, and whether or not it is pet or kid-friendly. Buyers who travel long distances daily might prefer a fuel-efficient car, while those carrying heavy loads might need high hauling capacity. Similarly, people who need to travel short distances might want to invest in electric or hybrid vehicles. Gas or diesel vehicles are a better choice for long-distance travel and frequent highway drives.

6. Consider safety features
When individuals come across cheap deals on used cars for sale near them, they must consider the safety features before signing across the dotted line. One can either research the features online or go to a dealership for information. Some common safety features include airbags, blind-spot monitoring, parking assistance, forward-collision warning, lane-keep assist, lane-departure warning, and adaptive cruise control. Some cars may even have advanced safety features that come optional with the model type one chooses from the lineup. Besides these features, buyers should check the car’s seating capacity and the position of the airbags.

7. Test drive the car
Lured by the low price of a car, people often make the mistake of skipping test drives. A test drive is important because it lets buyers assess the car’s overall condition and know how it performs. When test-driving, one should hear the engine sounds and check how the car feels when idling and accelerating. The other things to check are the gears and transmission shifting, breaks and their responsiveness, steering wheel, suspension, wipers, turn signals, headlights, and other electronic connections. If possible, one should drive on different roads and terrains to see how the car performs.