There are many purchases
that become essential when it comes to having children. It’s
amazing how the shopping list expands, and things you hadn’t even
considered suddenly enter the fray. But one of the most significant
purchases you can make as a young family is that of a new car. It is such a big part of family life that commonly we even take our car with us when we relocate. Thankfully if you need to move vehicles to go with your new life there are companies who move cars worry free, for more information click here. When it comes to buying a car, finding something that’s spacious, reliable, economical and, above
all, good value for money is no easy thing, particularly when you
consider the wider picture.
After all, it isn’t
just about the cost price of the car. Running costs, insurance,
servicing and depreciation are significant factors, and will use up a
considerable amount of your budget. So the key is to get it just
right. Many have a preference for buying new cars, with the
guarantees and warranties that come with them firmly in mind. Yet
while that is understandable, there is still good value to be had in
the used-car market too.Whichever route you decide to go down, it’s
vital to cover your bases, thus ensuring that the car you eventually
choose is the right one for you. Here are some tips to help you get
there.
1. Look at the
one-year market
The downside to buying
new cars, quite simply, is this: they plummet in value as soon as you
drive them away for the first time. In fact, new cars lose up to 40 per cent of their value over the first 12 months. Certain brands hold
their value better than others, but the bottom line is that you are
dramatically slashing your upfront costs if you look within this
particular niche – and should still be able to find something in
great condition.
2. Pick your moment
Like every sales person,
car dealers have targets to meet, and these are usually ascertained
on a quarterly basis. That means that if you look to buy a car at the
end of March, June, September of December, you’ll likely be
catching dealers at a time when they are more eager to shift the cars
they have on offer, and, as a result, be more flexible on price. Use
this to your advantage, and haggle them down as much as you can.
3. Savvy financing
There are a number of
ways to finance a car, including lease, hire purchase or personal
contract. Yet often for the sake of convenience, buyers are content
with simply buying on the finance deal offered by the dealer; or
worse still, lump the cost of it onto their credit card. These
effectively amount to a personal loan, but with high interest rates.
Considering low-cost alternatives from outside loan providers often
makes much more sense, and means you’ll end up paying a lot less in
the long run.
4. Don’t blindly
part exchange
Again, for the sake of
convenience, a car buyer’s default position can often be to simply
part-exchange their old car, rather than considering alternatives.
Selling a car privately will almost always net you more money. True,
it does require a bit more work on your part, but that’s where
sites like Autotrader, and even Gumtree come in. A little bit more
effort today should mean more pennies in your pocket tomorrow.
5. Play the game
Not everyone enjoys
haggling, although some do. Either way, going to a number of
different dealerships, and then playing them off against each other
on like-for-like (or similar) vehicles is a sure-fire way to bargain
them down. In a competitive business such as car sales, they’ll
likely be more inclined to knock a bit off the price tag, rather than
lose your business.
6. Run through the
checklist
You will be drawn to
certain cars more than others – perhaps because of style, body, or
even just a shiny exterior. But always run through a checklist to
ensure that your vehicle in waiting ticks all the right boxes. This
checklist should include things like the car documents, quality of overall
condition, repairs, engine, radio, lights, tyres, oil, mileage, and,
above all, how safe the car is. Get an expert to come along with you
if need be, but you should really get as much reassurance as you can
on all these factors before shaking on a deal and signing on the dotted line.
7. Use your credit
card – wisely!
While
using a credit card as a sole means of finance is ill-advised given
the high cost of repayments, you shouldn’t shun this piece of
plastic entirely from the process. In fact, if you finance so much as
a penny toward the cost of your car on credit card (provided the car
costs between £100 - £30,000), it will afford you the protection of
Section 75. This is a powerful safety net which effectively means
that the credit card company – along with the dealer – become
liable if things go wrong. As a result, it’s something you’ll
want to make the most of in order gain even more peace of mind.
Do you prefer to buy new or second hand cars?
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