So, the time has come. You’ve had your current car for a while, but now it’s time to move on. But you’re not exactly Mr or Mrs Moneybags. You need a new car, but you also need to be careful about the money you spend. Here’s a quick guide to ensuring you get a good deal for your cash!
Do your research
The world of car dealerships can be trickier than you might think. Knowing if one car is better value than another is never as easy as some people make it out to be. You might look at one car which is £1000 and another which is £5000. This might seem really clear-cut at first; you go for the first, right? But if that £1000 car turns out to be unreliable and janky, then you might end up spending more in the long run on repairs.
Want a luxury ride? Try second-hand
When people think about saving money on a new car, they usually think immediately of buying a used car. But the idea of buying a car second-hand really breaks the heart of some people! If you ask me, I’ll say that’s a shame. Sure, we’d all like a brand new ride. But sometimes it’s not practical. In fact, if you want a luxury, big-name car, then it can definitely be more practical to go second-hand. Getting a used Volkswagen, for example, means quite simply that you end up with a Volkswagen without paying an outrageous price!
Keep it properly maintained
This may sound like something that would only come into your thinking after you’ve bought a car. But if you want to look for your best option, financially, then you should be coming up with a detailed budget. And that budget needs to include the maintenance fees if you want it to be accurate. Don’t try to “save money” by ignoring maintenance checks. The cost of not maintaining your car can be extremely high. You gotta spend money to save money, here!
Look into finance options
Most car dealers will offer you a finance option. But a lot of people forget about this when they’re planning to buy a new car for themselves. They think only of the full cost of the vehicle, which often runs dangerously close to six figures! When speaking to a car dealer, make sure you know all of the finance options available to you and how they work. You should then continue looking into the finance options that other dealers are offering. Compare them. That’s how you’re going to find the best deal!
Don’t get a new ride
What’s the ultimate way to save money in this area? The same thing that saves you the most money in any walk of life: by not buying. A lot of people jump into buying a new car before they’ve even considered their current one properly. Be honest with yourself: do you really need a new car? Cars last for much longer than some people make out. Even if you don’t have one, you should carefully assess how you get on without one.