For several years in a row, a difficult situation has remained in the automobile market: prices are either rising or falling slightly, but remain consistently high. Specialists from the portal Vyberu.ru told us how profitable it is to buy a new car at a car dealership.
How to save on a car loan
Car loans are a common method purchasing a car. It allows you to buy a car without large initial savings and get a loan at a minimal interest rate. Another advantage is that when applying for a loan at a car dealership, customers are offered good discounts.
Salons provide such conditions because for each issued loan they receive a large commission, which covers the discounts for customers. Plus, there is a percentage for issuing comprehensive insurance, which is mandatory when purchasing a car on a car loan.
For buyers of comprehensive insurance, this is an additional expense that cannot be avoided when applying for a car loan. This cost item reduces the benefits of using the loan program.
In order not to apply for comprehensive insurance, you can take out a consumer loan and purchase a new car. However, in this case it is worth considering that the interest rate will be higher. Therefore, you need to consider what is more profitable:
- take out a car loan and pay comprehensive insurance;
- take out a consumer loan and pay higher interest.
There is a third option, which is suitable for those who have the amount needed for the purchase. In this case, you can purchase a car on credit, taking advantage of discounts and advantages, and then pay off the loan ahead of schedule. According to Russian law, the borrower has a thirty-day “cooling off period” during which he can cancel the loan by paying interest for the actual days of use. You can also write a refusal for comprehensive insurance.
This option will allow you to save money, but is associated with additional time costs, paperwork for return, and threatens a decrease in your credit rating (for refusing a loan). In addition, the buyer will have to save money to make the purchase. And in conditions of constantly rising prices, this may not be profitable.
However, for those who want to save money to buy a car and not use loans, banks offer special car deposits with high interest rates for individuals. The words “high interest” are here for a reason — the bank actually charges increased interest to the depositor if he uses the funds placed on deposit to purchase a car from partners of the financial institution.
How to save money at a car dealership< p>In addition to saving on credit, there are other ways for buyers of new cars to buy a car at a car dealership at a profit:
- Come to the salon at the end of the year/quarter/month. It's time to sum up the sales results. If the plan is not fulfilled, managers are ready to make any concessions just to sell the car and earn bonuses.
- Contact several showrooms. There is competition between them, so do not rush to agree to the conditions of the first center. Contact another salon and tell them what discounts the first seller offered you. You will see that here you will be given more.
- Don't be persuaded. Before going to a car dealership, decide in what configuration and price category you need a car. The manager’s task is to sell more and at a higher price. Therefore, do not deviate from your plans and do not succumb to the persuasion of salespeople.
- Do not purchase additional equipment. Extras are another income channel for auto centers and their employees. The same equipment with a simple service will cost 2-3 times less. If the seller continues to insist, go to another dealership.
- Take your old car in for a trade-in. Car dealerships offer customers discounts on new cars when they trade in an old car. At the auto center, the car will be accepted at a price slightly lower than the market price, but this is compensated by the price of a new car.
Purchasing a new car is associated with serious costs. Don’t make them even larger and take advantage of all the opportunities to make the purchase profitable!
Advertising. LLC «VYBERU.RU MARKETPLACE» erid LdtCKSAws