Tips for Car Shopping on a Budget

It would be nice to be able to spend a ton of money on a beautiful, fancy car, but for many of us, that is not our reality. Many of us have to do our car shopping on a budget. If you need some help car shopping on a budget, check out some of our tips below.

• Think About What You Really Need – The first step to car shopping on a budget is to think about what you really need. There are a lot of things that we want with a new vehicle, but you should focus on what you really need. Do you need good gas mileage for driving to work? Do you need passenger space for your kids? What are the things you really need out of your next vehicle? Make a list of those things and stick to those and don’t worry about extra stuff for right now.
• Don’t Be Afraid to Shop Pre-Owned or CPO – If you are on a budget, you also might want to consider buying pre-owned instead of new. A new car costs more and its value depreciates quickly in the first few years. Even if you buy a newer pre-owned vehicle, you could save yourself some money and still get a quality car. Also, CPO or certified pre-owned vehicles have gone through extensive checks to make sure they are in great shape for you.
• Set a Budget and Keep It – If you are worried about overspending on a vehicle, set a budget, and stick to it. Figure out what you can actually afford and do not go above your budget. Shop below your budget if possible.
• Do Your Research – Also, when you are buying your next car, do your research. Research different models and how affordable they are. Look into different the reliability of vehicles and compare and contrast your options. Doing research can help you save money in the long run because you could buy a better vehicle.
• Save Up for a Down Payment – If you want to lower your monthly car payments so that they fit better in your budget, you could save up for a down payment for your next car. If you can wait to buy for a few months, try to save up a larger down payment so that your monthly payments can be smaller.

At Smith Chevy Lowell, we have a wide selection of new and used vehicles. If you are shopping on a budget, we can help. Our finance department can talk with you about your budget and find you some models that fit with your needs. We can also offer you competitive financing that works with your needs. Interested in learning more? Reach out to us today, or fill out a finance application online.

If you are looking for a new car on a budget, you can check out an affordable option like the Chevy Malibu. We also have trucks and SUVs for sale if you are looking for something with more cargo space. At Smith Chevy Lowell, we also have a great selection of pre-owned and certified pre-owned vehicles for sale. You can check out our inventory online, or stop in to see us today. We look forward to helping you out.