Next month sees the launch of a new registration plate for cars, meaning that huge numbers of people will be heading to their local car showroom to pick out a new vehicle. Whether they’re looking for a small family car or a top-of-the-range executive model though, there are a few things that they should remember, and this article will guide you through them all…
Do You Really Need a New Car?
The first thing to really think about is whether you really need a new car. After all, it’s estimated that a brand new model will lose 70-80% of its value over the first three years of ownership, so it could well be an expensive purchase to make. This reduction in price also means that it’s often far more affordable to purchase a second-hand car instead. If you are concerned about finance, there’s no need to be, as second-hand cars are also available with incredibly competitive finance packages.
If you do decide that you want a new car, there are some models to look at above others though, as they are known to hold their value much more. Top of the list are Range Rovers, and they are closely followed by vehicles from Jeep, Mercedes-Benz and Mini. For those looking for more affordable models, Dacia and Mazda cars are known to retain their value quite well. At the other end of the scale, Peugeots and Citroens hold their value the least so are best avoided if you are concerned about the resale price.
Consider Selling Your Current Car Privately
Most people will part-exchange their current car for a new model, however this is not always the best way to do things. This is simply due to the fact that car showrooms will usually offer an amount far less than the market value, as they have to make a profit when they resell it to a customer. By missing out the middleman though, and selling the car yourself, you can usually make much more – some will even see their sale value rise by thousands. Of course, this might not be possible though and it really comes down to your own personal circumstances.
Always, Always Haggle
Perhaps the number one rule when buying a new car is this: you should absolutely never pay the advertised price for a car. Instead, you should haggle with the sales assistant and procure a discount. It’s important to remember this one fact: all car salesmen expect you to haggle over the price, and have priced the car accordingly. Therefore, they are nearly always happy to knock money off the price in order to secure a sale. Of course, if you don’t haggle then the salesmen are perfectly happy to sell at inflated prices. Don’t forget that you can also haggle over the trade-in price for your old car, potentially meaning that you can end up with an even better overall deal.
Think About Running Costs
Just because a car is cheaper than others, it doesn’t mean that it will be the cheapest in the long run. Why? Because you have to factor in costs such as fuel efficiency, tax and insurance premiums, all of which vary from car to car. When it comes to fuel efficiency, you should certainly not believe the figures that are mentioned by the manufacturers, or even the salesmen: instead, head to an independent website with accurate figures to get your information. In general though, the smaller the engine, the cheaper a car is to run. There’s now not much difference between diesel and petrol cars, as the cost of each at the pump has become quite similar.
Before you make any purchase, you should check to see how much the insurance will cost, and you can do this by using our price comparison tool, which takes quotes from numerous providers to ensure that you get the most competitive quote possible.
Give our friendly team a call on 01243 219300 if you have any questions or simply want to get a quote for your new car before you buy.