Fed up of buying used cars? New cars may be more expensive, but they can often be a better investment offering better reliability and good fuel efficiency. If you’re on a tight budget and you want to lower the upfront costs of buying a new car, here are five tricks that will help you to spend less.
Whilst you won’t find as much variation in price as you would do shopping for used cars, there is still some variation to be had when it comes to price of new cars. For this reason, it’s worth shopping around dealerships to find the one offering the best deals. Many dealers will advertise their prices online so you don’t have to visit each one individually in person.
Car dealerships expect customers to negotiate even when it comes to new cars. It’s worth trying to barter the price down. A good trick is to tell the dealer you’ll go home and think about it – if you show enough interest, they dealer won’t want you to leave and may be able to offer a last minute deal to get you staying helping you to knock a few quid off the price.
Time your purchase right
Timing can play an important part when it comes to getting discounts. Many dealerships are quieter on weekdays and so you may be more likely to strike a deal on these days when there is less demand. Fridays are often a good day to get discounts as many dealers will have weekly targets that they’re trying to meet for this day. As for specific months – February and August can both be good times to find deals as many buyers will be waiting for March and September when the latest number plates come in. You may also find that some cars are seasonal – if you’re hoping to buy a new open top BMW 2 series, it could be worth waiting until winter when the demand for convertibles is at its lowest and more deals are about.
Lease, don’t buy
Leasing can be a great way to save money on upfront costs. The likes of this new Vauxhall Astra can be leased for just £169 a month. You’ll likely need to pass a credit check to lease a new vehicle so bear this in mind if you don’t have a good credit score. With some leases you can end up paying more in the long run, but for many people it can be worth the smaller upfront costs.
Don’t be tempted into paying for extras
Some dealerships may try to throw in extras for a discounted price. This could include anything from roof racks to specialist tyres to extended warranties. Don’t be tempted into paying for these extras if you really don’t need them – especially as these extras may not really be as cheap as dealers make them out to be, often thrown in as a way of the seller making an extra bit of profit.