Demand for new cars is rising, and so is demand for used cars. It is a fantastic time for the used car market. Anyone looking to buy a new car is spoiled for choice, as a result.
So how should you go about securing the best deal on a new car in today’s market?
Think about the Long-Term
There is more value to a new car than just the price you pay when you drive it off the forecourt. You have to consider the long-term value of the car since this is exactly what the dealership is thinking. They are thinking about how much you are getting for your money, and they are going to attempt to make you realise that.
Whenever you buy a new car, think about the potential resale value of the car. You are never going to be able to predict this with any great accuracy, but in general, the best cars for resale are those that come from reliable brands.
For example, Ford cars always come with excellent resale value. When they are done being at the top of the market, they tend to make great low-cost cars for first-time drivers. Relatively small cars also tend to come with the best resale value.
Have a Budget
Dealerships are masters of making you pay more than you expected. If you walk in blind, you are going to leave the dealership spending more than you expected. The trick is to go into the car buying process with a target price. This is your budget, and you will not go over that budget for any reason.
This way the salesperson can never get you above this figure. Ideally, you should be aiming to spend less than your top ceiling.
Do Your Research
The silver tongue of a car salesperson can work its magic when you have no real idea what you want to buy. Educate yourself on the model you wish to purchase. They are never going to be able to sway you if you already know what you are looking for.
By doing your research, you will also prevent yourself from being influenced by anything else. During the buying process, the salesperson is always going to attempt to get you to purchase a more expensive model. It is their job. But if you put your foot down early you are limiting their influence over you.
Pay Cash for a Better Price
The reason why new cars turn out to be so expensive is not just because of the initial price. Most people are unable to buy the car outright, so they have to take out a loan. This type of financing can lead to you paying hundreds of pounds more than necessary.
Cash is quicker, cleaner, and it allows you to avoid the interest rates that come with financing.
Never Buy the Newest of New Cars
There are two types of new cars you have to take into account. The first type of new car is the car that has just been released. It is no more than six months old, and it is the latest model. These are the most expensive cars of all, and you can forget about finding a different price by shopping around. These cars tend to be fixed in price for a considerable amount of time.
The second type of new car is not necessarily the newest model, but the car has never had an owner. Many new cars will languish on forecourts for up to a year before someone first buys them. These cars are always cheaper because the dealership has had no choice but to reduce the price.
By purchasing a car with some age on it, you can save thousands.
You should always shop around when it comes to new cars. Despite the fact that the prices are never going to differ hugely, there are still some differences. You may even want to look around for sales days. These are celebration days where the dealership will cut the prices of even new cars.
They are most common during any of the UK bank holiday weekends. Dealerships know that nobody is at work, and so they are more likely to shop around for cars. They attempt to make the day into a celebration where the whole family can come down to look at what they have to offer.
This is the ideal time to make a purchase of a new car.
How will you get the best deal on your next car?