When we buy a new car we will have a lot of money to pay out in most cases. This means that it can be really handy if you can think of some ways where you can make the whole process cheaper. There are some things that you can do that can really help.
Negotiate on price
It is not very British to negotiate on prices and therefore is not something that tends to come very naturally to us. However, we could potentially save a significant amount of money if we did negotiate on price. Whether you are buying form a dealer or directly, there may be some leeway on price. It can be worth coming down quite low and they are likely to refuse but then ask what their minimum might be and it might be that you will be able to pay less than they originally asked you for. If you are a bit unsure about doing this or about how to do it then research first. You will find that there are videos online that you could watch as well as websites which will give you advice on how to negotiate. If you can learn some tricks and have some hints as to how to do it, you should be more confident and therefore more successful.
Find the cheapest finance deal
Many people will use a loan such as those offered by Cobra to buy a car. This might be a bank loan or one from a dealer. Either way, it is sensible that you get the cheapest loan that you can. It is likely that you will find that a loan form a dealer is dearer than one form a bank or building society, but you will not know unless you do some research. Look at the loans that are available and compare the costs of them. Be careful to make sure that as well as comparing the interest rates that you also compare the other costs of the loan. There might be administration fees and things like that. It is also important to see whether you will be able to afford the repayments. Loans will have different repayment schedules, some having regular monthly repayments and others being more flexible. It is important to choose the right one for you so that you can be sure that you will be able to afford the repayments.
Make money from your old vehicle
If you have an old car then make as much money as you can from it. You might decide to part exchange it if you use a dealer, but make sure that you get other money form it as well. You may have things of value in the car such as floor mats and other accessories that you could remove before you sell it and get extra money for. You may also be owed some car tax so make sure that you claim that back if you are entitled to any. If you do not part exchange the car then you may be able to sell it or sell parts. It is good to do some research so that you can make as much money from it as possible.
Buy fuel efficient model which is cheap to insure and repair
When choosing a car it is wise to buy one that is cheap to run. A fuel-efficient car will save you money when you drive it. Usually smaller cars or hybrids are best for this but it is good to compare different makes and models to see which might be the best. Also consider which might be the cheapest to insure, usually a bigger and more expensive car is more expensive but also sporty models tend to be dearer. Parts are also worth considering as well. This is because some parts can be very hard to get and therefore more expensive however many cars will just take standard parts. It is worth checking this out before you buy.
Get cheapest insurance
All cars have to be insured but the insurance will vary in cost depending on which insurer you use. It is well worth comparing different insurance companies so that you can get the cheapest possible insurance. There are so many differences between policies, such as what you get covered for, that it is important to make sure that you are getting the coverage that you need for the price that you are quoted. You will also find that if you can pay the insurance in a lump sum for the year it will be less than if you pay it monthly. It is therefore worth doing this if you can afford it and you may want to budget for this when you are saving up towards buying your new car. It is well worth spending some time doing this as it could make a significant difference.