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When it comes to shopping for a new car, there are some common questions that crop up consistently among our readers. Here are our pick of the questions and their solutions.
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FREQUENTLY ASKED QUESTIONS ABOUT BUYING A NEW CAR
- How do I know if it’s the right time to buy a new car?
There are a lot of factors to weigh up before you enter the car buying process. It is likely to be your largest expense after buying a home so think carefully about whether your purchase is necessary. If it is, then thoroughly research the vehicle of your choice and follow the steps in the earlier section of this guide to make sure you get a good deal. Remember to think about what you can afford – and this means looking beyond the price tag and considering running costs too. Also look at your credit rating and consider building your credit if necessary before you buy.
- What are the advantages and disadvantages of buying a new car?
Buying a new car is certainly exciting and provides a level of social status. As you are buying new, you can be confident about the vehicle’s history – you know it has not been stolen or involved in an accident as it could have been if it were a used car. You should receive a warranty, often up to three years, which provides reassurance in case of a breakdown and it’s possible to save money by offering your old car as a trade-in. On the downside, car prices in the UK are among the highest in Europe and the value of cars does depreciate rapidly – typically a car will be worth less than 50% of its original value after three years.
- How can I save money on a new car?
This has been covered in depth in part two of this guide, but the most important factor is to do your research and be well-prepared for your purchase. Use the internet as a tool to educate yourself on the type of car you want, its specification and a fair price.
- Is buying online really a better option?
There are advantages and disadvantages to buying online. However, buying online is certainly a CHEAPER option. Searching for deals on the internet through websites such as SaveMoneyOnCars.co.uk can save you a significant amount of money and you have the convenience of never having to leave your computer, or deal with an unrelenting salesman. On the downside you cannot test-drive a car you buy online – but you can negate this issue by heading to a local showroom and taking a car out for a drive to see how it runs and then returning to your computer to make a purchase.
- When is the best time to buy a new car?
March and September are when new registrations are issued and as such these are the worst times to buy a new car if you want to make savings as they are the busiest times for dealers. To capitalise on rebates, incentives and special discounts try shopping in August and February (i.e. the months immediately before new registrations are introduced) as manufacturers are likely to be eager to sell excessive stock and therefore offer rebates to dealers. Additionally, look for cheap new cars in December as the market generally slows down while people concentrate on buying for Christmas. If you don’t have time to wait for one of those months, then at least hold off until the end of each month where possible – dealers may need to hit monthly targets and be willing to drop their prices to reach those goals.
- Should I go for a diesel or a petrol engine?
Diesel fuel is usually more expensive and not very environmentally friendly. However, fuel economy on diesel engines is excellent and they are generally more reliable. So this is all about personal choice.
- Am I better off with a new car loan or a lease?
This all depends on you as an individual. If you want to own a car, have a flexible lifestyle, don’t mind slightly higher monthly payments and can make repayments quickly, go for a car loan. If you want to change your car every few years and have a static lifestyle so you know you will be able to stick to the mileage limit, consider a lease.
- Should I offer my old car as a trade-in?
Putting a trade-in or a down-payment towards your new car will help you reduce your monthly payments. However, are you getting a fair price for your trade-in? Search around online to evaluate what similar models are being sold for and don’t allow yourself to be short-changed. You can always sell your car privately.
- Can I trade in a car I still owe money on?
Yes, but you must be careful. Make sure you have a written agreement from the dealer that they will make the payment on your old car in full by the necessary date so you are not stung with late payment charges.
- What should I look for in the small print?
Make sure you read the small print thoroughly. Look to see if there are any limits to the special offers you might have been granted. For example, if you have been offered free car insurance as part of the deal, are there any age restrictions and is the cover up to the standard you require?
- How do I cope with persistent car salesmen?
Remember that the salesmen’s aim is to sell the car at the highest possible price so he or she earns more commission. That’s their job – so be polite! However, take control of the situation by doing your research and showing that you are an educated buyer who won’t be short-changed. Finally, remember that you can avoid all the showroom hassle by shopping for a new car online.
We hope you have found this guide useful and now feel well-equipped to buy a new car. Don’t forget to make SaveMoneyOnCars.co.uk your starting point to save cash and find the cheapest new car deals available.
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