How to Get the Best Deal on Cars for Sale Near Me
If you google “cars for sale near me,” you’ll find hundreds if not thousands of local options. But how can you get the best deal on the right car for you? Whether you’re looking for a small luxury car or a family sedan, we can help you find the perfect vehicle at a great price at Peters Auto Mall. Here are eight tips you can use to ensure that you get the best deal on whatever car you choose.
Know What You Want
You’ll get the best deal if you drive away loving your car. If you buy a car for $1 but end up hating it, you didn’t get a very good deal. Right now, you may not know exactly what you want, and that’s okay. You don’t need to go into car shopping with an exact make or model in mind. You simply need to have a wish list.
Start by thinking about your current car. Make a list of things you love and hate about the car. No detail is too small. Then, think about other cars you’ve recently experienced and do the same. Did you love the back-up camera on that recent rental? Are you still dreaming about the heated seats during your most recent Uber ride? Are you jealous of your coworker’s great fuel economy?
When you’re done making a wish list, consider how important each item really is. Maybe you love leather seats and aren’t willing to compromise, but you can take or leave the keyless entry. Or vice versa! Every driver is different.
Remember to consider your current lifestyle and your lifestyle over the next few years. If you plan to move to a large metro area, you might want a smaller car that is easier to park. If you’ll soon be starting a family, a four-door car might make more sense than a two-door. It’s impossible to know everything the future holds, but it’s prudent to consider how your life will evolve as you own the car.
Set Your Budget Before You Shop
It’s very easy to shop for cars that are out of your price range if you don’t start with a budget. When setting a budget, consider the following:
- The amount of cash you have for your down payment
- If you want to trade in your current vehicle
- Your income
- Your credit history
- The amount you feel comfortable paying every month
You can click the button at the top right of any page on the Peters Auto Mall website to get pre-approved, so you have a basic idea of the type of loan you can get. It’s important to feel comfortable with the monthly payment amount. If you have a large down payment or are trading in your current vehicle. you may be able to set your budget higher than your pre-approval amount.
What’s most important is that you know the numbers before you test drive anything. To get the best deal on a used car, you have to shop within your price range. Too many people start shopping not thinking about what they can afford. If you buy a car that ends up being over budget, you could find yourself in a stressful situation. It can start to feel like you got a bad deal. We want you to be completely happy with your purchase, and that includes feeling financially secure.
Shop for Pre-Owned Cars Instead of New Cars
As you search for cars for sale near me, you’ll find both new and pre-owned cars. Although there are advantages in both cases, you’ll usually find the best deal if you shop for a pre-owned vehicle. There are many benefits to shopping for a used car. Most prominently, new cars depreciate almost immediately after you drive them off the lot. You’re paying for the privilege of being the first buyer. We often sell vehicles at a staggeringly low price even though they are less than two years old. In many cases, these cars also have less than 30,000 miles on them and were well-maintained. Because they aren’t very old, the manufacturer’s warranty may still cover the vehicle. With very few exceptions, your money goes much further at a used car lot.
When you buy used, you also get more variety. Buying a new car means you have a limited number of choices. At a used car lot such as Peters Auto Mall, you’ll find dozens of options in your price range. With more variety, there’s a better chance you’ll find a car you love.
Plus, since these cars are at least one model year old, you know what to expect. Every model year comes with its own quirks. Sometimes, certain model years even have mechanical issues. When you buy used, you can research what experts are saying about certain model years. On the other hand, with a brand-new car, you might not find much information beyond what the manufacturer has to say.
Another major advantage is the options you may get with your pre-owned car! When you purchase a new car, those extras like heated seats or backup cameras come at a big price. But, the same car, with the luxury options, is sold to the next owner without any extra charge for the options. This means that you may get many features on a pre-owned car that you couldn’t afford if you purchased them on a new car.
Dealerships also often can’t provide financing options to anyone but those with spotless credit. If you have even a few derogatory marks in your past, lenders will deny your credit application. Here at Peters Auto Mall, we work with a larger variety of lenders. In many cases, we can help you get approved even if you are currently working to rebuild your credit.
Work on your Credit
Speaking of your credit, if you work on your credit score before you start shopping, you can get a better deal. Many people think about the price of the car as simply the sticker price. Unless you can pay for the entire amount, though, you are missing one important cost: interest. Any auto loan you get will have an interest rate attached, which is the fee banks charge you to borrow money.
The lower your credit score, the more you’ll pay in interest. When you have a lower credit score, it indicates to lenders that you are a risk. The risk in this case is that you won’t pay back the loan and the lender will be stuck with the bill. Even if you have been working hard at being financially responsible, derogatory marks on your credit can follow you for seven years (or even longer in some cases).
A low credit score isn’t the end of the world, though. In fact, you may be able to repair it more easily than you think. Of course, your first task should be paying any overdue bills. Sometimes, lenders will settle with you for a lower amount. You can also consolidate your debt if you have several credit cards and loans, which might help you get back on track financially.
Unbelievably, you may even have errors on your credit history that are bringing down your score. Lenders can enter information incorrectly. It happens all the time. You might not realize that these small mistakes can lead to huge financial repercussions.
A financial expert can help you get back on track if you are unsure how to fix your credit. This article from Inc is a great place to start. Once your credit score is higher, you’ll get a better rate on auto loans. This can save you thousands of dollars over the course of repaying the loan.
These are general suggestions. The financing team at Peters will work with you no matter your credit score. We want you to have the car you want, when you want or need it.
Know and Trust the Sales Team
Have you ever felt completely attacked by a salesperson when shopping for a car? It’s hard to get a good deal if you feel pressured to buy. That’s why we keep our car lots low-pressure. Our team is available when you have questions and is happy to show you options. However, we never want you to feel stressed when shopping. We always hope to provide the best car shopping experience possible.
Part of the reason you can trust our team is that we adhere to high standards. Every car for sale near me at Peters Auto Mall must pass a 125-point inspection. Before we sell it to you, we make sure it is reliable. We know we can’t provide top-notch customer service if our cars are a mystery. So, our service department checks every detail of a car before it’s available on our lot.
Look for a Car that Retains Value
When looking for the best car deal, think long-term. Eventually, you’ll want to sell or trade in this car for another one. When that time comes, you want to get the best price possible. So, it makes sense to look for a car that holds its value well.
As we noted previously, a car depreciates quickly as soon as someone buys it. The first buyer will always take the biggest depreciation hit. That doesn’t mean the car stops depreciating, though. Unless you buy a classic or luxury car as an investment, your car will depreciate over time. Some cars simply depreciate more slowly due to being extremely reliable and being in demand from buyers.
The 2019 Edmunds Awards for standard cars that retained their value are as follows:
- Subaru Impreza
- Honda Accord
- Dodge Charger
- Subaru WRX
Some luxury cars that also won awards include the Mercedes-Benz CLA-Class, Lexus ES 350, Audi A7, and Porsche 911.
These are not the only cars that hold their value well. Our team can help you find a vehicle that meets your needs and also holds its value.
Expand Your Search Beyond Cars
Cars are a popular option, but have you considered SUVs for sale? What about trucks for sale? Sometimes, a car is the best deal. However, the prices of our other vehicles may surprise you!
We sometimes hear people say that they don’t want an SUV or truck because they are too big. That might be true for you. Before you make up your mind, though, take an SUV or truck for a test drive. If you’ve never driven anything larger than a car, you might be surprised. Keep in mind that we have both trucks and SUVs for sale that are on the smaller side.
At the end of the day, a truck or SUV might not be right for you. It’s just something to consider carefully before you completely cross them off the list.
Shop at the Right Time of the Year
Vehicle prices spike during certain times of year. If you want the best deal on your next vehicle, time your shopping correctly.
In a broader sense, you’ll find cheap cars that are still high quality during certain months. In general, pre-owned cars, trucks, and SUVs are more readily available when the newest model year hits dealerships, typically in the fall. You’ll also see an influx of used cars available during December when dealerships have large new car sales for the holidays. Because people are buying so many new cars during these months, used car dealers like Peters Auto Mall can make you a great deal on a pre-owned vehicle.
But what should you do if it is May and you need a vehicle now? You can’t always wait months until fall or the holidays roll around.
In these cases, time your shopping experience during certain days of the week. If you can avoid shopping on the weekend, you might find a better deal. During the weekend, more people are shopping for vehicles. The traffic slows during Monday, Tuesday, and Wednesday. Our sales team always does their best to provide top-notch customer service every day of the week. However, we may be able to give you more personal attention at the beginning of the week rather than on weekends.
One way to circumvent this issue is to schedule your test drive. We love to help walk-in customers, but you might need to wait for an available team member. If you schedule a test drive on a car you love, we’ll know you’re coming and have someone ready to help you. To schedule a test drive, search our vehicle inventory. When you find a car you love, simply click the button to make an appointment. We hope to see you soon!
We now have 3 locations to better serve the Piedmont Triad area. We have 2 locations in High Point and one in Greensboro. Addresses are on our website. Feel free to call us at 336-434-1600 with any questions.