There are a number of reasons you need a new car. Maybe it is your first car, or maybe you are upgrading to something that better suits your needs. You may simply fancy a change, or your trusty old warhorse may have finally given up the ghost and would cost more to repair than to replace. Whatever the case, a new car can be an expensive purchase. However, there are a number of ways you can make it more manageable.
If you can afford to take your time, then shop around for the best deal. If you need the car urgently, then at least check out multiple garages and, assuming you are looking at second hand vehicles, private sellers. Not only will this let you get the best deal in terms of financial outlay, but could potentially mean you get a better car for your money which could be hugely beneficial in the long run.
Consider All Finance Options
If you need to buy a car on finance, don’t just accept the dealer’s finance options. There are multiple alternatives out there when it comes to financing your new car purchase. Third party car loan providers, or personal loans not specially designed for cars, may offer better rates. This may also make it possible to effectively buy a car from a private seller on finance, borrowing the money from your chosen lender and repaying it monthly as you would a dealer’s finance deal. However, it is true that dealer finance is sometimes more accessible.
Think About Fuel Economy
A car isn’t just a one-off cost but an ongoing one. Fuel economy will have a major impact on how much it costs to keep it on the road. Getting a car that gets more miles to the gallon could easily counteract a slightly higher initial price tag. Diesel cars offer better fuel economy than petrol ones, even when the higher cost of diesel fuel is considered, but cost more to buy when new. As such you will only benefit if you use the car a lot. When buying a used car, the price gap between petrol and diesel tends to be smaller so a diesel is more likely to be beneficial.
When you buy a new car, you will naturally be taking out a new insurance policy. Use comparison sites to find the best deal, and consider using a cashback website to bring the effective cost down. Cars can differ significantly in insurance costs, so if you are looking at more than one vehicle get some quotes online before making your choice. This will allow you to consider insurance cost differences when making your decision and potentially save money.