Buying a new car is an exciting prospect. You’ve probably got big ideas for the brand, the model, engine size and additional features, however, buying a car can also be an incredibly drawn out and stressful process. You want the car of your dreams for the best price and you know that your budget will only stretch so far, so how can you be sure you’re getting the best deal?
Buying a new (or used) car shouldn’t mean putting yourself in a difficult financial situation, with more people than ever defaulting on their car repayments, it makes sense to take your time rather than rushing into a binding contract. If you’re in financial difficulty due to your car payments, reach out to Creditfix as soon as possible for some helpful advice. Saving as much money as possible on your auto purchase should be your number one priority, here we’ll explore what you need to know about buying your next car.
Consider a smaller car
We all know how those large 4x4s turn heads. They look impressive, to say the least! However, if you have your eye on something bigger than you really need, then you could be setting yourself up for financial failure. Before you hit the car showroom or browse online, consider reassessing your requirements, as doing so could save you a bundle and mean more realistic monthly repayments. Alternatively purchasing a less recent model could be a smaller price tag and the same high-quality recognition.
It’s also worth remembering that in most cases, the smaller or more modest vehicle you purchase, the less fuel you’ll have to use, the more economical it will be, and the easier your daily commute will be.
Don’t be afraid to haggle
Ok, so maybe you’re not in a market in a distant land, but that doesn’t mean you can’t haggle for the best price on things like extras, services and additional packages. Many haggle-pros tend to start the haggling process towards the end of the sales interaction, putting additional pressure on the salesperson to get the full sale over the line! Getting that additional year in your free-service package could be a deal-breaker.
Wait until the end of the month
It’s often at the end of the month when sales personnel are hoping to get themselves over the line and sell a certain number of cars to hit their personal targets. If you wait to buy until the end of the month then you may find additional offers, incentives and sales teams who are willing to negotiate lower prices.
And finally, looking at finance options? Understand the package
Purchasing a car through PCP or HP is the most modern and convenient way of obtaining a vehicle. However, at a glance, it can seem incredibly complicated and confusing. Before you commit to any financial contract, make sure you’re fully aware of the interest rate, how much your deposit contribution will be and any other deals that are available. Shop around for the best deal and do plenty of research before you hit the showroom.