This is just an easy question to answer once you have dug deep and learned the tricks and common selling traps that traders are supposed to trick you into. The problem is that most people don’t really realize how much they are losing on the cars they own and lease, or how to solve the problem.
Here are the top five places to start saving big on your cars.
Purchase price car
It’s common for people to lose 20% of the top 35% on their cars driving them out of a lot, even if you bought that car at auction or for what the consumer department of Kelly Blue Book and others consider trade-in or define wholesale value .
The first way to save money is to buy a car at a price that allows you to have equity in your car at the time of purchase. This strategy alone will save people a few Skup samochodów Wrocław thousand dollars, and is easy to achieve once you understand where to get up-to-date dealer list estimates for the current mortgage, trade-in, and retail values of a car you’re interested in.
Unnecessary Fees and Surcharges
Most of the fees and surcharges that we are told after we have decided on a car are arguably pure profit for dealers and can easily be avoided. Warranties, service contracts and the like, while associated with costs, are topped up significantly and I don’t think anyone should be willing to pay the asking price. Knowing how to avoid these additional costs can save you hundreds to thousands of dollars or more on every single auto deal you close.
Funding error
What’s added to your loan, the amount you’re funding, and the length of your car loan can cost you hundreds or even thousands more than it needs to be. Combined with the above potential savings, using simple guidelines when financing your car can ensure that you don’t get stuck in a compound loss situation with your car. Having more debt on your car than it’s actually worth is a HUGE problem / no, no.
Depreciation losses
Auto depreciation losses are a result of supply and demand and cannot be avoided. New cars and trucks depreciate faster than used ones, but overall the market tells us that cars depreciate 50% to 70% every four years. There is a simple strategy I use to make an educated guess as to how much depreciation a car will experience from the time of purchase to when it is sold. This strategy alone is responsible for saving me thousands of dollars on every car or truck I buy and I believe it is a must-have strategy for anyone who owns a car.
Exchange your car
All cars have a (dealer listing only) current loan, trade-in and three retail value classifications. The best way to describe the savings here is to ask yourself a simple question, which is, “Why would a dealer pay you more for your car than they can get at any given time?” If money is important to you, trading your car with a car dealer is, in my opinion, the worst choice you can make when trading from one car to another. Trading your car is equivalent to gifting your car dealer from $1,000 to $5,000 or more.
I’ve found that most people don’t have a realistic idea of how much their cars actually cost them out of pocket, and dealerships and their finance companies have done a great job of hiding potential losses from these areas. If they disclosed them before the sale, it wouldn’t be hard to imagine that people would make much wiser decisions when buying a car.
The good news is that there is a unique book that will enable anyone to overcome, if not entirely, these losses and others. Ride free or damn close… Guaranteed! From Mr Drive Free, Anthony Scavuzzo not only addresses the problems clearly, but offers simple effective solutions that anyone can use to take advantage of the savings outlined above.
