How to Save Money When Buying a Car


When buying a car, nothing is more important than being a smart buyer. After all, this is often a sizable investment, even if you are purchasing a used vehicle. Most people today purchase vehicles using credit. Car loans are common and usually readily available. However, if you just take any loan you find, you’ll end up spending far too much money and you’ll struggle to pay it off. There are simple and effective ways to keep the prices low and still drive off the lot with the type of car you really want to own.

Research Before You Buy

The first step to saving money when you buy a car is to do your research first. The more information you gather about the options available to you, the more likely you are to save money. First, consider the vehicle you plan to buy itself.

New or Used?

Do you want to buy new or used? Buying used will save you a significant amount of money even if you buy a newer vehicle. However, it also comes with the risk of not having a warranty and not knowing what could be wrong with it. If you buy used, remember the following:

- Have your mechanic look at the vehicle before you buy to ensure it is a good investment even if the dealership is one you trust.

- Buy a newer used vehicle so it lasts you longer than the loan you get on it. In other words, make sure this investment is going to last for several years.

- Buy a vehicle only after checking the history of it, using serial number checks you can find online. This helps you to know more about the vehicle before you decide to buy.
If you buy new keep the following in mind:

- Don’t assume every dealer is the same. Some may offer special discounts and promotions that will significantly reduce the cost of the purchase.

- Be sure the warranty you get is one that is long enough to cover the vehicle for several years, if not longer. It is often worth buying a longer warranty if it covers systems in the vehicle that commonly break down after five years.

Take the time to compare numerous vehicles. Even slight differences such as in trim packages, can make a significant difference in the price you’ll pay. If you don’t need that spoiler, it is going to save you money not to get it.

Ultimately, deciding to buy new or used it up to you and your plans to hold onto the car for years to come or to sell in sooner. The key is to find a vehicle that’s right for your needs and one you’ll likely maintain.

How to Get a Cheap Car Loan

If you want to save the most money possible on the purchase of a car, don’t use a loan at all. Rather, invest in the vehicle by paying cash. That way, you do not have to worry about paying interest and you may be able to get a lower price point. For most people, using an actual loan is the route to take. If that’s the case, consider the following tips to get the lowest possible price on a loan.

- Shop around. The single most valuable way to save money is simply to compare the options from several providers instead of just one. Realize you don’t have to use just the dealership’s financing, even though this is something that many of them want you to do. talk to local lenders, too.

- Have a good credit score. The higher your credit score is, the less you will pay in interest on the loan. This can amount to thousands of dollars over the lifetime of the loan. Boost your score by paying down debt and making on time payments for several months before seeking out a new loan.

- Make a down payment. This will help you in two ways. First, a down payment reduces the amount of capital you are borrowing, which means less interest will be applied to the loan. Second, lenders like to see a down payment because you are less likely to walk away from this type of loan.

- Ask for a lower interest rate. Negotiation is a key component to getting a good car loan deal. Though you may be ready to negotiate with your car dealer, you also should ask the lender to give you a better rate for the loan.

- If you have poor credit, use a co-signer to get the loan. The good news is that if you use your car loan properly, by making payments on time every month, this could work to boost your credit score. A co-signer with good credit can also be a good thing because lenders see this as a security.

Never settle for just the car dealership’s offer for a car loan. Turn to national lenders, local banks, credit unions, and even specialized lenders.

Getting the Best Deal

A few more tips to help you to save money when buying a car are listed here. Be sure to employ every one of these to save the most money.

1. Ask About Dealership Incentives

Some dealers offer a significant discount to buyers just for asking for it.

2. Be Aware of Discounts or Incentives

Find out if there are manufacturer discounts or incentives available as well. Often, this will include financing deals.

3.Buy During the Right Season

Buy at the end of the summer or fall season, right before the new lineup of vehicles comes out. This may even be mid-summer. Clearance offers are often available now.

4. Negotiate the Terms of Any Deal

Do not assume or settle for the sticker price. Most of the time, it is significantly higher than you have to pay.

5.Milk You’re Deal

Work with a dealership you trust and get every extra you can, including a full tank of gas, discounts for auto service, and other offers available.

You can save money when buying a car. You just have to ask for the best deal available.

Best Tax Software for Procrastinators

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Taxes are due in about a month. Sigh.

It’s fitting to review some of the more popular online tax programs, so you’ll know what’s available, and how to make an educated choice that best fits your needs.

The Advantages of Using Online Tax Software

1. Price

This is the biggest reason to utilize online tax programs. I already have to pay taxes. I’d like to save as much money as I can on the actual preparation of them. If you have someone to prepare your taxes, it begins at $100 to just walk in the door, and goes way up from there.

On the other hand, most online tax programs range between $10 and $100, with some online tax services filing your Federal taxes for free.

2. Speed

Once you’ve collected all of your tax related documents, sitting down and inputting everything into the online tax program is quick. Most can complete their taxes and e-file within a couple of hours. This can save you precious time.

3. Ease of Use

Great online tax software is extremely user friendly, making your preparation fast and easy to input information, complete and file.

4. Maximum Refund, Accuracy Guarantees and Audit Protection

The big online tax preparation programs like TurboTax and TaxACT offer “Maximum Refunds” and “Accuracy” guarantees, which state that they will cover any penalty on interest fees that could occur from any calculations errors. They also offer “Audit Protection” as an option, in case anything happens after filing.

Tax Software Reviews

Now that we are aware of the benefits of using online tax software, here are some of the highlights for the best programs currently available on the market.

1. TurboTax

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You’ve probably heard of or seen TurboTaxas it is one of the most popular online tax programs available. It also has a very polished and user friendly interface.

- If you’re filing just one W-2, then your Federal filing price is free, as TurboTax only charges fees for State filings

- Otherwise, Federal return filing price starts at $29.99, and combined with State returns, price for filings starts at $36.99

- TurboTax has the best support in automatic import of your W-2 and 1099 forms from payroll providers and financial institutions

- Audit support is average, in so far as you get downloadable help through the Audit Support Center, but no live help

If the majority tax return is close to last year’s return, then TurboTax will save you a lot of time, especially with the automatic import of your W-2 and 1099 forms.

Here’s where you can sign up: Turbo Tax

2. TaxACT Online

- Cheapest tax preparation overall with Federal filing starting at $9.99

- Audit support is average, in so far as you get downloadable help through the Audit Support Center, but no live help

- Even with the lower price, it is just as accurate as other online tax software

- Limited automatic import support

- Limited audit support

If you are simply looking for a cheap, but reliable online tax preparation software with no bells and whistles, then TaxACT is a good choice. If your taxes are complicated, then I’d go with another program, as TaxACT doesn’t offer a great amount of support.

Go here to sign up: TaxACT

3. H&R Block at Home Online

- Federal return filing price starts at $29.95, and combined with State returns, price for filings starts at $34.95

- Moderate import support for 1099s and W-2 (not as robust as TurboTax’s import options)

- Best free audit support, as this online software includes an H&R Block Enrolled Agent who will actually attend your audit in-person

If you’re one of those people that likes to “be sure” to sleep well at night, then H&R Block is a good option as you’ll know that you have a federally authorized enrolled agent who will help guide you through in the unlikely case that you are audited.

If you want to try out H&R Block you can sign up over here: H&R Block