Best Ways to Save Money on Your Car

Buying a car can be expensive, but it doesn’t have to be. In fact, by following just a few simple rules, you will find yourself able to make significant savings on your vehicle. If you make the wrong mistakes, however, you could end up significantly in debt. To make sure that you make the right decisions when buying a car and that you don’t end up out of pocket in the process, the following guide has been created. Read on now to learn all about it.

Buy Second Hand

You can make highly significant savings on your car purchases if you buy a car second-hand. This is because cars rapidly depreciate in value. Assuming 10,000 miles are driven each year, a car is expected only to keep 40% of its value after three years. This can be even more if it’s ten or fifteen years old. If the car seems in good shape despite being second-hand, it can represent a massive saving compared to buying brand new. If you are buying second hand, this also means that you can:

Negotiate the Price

Car prices at a second-hand dealership aren’t necessarily fixed. It’s worth firmly trying to negotiate the price of the car down when possible. If you find that you cannot negotiate the price down successfully, it’s not worth settling for the higher price — instead, you should simply take your money and head to another dealer who is willing to offer you the car at a price you can afford. Additionally, while you may be tempted to pay in installments, do be aware that this can end up causing you more money in the long run — making it a better option to pay upfront. Just make sure to get a Buyer’s Guide on the car, something which is required by law.

Get a Good Insurance Deal

A car is not just about the upfront costs, and it’s also about the different types of ongoing costs that you need to pay. This is especially true when it comes to your car insurance. Unfortunately, many people think that just because it is a legal requirement, it isn’t something to think about properly. This couldn’t be further from the truth, as the wrong car insurance deal could leave you seriously in debt. That’s why it’s worth getting the best car insurance quote Montreal around.

Go Electric

If you truly want to save money on your car bills each month, it is worth simply going electric entirely. This is because you can charge your electric car from home, only coming out of your electricity bill as opposed to having to spend a lot of money on diesel or gas. This is definitely worth thinking about when you consider that many countries around the world, including the United Kingdom, are already mandating that all cars have to move to electric in the upcoming years. So not only will this choice be better for you in terms of caring about the environment, but it could save you a lot of money in the long run.