Question: What Is The Cheapest Way To Buy A Car?

What is the sweet spot for buying a used car?

When you’re buying a used car, I’d say the sweet spot is two-three years and 24,000 to 36,000 miles.

At that point, lots of cars will have depreciated by about a third.

Some more, some less.

But with most new cars easily going 100,000 to 150,000 miles, you’re buying the majority of the car’s life, for a third off..

Is it better to buy used or new car?

While nearly everything about used cars costs less, buying a new car has its advantages. … You’ll need to wait several years to get them in used cars. Peace of mind: A new car will likely be more reliable than a used one, even though pre-owned cars are much more dependable than in the past.

What is the best financial way to buy a car?

Unless you’re looking at 0% or another really low APR, the best way to buy a car is with cash. If you have to get a car loan, be as pragmatic as possible. Know your credit score going in. Shop for a loan before you go to the dealership and use those offers as leverage to get the lowest APR possible.

How do you talk down a car salesman?

How to Talk Down a Car DealerTake Your Time.Arm Yourself With Information.Learn the Games Dealers Play.Make a Reasonable Offer and Stick to It.Practice Saying, “No, Thank You”How Much Can You Expect to Save?

What states are cheapest to buy a car?

Cheapest States:Oregon; $127 average total fees; 0.8 percent of sales price;Alaska; $356 average total fees; 2.2 percent of sales price;New Hampshire; $359 average total fees; 2.2 percent of sales price;Montana; $724 average total fees; 4.4 percent of sales price;More items…

Which used cars NOT to buy?

Listed alphabetically by make and model, these 108 vehicles have a record of much-worse-than-average reliability, based on subscriber responses to our Annual Auto Surveys….Worst Used Cars.ModelYear(s) to AvoidFordFocus2012-2017FordMustang2015-2016, 2018FordRanger2019GMCAcadia2011-2013, 2016-2017, 2020118 more rows•Jan 4, 2021

How can I get a newer car for cheap?

Here are some things to look at if you’re looking at the cheapest way to buy a car.Buy A Cheap Car With Cash. … Get Pre-approved If You Aren’t Paying All In Cash. … Research Your New Vehicle and Stay Flexible. … Find Out The True Ownership Cost. … Rent Before Buying. … Buy A Car At The Right Time. … Scope Out Old Car Inventory.More items…•Nov 18, 2019

What car can I buy for 1000?

15 Used Cars You Can Buy for Under $1,000 in 20212004 Toyota Camry: Selling Price: $800.2000 Honda CR-V: Selling Price: $900.2003 Ford Taurus: Selling Price: $700.2001 Volvo S80: Selling Price: $950.2001 Honda Civic: Selling Price: $750.1996 Volvo 850: Selling Price: $500.2005 Subaru Outback: Selling Price: $800.More items…•Oct 19, 2020

What is the cheapest month to buy a car?

Shop late in the year and late in the month The months of October, November and December are the best time of year to buy a car. Car dealerships have sales quotas, which typically break down into yearly, quarterly and monthly sales goals.

What is the smartest way to buy a car?

1. Get preapproved for a loan before you set foot in a dealer’s lot. “The single best advice I can give to people is to get preapproved for a car loan from your bank, a credit union or an online lender,” says Philip Reed.

What should you not say to a car salesman?

10 Things You Should Never Say to a Car Salesman“I really love this car”“I don’t know that much about cars”“My trade-in is outside”“I don’t want to get taken to the cleaners”“My credit isn’t that good”“I’m paying cash”“I need to buy a car today”“I need a monthly payment under $350”More items…•Jan 6, 2021

Where is the cheapest place to buy a car?

The cheapest city to buy a used car might surprise you, as its cost of living is pretty high. However, Miami, Florida comes in as the cheapest city for used cars. Rounding out the top 5 cheapest cities for used cars are Cleveland, Ohio; Akron, Ohio; Stamford, Connecticut; and New York, New York.

Do Dealers prefer cash or financing?

But that’s not how car buying works. Dealers prefer buyers who finance because they can make a profit on the loan – therefore, you should never tell them you’re paying cash. You should aim to get pricing from at least 10 dealerships. Since each dealer is selling a commodity, you want to get them in a bidding war.

How much can you talk down a used car?

If the dealer is asking $18,000, for example, but you believe it’s only worth $15,000 based on your research, you may decide to meet in the middle and offer $16,500. The most important thing to remember is to set your buying max before trying to negotiate.

Is it better to finance a car through bank or dealership?

In some cases, however, a dealer may negotiate a higher interest rate with you than what the lender offers and take the difference as compensation for handling the financing. … In general, you can usually get lower interest rates on a new car through a dealer than on a used car.