How to buy a car without money?

How to buy a car? Having your own car is the dream of many Mexicans. However, when they look at their wallet they realize that the numbers are not favorable and that they are a long way from being able to pay for a car with cash. If you have wondered how to buy a car without money or how to get a car without money; Here we will solve all your doubts.

I need a car and I have no money

When I need a car, there are many people who turn to a car loan and buy a car without having to wait many more years to collect all the money.

First, we must consider how much money we have available. It is not necessary to have the entire price of the car, but an amount that covers part of the down payment is necessary.

Banks usually ask for a minimum of 10%, but if we have the possibility of saving a little more, it would be advisable to grant between 20% and 30%; This allows us to finance the car in a term of fewer than 5 years.

How to get a car without money?

Another option to learn how to buy a car without money, and thus be able to avoid paying the down payment, is through self-financing. This marketing system, where a certain amount is contributed monthly to trust, is a good option to acquire a car in installments without resorting to a loan.

How can I get money to buy a car?

Getting money to buy a car without the credit is not an impossible mission. With strategy and discipline, you will be able to obtain liquidity to buy the dream car. Here is a list of things you could do: how to buy a car with no money.

  • Start preparing a savings plan for that car you want.
  • An automotive loan may be the option to finance your car.
  • Resorting to a personal loan can also be an option to pay for the car.

How much should I save to buy a car?

Determining how much you need to save for a car will depend on the car you want to buy and your income. Learn about a key tool to know how much the car you want to buy should cost and thus start saving: the 20 / 4 / 10 rule

  • Pay at least 20% of the car.
  • Avoid financing the vehicle for more than 4 years.
  • You should not spend more than 10% of your gross income.

What is the best time to buy a car? 

If you have already chosen the car you want to buy, know the best time to buy a car in Mexico :

Through the government assistance for cars, which in alliance with manufacturers and dealers, offers promotions and discounts on some vehicles.  When the season closes and a car changes version, the previous ones usually go down in price. The savings can be significant. The last option is the end of the month since the concessionaires must meet monthly goals, so they are willing to offer discounts.

Having the car of your dreams is not impossible, access a car loan or a personal loan and get the best offers through our comparator.

What happens if I buy a car for cash?

Many of the drivers who recently purchased a car did so by paying cash. The reasons for doing so are many and range from the fact that they had the money and wanted to avoid unnecessary debt, to the fact that they do not trust the banks. However, according to financial experts, this would not be an entirely advisable idea.

The car is an asset that depreciates rapidly, so much so that from the moment it leaves the dealership it already loses 30% of its value. What the experts advise is to take the money that you would use to pay for that car and invest it in something that will give you a higher return, so that after a certain period of time you will have both the car and the money you have earned.

How to buy cars in cash from agencies?

Buying cars in cash from agencies have a much faster process than other modalities, since when paying for the car, in a couple of hours the car is completely yours. In addition, since the payment is made in cash, there is no additional financial obligation or debt.

Advantages of buying a car in cash 

  • It gives you the possibility of not accumulating debts.
  • You save on paperwork and monthly payments.
  • You do not pay interest that is generated when requesting a loan.
  • You will have your car in a few hours.

Disadvantages of buying a car in cash

  • You make a large outlay of money.
  • You will have to assume other expenses such as insurance or the purchase of an accessory.

The final recommendation is that you think very well if you are going to buy a car in cash. To achieve this, it is necessary that you first compare the different interest rates, since the idea is to choose the lowest possible. But, if you are interested in a car loan, go to our comparator and choose the plan that suits you best.

How to negotiate with a car dealer?

When buying a car, it is important to know how to negotiate with a car dealer or auto dealer. Ideally, when you leave the dealership, you do not leave with the car that the dealer managed to make you buy, but with a deal that was really worth it. Here we will tell you how to negotiate a car.

Related: Before You Go Buy A Head Light Lamp

How to haggle over the price of a car?

If you are looking to make a good purchase, do not hesitate to haggle over the price of a car, so you will get a discount that fits your budget. To do this, you must be clear about these points that will define whether the negotiation,
car salesmen, will be successful or will be a failure: how to bargain with a car salesman. Follow these steps:

Be informed

You must be clear about what car you want and inform yourself about its characteristics, this way you will avoid being shown an infinity of models and you will save time, and you will also give the impression of being prepared.

Visit other dealers

To let them know that the search is serious and that you have already received tempting offers, but that you are still willing to give them a try. This strategy will make the seller give you a better price.

Show your desire to buy

A potential customer is one who is not only “seeing”, but who really wants to buy. These are the ones worth the sellers’ effort, so if you let him know you want to get out of there with a new car, he’ll go out of his way to give you an offer you can’t refuse.

How to lower the price of a used car?

To lower the price of a used car you must be well informed of all aspects of the car you are going to buy. It is important that you know its value in the market and its characteristics, with that information you will be able to launch a figure based on your research. How to negotiate the price of a used car? Specialists suggest that you set your maximum price before negotiating because you could end up paying more than you had.

What is the best month to buy a car in Mexico? 

The best month to buy a car in Mexico, according to the AMIA (Mexican Association of the Automotive Industry) is from September to December because it is during these dates that agencies receive new models, therefore older models receive discounts.

How much do I need to earn to get an agency car?

To get a car in an agency there is no exact amount that you must earn, everything will depend on the car you have decided to buy because outside of the price of the vehicle you must consider expenses such as insurance, gasoline, and services. The most common is to allocate 20% of your salary for transportation payments, considering that percentage you can define the average price of the car you want.

Remember that comparator gives you the possibility to choose many vehicle loan offers, depending on your income level.

Back to top button