No one wants to spend more than they have to on a car, new or used. Therefore, it is important to shop around to make sure you are getting the best deal on the next vehicle you purchase. There are places you can go when you are looking to purchase a new or used car for less than retail price.
Discounted New Cars
It is harder to find a cheap new car than it is an inexpensive new car, but it can be done. Manufacturer dealerships are typically your only source for brand new cars, so you are somewhat limited as to where you look for discounted new car models. However, if you are willing to purchase a car that is last year's model or a less than ideal color, you may be able to get a marked down price. Dealerships have to move inventory, and some items simply don't move as well as others. It is possible that a dealership will be ready and willing to negotiate the price on a new car that has been sitting on the lot for months or even years in some cases. Combine this with a trade-in or manufacturer sale or rebate and you can get a significant chunk knocked off the price of the brand new car.
You can also save money by purchasing a demo model from a dealership. These are cars that have been driven by the staff or personnel to promote the vehicle or dealership. They are almost always brand new cars and have relatively few miles on them.
Used Cars - Auctions
You may be able to save a significant amount of money on a used car by buying it at auction. Auctions are held by private parties as well as government entities. Cars only sell for as much as people are willing to bid on them, so you may be able to get a vehicle relatively inexpensively from an auction. Check your local police auctions as well as national government auctions (see resources) for used cars. Vehicles are also auctioned daily by the Internet auction website eBay. The downside of an auction is you can often not test drive or examine the vehicle before the auction and have to risk the possibility of there being serious problems with the vehicle.
Used Cars - Rental Cars for Sale
Rental car fleets are typically replaced every couple of years, which in turn puts a large number of former rentals onto the used car market. These cars are not normally more than a couple years old and the rental agencies do perform regular routine maintenance on these vehicles - which can make them a good deal for used car buyers. Some are even still covered by factory warranties. The downside is that these cars may have been driven roughly and many have high mileage.
Used Cars - Private Party Sales
One of the least expensive and most efficient ways to get a good deal on a used car is to buy it from a private party seller. This means that you are buying the car directly from its current owner. In most cases you can test drive these cars and take them to your own mechanic for examination and estimated cost of any repairs. Private party sellers typically ask the least amount of money for cars and are normally willing to negotiate on prices as well. If you can find someone who is in a hurry to sell their car and needs the money, you may be able to walk away with a well-maintained used car for a couple thousand dollars.
Used Cars - Junkyards, Wrecks and Rebuilt Salvage
Vehicles are declared totalled for a variety of reasons, including accident damage, storm damage, flooding and theft. Some of these vehicles are repairable and there are industries that focus on using and repairing these vehicles. You can find extremely inexpensive vehicles for sale with salvage titles or that have been involved in an accident. If you are prepared to repair the vehicle, you may be able to get a good deal. This is especially true for older model vehicles or those with mostly cosmetic damages. However, a vehicle that has a salvage or rebuilt title may be difficult to insure.
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