car
Free Rental Car Upgrade
Unless you need to rent a large vehicle, go online (CarRentals.com, for example) and reserve the smallest car they have.
Once you go pick up the car, there is a good chance that all their small cars will already be rented. (Most people rent the smallest car, especially in this economy, because it costs less).
They will then be “forced” to upgrade you to a larger car, at no extra cost to you!
Free Online Advertising on CraigsList.com and PennySaverUSA.com
List items for sale free of charge on
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Car Repairs
The car dealership recommended that some repairs be performed on my car.
I got two other quotes from other dealers, as well as a fourth estimate from an independent shop.
I did not have to drive anywhere. I did it all via email and fax.
The quotes from the 3 dealerships were as follows: $1,930, $2,340 and $1,390.
The independent shop sent me the lowest quote (as expected): $830.
What I did not expect, was the huge difference between the 3 dealers’ quotes!
It pays to shop around.
ZipCar.com
An alternative to car rental and car ownership.
Zipcar members report an average monthly savings of more than $500 compared to car ownership.
Refinance your Cars
Avoid long-term loans.
It is important to lower your car’s monthly payments by finding a better interest rate, not by elongating the term of your loan. Sure, a longer term would also result in lower payments. However, it comes with a price. You would end up paying a lot more interest.
Furthermore, before long, you would owe more on your vehicle than what it is actually worth. Thus, should you choose to sell your automobile before the term is over, you would still owe a balance on it. The proceeds from the sale of your car would not be enough to repay the loan back in full.
Most likely, though, you are selling your old car in order to buy a new one. If you trade-in your old vehicle at the dealership, the dealer will be happy to add the amount you still owe on the old car to the new car’s loan. At this point, you would end up paying for two cars, one of which you do not even own anymore.
Credit unions.
In the past, you would have to be a part of an elite society, or work for the government, in order to be considered as an applicant to become a member. This is no longer true. Nowadays, as long as you live or work within a certain radius of a credit union, they will welcome you into their “family”. Hence, you too will be able to benefit from lower interest rates. Obviously, it might be possible to obtain a better rate from a financial institution other than a credit union. Always consider all your options before committing to a lender.
Car Price Negotiation
When shopping for a new car, you can save a lot of time, effort and energy by shopping online first.
All new-car dealerships employ an internet manager.
You can therefore begin negotiating online, before you even set foot in the dealership.
Say ‘Dealership A’ is quoting you a higher price than ‘Dealership B’. You could reply back to ‘Dealership A’ stating that ‘Dealership B’ has quoted a lower price, and ask them if this is the best they could do. Don’t be surprised if ‘Dealership A’ replies with a new price, now lower than ‘Dealership B’. Try doing this with 5 to 10 dealerships, and you’ll be amazed at how much money you can save.
Negotiating a Better Price on a Used Car
When buying a used car from a private seller, ask him/her to have the dealership inspect it.
You don’t have to take it to the dealership where the car was originally bought. However, if you’re planning on buying a Toyota, for example, drive the car to a Toyota dealership.
If the seller says no, move on, he/she has something to hide.
If the seller is ok with it, go there with him/her and ask them to perform a comprehensive inspection of the vehicle. Is is customary for the buyer to pay this fee. (It is probably best you schedule an appointment before showing up).
Dealers are known for finding even the smallest issue on a car. They are also known for charging a lot more for repairs, when compared to independent shops.
Unless the seller was a car nut who was taking meticulous care of his car, the dealer’s mechanic inspecting the vehicle will come up with a list of things that are wrong with the car, along with prices to have them fixed.
Use this as your weapon to negotiate a better price.
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