4 Ways To Save Money On Your Next Car

Choosing what car to buy can be a hugely time-consuming process. It is also a big financial commitment and therefore, you need to take your time and do your homework before deciding which car to buy.

Below are 4 smart tips that will help you to save some money when purchasing your next car.

Buy Used

This may seem obvious but it needs to be said. Simply put, save yourself from shelling out a tonne of money on a brand new car by opting for a slightly older model instead.

Depreciation is much faster on new cars, after 3-4 years a new car is typically worth half the value it was bought for. A“new to you” used car will depreciate as well, however, it won’t be as fast a rate of depreciation as a brand new car.  

Opting for a used car will help keep your insurance costs down. Your insurance policy usually takes into account the cost of your vehicle and a slightly older car will be less valuable, therefore bringing your insurance costs down slightly.

As a heads up, it’s a good idea to check the MOT and service dates to see if they will be needed in the near future. If they are due soon then it’s worth getting the dealer to complete these prior to the sale.  

Buy Online

Negotiating the price is so important to ensure you get the fairest deal. Doing this in person is not always easy therefore buying online might be a better choice for you.

Instead of heading straight to your nearest car dealers start the conversation with an email. This will help you avoid intense sales pitches and give you time to think and compose your response.   

Do as much research as possible and ask the dealer for as much information as possible so you are fully prepared when you go to view the car.

Car History Check

Be educated and do your research. You can use Cazana.com to get a detailed car history. This check gives you a wealth of valuable information such as MOT history, the car’s legal status (i.e if it has been written off before or if there is any outstanding finance on it).

This clever website also gives you a price valuation and provides you with a full history of previous ads for the car and price it was advertised for.

Checking the car’s history will give you peace of mind, that you won’t get stung for any outstanding finance that may be on it or any other nasty hidden surprises.

Trade in

If you currently own a car ask the dealer if you can trade it in for credit against the new car. This will also save you time and the cost of having to sell it privately yourself.

However, it is worth noting that selling to the dealer may not necessarily get you the best price but it is much easier than selling it yourself.

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