Tips to Save Money When Buying a Car

I recently discovered a technique that I will now use when I'm looking at a car. I've been to a few dealerships, and sometimes, I see cars that are really new and really cheap. But are they cheap enough? Well, there's a system that I discovered that will help you figure out what "options," as the sales person calls them, are actually factory standards.

For example, I'm looking at a 2009 Mitsubishi Lancer GTS. It's not the lowest of the lows, but it's still pretty reasonable. In dealerships, they would go for around 20 Grand, but don't be so sure the dealer is telling the truth. What I would do is, if you go to your bank, and ask them for some information about the car (usually telling them the VIN works best), they can give you what the car is worth, what "options" come standard, and what the dealer doesn't want you to know - what you're paying for.

Now, as I said, I'm looking at an '09 Mitsubishi Lancer GTS. Now, I checked with my banker, and he said it's around $18,000 new with all the factory standard equipment from the factory. Of course, the dealer will try to convince you that alloy wheels are an option, and that keyless entry is also an option, but don't take their word for it, call the banker.

Now, the banker's goal isn't to sell you a car, it's to possibly open up a loan for you, or whatnot. So, the banker won't be as reluctant to tell you the real price of what the car is worth. And while the dealer will try to go deeper into your pocket, you must go deeper into his head. The sales people will use all sorts of tricks on you, and try to ram the price as high as it goes, because they get paid based on how much money goes out of your pocket.

But it is also their goal to sell you the car because any chance they have to move metal, they will usually take, within reason. They know how low a car can go, and they know how to pull a leg on someone who buys into everything they say, and how to make as big and wide a hole in your bank account as possible.

So, my tip for today - check with your banker. He or she will know every car by VIN, and will tell you just how much it's worth. Usually, if you buy at the dealership without checking what it's worth, you're just paying for the sales person's next vacation.

But, is a dealership the only option? Sometimes, people try to sell their cars, that are nearly brand new. Should you ignore these? I think not. I know this is usually an issue of helping someone. If someone is trying to move their nearly new car off their driveway, possibly because they need money fast, they tend to sell the car for less than what it's worth. So, I think it's still a good idea to shop around private sellers because you might be helping someone by buying their car, and you might be getting it at a steal! Just make sure the car runs good and that you get a full history on the car, so you don't get something that's been in an accident or something.