Let’s face it, cars are expensive. Today’s car loan can cost more than you’re parents’ first mortgage. The reality is, that it’s not only the price of the car, but also the gas, insurance, maintenance, car washes, and more that really add up. For most of us, there are also considerable costs associated with the auto loan. I love having a nice car, but with the economy as it is, every expense is worth checking out.

How to save money on your next auto loan using my strategies:

1. Improve your credit. Nothing has more impact on the terms of your loan than your credit score: the better your score, the lower the interest rate. If your credit history is sketchy, it’s going to cost you. So if you have credit problems, put off buying that new car until you’ve done some work on your credit.
2. Avoid small loans. In many cases, interest rates tend to be higher on small loans. If the car costs less than $5,000, then it’s best to simply save up ahead of time and pay cash for the car. That doesn’t mean that you should get a Porsche because the loan is cheaper and if you’re desperate for a vehicle, this may not be an option, but, throwing away money is never a good option.
3. You can refinance an automobile at a lower interest rate if interest rates have fallen since you bought the car. This especially makes sense if you’ve also been able to improve your credit since you obtained your loan. You could easily save $100 per month by refinancing. Zippy’s friend Shana does this with almost all of her car loans and it has saved her $$$$.

• With the subsequent reduced payment schedule, you can apply the extra you’re saving toward other investments or you can pay off your car sooner.

4. Shop around for financing. It might be easiest to get your financing at the dealership, but it’s rarely the best place. Finding a better financing offer means extra money that could be in your pocket instead of the dealer’s. Check with your bank or credit union, as well as online.

• Check out what the dealer has to offer, but get some other financing quotes and see what makes the most sense.

5. Consider leasing. While leasing is usually considered to be more expensive in the end than purchasing, it can make sense if you never own a car long enough to get it paid off. I lease because my payments are so much lower, and then will finance the remainder of the car at the end of the lease so that I own it.

• Your monthly payment will likely be less and the taxes are less, since you usually only pay tax on your payments, not on the value of the car.

6. Find a less expensive vehicle. Cars today are almost universally quite reliable. There’s almost no practical difference between a $10,000 car and a $100,000 car, both will get you where you need to go. All the extra cost has little to do with how reliably or safely the car will get you from point A to point B.

• Consider purchasing a slightly used automobile to really save some money. If you can find a car that’s almost new with low mileage, you get all the advantages of a new car, including the warranty, without the new car cost. We used to exclusively buy certified used cars from the dealership so that we got a great warranty along with a good price.

There are several ways to save money on your next auto loan. If you have the luxury of time on your side, fix any credit challenges you may have and shop around for the best financing terms. Where there’s a will, there’s a way. Do what you can to keep as much of your money as possible.

Before I retired I was a car guy. While most of my time in the automobile business was spent as a buyer, going to auctions, and buying the cars that you see in the used car lots, I did spend some time on the retail end of the business. Yes, I was the guy you feared coming to see because you were SURE I was going to rip you off. I understand. It’s happened before. You needed a new car so you went looking for your best deal. But somehow, you ended up leaving the dealership in a car that wasn’t your top choice or you paid way too much for it. “What just happened?” you wondered as you drove away.

Wouldn’t you love to pay what you want for the vehicle you choose, rather than the high-priced car the dealer wants to get rid of?

Follow my tips to help ensure a better experience the next time you walk onto that car lot

1. Do your homework. Think about cars you’re interested in before you go shopping. Jot down makes and models you like. Note specific features you want. Knowing what you want will keep you focused on getting the RIGHT deal on the RIGHT CAR.

• Look at car manufacturer’s websites. Notice the features, specifically those that matter to you. Make notes. Eliminate cars that don’t fit your criteria. Keep notes WITH you about why you’re rejecting those cars. Later, you can look back on your notes, if necessary.

2. Familiarize yourself with the top 2-3 cars you want. Watch for them on the roads. Do you like how they look? Ask friends and neighbors who have a car you’re interested in if you can look at the dashboard and interior space. I like to go to the dealership when they are CLOSED and peek into the cars so that I have an idea about the interior that I like as well.
3. Check the Edmunds.com website. This website tells you what the car should reasonably cost you. You can select the interior and exterior colors and any extra options you want for pricing.

• Learn what car manufacturers are offering for cash incentives or buyer’s rebates on the cars you like. This info can also be found at the Edmunds website. Completing this step will arm you with expert knowledge about what the car should cost and help you with the negotiation as you can use it as a tool when dickering over the price.
• If a car dealer tells you the Edmunds figure isn’t accurate, move on. He’s most likely trying to rip you off.

4. NEVER, EVER, EVER pay the sticker price. Car salesmen will try very hard to get you to pay that price. However, you can negotiate to pay less. If you already did your research, you’ll know what to offer. Don’t pay a penny more. If you have a car to trade in, it may be a lot easier to negotiate the amount that they give you for YOUR car to get the final price where you want it.
5. Consider shopping from home. If you’ve been held captive at a car dealership for 3+ hours being pressured, cajoled, and manipulated, you’ll appreciate this suggestion. Examine internet sites like Cars.com or AutoNationDirect.com.

• If you prefer, go to the manufacturer’s website and request a price on a particular vehicle. A salesman will respond back by e-mail. Then, negotiate back and forth by e-mail or phone to obtain the car, features, and pricing you seek.
• Determine if they have the exact car in your desired color with your preferred options on the lot. This point is important because salesmen will try to get you in to test-drive any vehicle in hopes they can give you the hard-sell routine.
• These days you can save a lot of time and frustration by shopping from home.

6. Never get financing through the dealership. Dealerships advertise low percentage rates then pump up “miscellaneous” fees in excess of a reasonable percentage amount. Therefore, get your car loan through your bank or credit union. There is ONE exception to this rule….when a dealership offers 0% financing GRAB it.

• Seek a pre-approved loan before shopping. That way, you’ll know how much you’ll pay monthly based on the figure you were pre-approved to borrow and you’ll have that extra power in the negotiating. Dealerships make a BIG PERCENTAGE of their money on auto loans!

7. Remember you can walk away or say, “No.” Avoid falling into the trap of doing everything the salesman says. After all, you’re the customer and he’s there to fulfill your needs, not the other way around. We always walk away during the negotiation and laughingly count the seconds before the salesman runs after us (or how long it is before he calls us at home with a better offer).
8. Find out your state’s policy on returning new cars. Car dealerships will tell you that once you sign the papers and drive the car off the lot, you can’t return it. However, many states have a “buyers’ remorse” clause, which allows you a period of time, like 3 days, to return a vehicle you don’t want. Take time to read the fine print on whatever documents you sign.

• The best way to avoid buyers’ remorse is to shop within your budget and avoid saying, “yes” to just any car or deal. Wait for the deal you want.

By following these strategies, you can avoid getting ripped off the next time you shop for a new car.

• I like to drive.
• I would much rather drive than fly.
• I am much less afraid to drive than to fly.

With that in mind, it’s not much of a choice but to pack up my new Subaru Outback and head from Fort Pierce, Florida to North Conway, New Hampshire. This is a journey of approximately 3,000 miles round trip. The perfect trip for me and my Outback to get to know each other a little better.

This Outback may have saved my life!

It’s not long before

The pre-collision system proves its worth.

Here’s what happened

I started out to beat the traffic by leaving at 4:30 am. It’s pitch black outside and I a in the far left-hand lane on Route 95 North with the cruise control set at 67 mph. All of a sudden I feel the cruise control snap off and the car breaks HARD. I thought there was something wrong with the car. As I stared into the darkness, I realized that there was nothing wrong with the Outback, but that the tow truck in front of me had NO LIGHTS ON and I couldn’t see it. I don’t know if the Subaru saved my life, but it at least saved one heck of an argument with the tow truck driver.

I like to drive

To me, it does not get much better than having my Sirius XM radio churning out the music of the ’60s, ’70s, Beatles, Tom Petty, Classic Vinyl, ESPN, MSBC…the soundtrack of my life at 75 mph.

If I didn’t drive, I’d never know that there is a Horse Stomp, South Carolina, home to the Little Pee Dee River and its big brother, Greater Pee Dee. How would you know that Pedro at South of the Border has all new signs (a breath of fresh air compared to years past).

How would you know that you can stop at Peach World in Georgia or appreciate the same billboards that advertize pecan rolls, pecan pie, pecan candy and peanut brittle? Can you go wrong making a pit stop to see live baby alligators?

Forget McDonald’s. You can go to one back home, it’s  Stuckey’s , Shoneys, andthe Waffle House that make up the dining destinations on the road.

The GW Bridge – New York

The quality of the highway differs from state to state

The roads can go from just okay to okay depending upon the route, road, and state. By far, the best (and most improved after years of doing this trip is The New Jersey Turnpike. Three crisp lanes, crisp white lines, and smooth pavement make driving much more of a pleasure.

The worst and not even CLOSE has to be the George Washington Bridge. Sixteen dollars worth of shaking your dental work and jarring of your bones. I felt terrible putting my little Outback through this torture. Couple that with perhaps the worst, life-threatening drivers you could ever encounter. I am always shocked when I make it through New York without having an accident.

But, all of that is worth it when you turn the corner onto the Spalding Turnpike in New Hampshire and come face to face with the White Mountains as your guide. It feels like a total decompression.

I’ve been coming to New Hampshire or the better part of 50 years…mostly to North Conway…mostly in the winter to ski. But it’s just as beautiful in the summer as it is seeing those white-capped mountains with a chill in the air.

Yes, I like to drive

Most people (like my wife) think I’m crazy, but what I’m going to do is pack my car, place my coffee in the cup holder, set my radio to my favorite tunes, place the key in the ignition and head home.

P.S. In fifty years I have skied at Mt. Cranmore, Attitash, Wildcat, and Loon Mountain, but the best of the best has always been Bretton Woods with its friendly staff, beautiful and friendly lodge, and friendly and forgiving trails. The BEST!

P.P.S. I could tell about all of the different places that I have stayed in North Conway, but after all of these years, there is only ONE that I go back to time after time because it is simply beautiful. Tucked in the woods and overlooking Mount Washington with the BEST food in the area you’ll find the Stonehurst Manor (and yes, it’s dog friendly as well). If you go, tell Heidi I said hello and give Samantha the Rottie a pat on the head for me.

What is it?

The Subaru Outback…let me answer the question right off the bat. It is a crossover station wagon based on the iconic Subaru Legacy. It’s a wagon with SUV capabilities that rides like a luxury car. The fact that it is all-wheel drive just adds to the confusion. All I know is, I have one and I LOVE IT.

The only knock on the car is that it’s sluggish off the line. While it’s no speed demon, I find it more than adequate.  How fast do you need to go in a wagon-crossover-SUV anyway?

With 8.7 inch ground clearance, it’s a breeze to get in and out of. I’m 6’1″ and it is a pleasure not to have to do a squat thrust just to exit the car. At 5 foot tall, Zippy finds getting in and out just as easy as I do.

The Outback is a car that is equally comfortable to drive around town or on the highway. The smooth suspension irons out the roads imperfections and the engine is quiet, unline my wife’s compact Buick Encore that sounds like an egg beater with very little power.

The cabin is roomy and comfortable with plenty of legroom in both the front and back. An 8″ touchscreen Starlink Multimedia System offers Apple Car Play as well as Android Auto Integration and Sirius/XM.

Then there is the safety factor that Subaru is known for. Pre-collision braking, lane departure warning, and active cruise control are just starters.

NOTE: When I picked the new car up at the dealer I noticed an issue with the way it ran on the way home. Since the dealer where I purchased the car was almost 2 hours away, I brought it to nearby Dyer Subaru in Vero Beach, FL. Even though it turned out to be a difficult problem to diagnose and fix (it took them 3½ weeks to get it right), I was provided a top of the line, fully loaded loaner for the entire time at no charge.

To sum up, the Outback is comfortable, stylish, great on gas and worry-free. I am 67 years old and this may be the best car that I’ve had yet.