Top Tips for Saving Money On Your Next Vehicle

Need to buy a new car? Check these tips out first!

For many people, driving a car is an essential part of modern life. People often rely on their cars for commuting, doing the weekly food shopping, ferrying the kids around, and social pursuits. However, buying a car can be costly, and that’s not even taking into consideration the cost of maintenance, fuel, and insurance. Avoid unnecessarily wasting your hard-earned cash by using our tips to try and get your next vehicle for the best possible price.

Opt for a Used Car

It is no surprise that used vehicles are much cheaper than new ones, but did you know that you can pick up a year-old model for up to 50% of the car’s original value? This depreciates further as the years go by (depending on various other factors), which allows you to benefit from having an almost new car without breaking the bank. You can also get better deals depending on where you buy the car from; for example, used cars in areas like Cannock and Birmingham are known for having the best deals.

Consider the Fuel Efficiency

While not an instant money-saver, choosing a vehicle with high fuel efficiency will save you considerable costs in the long term. You’ll save on spending more on fuel or diesel, which is beneficial amidst rising fuel prices. Go a step further and consider investing in an electric car - that way, you only need to pay for the electricity needed to charge the vehicle. If you are lucky, you could do this at your place of work and save even more money.

Negotiate the Price

Do not shy away from asking for a discount if you feel there are reasonable grounds to do so. Do your research and know the car’s true value - also, see if other places have a better deal for the same model. If you notice any faults or marks, use this to negotiate a better price. Remember, you can always walk away if the deal is not right.

 

Buy at the Right Time

Unless you need a new car as soon as possible, be patient and wait until there are some good new deals on the market. Dealers often have quarterly targets to meet, so the end of March, June, September, and December are good times to buy as this is when they will be trying to make a last-minute sale and will be more willing to negotiate and offer attractive finance packages.

These tips should help you save money on your next car purchase. Buying a car will always be a major financial decision, but there are always smart ways to bring the costs down.