Whether you have just passed your driving test or are simply on the lookout for a new vehicle, there are many benefits to getting a new car. Not only does it mean you no longer have to rely on public transport, your car keys are your ticket to freedom and adventure – whether you are heading out on a staycation or simply going for a drive. Furthemore, studies suggest that getting behind the wheel is a great way to deal with stress and can even reduce anxiety.
However, purchasing a car can be expensive, meaning you may be a little reluctant to start the process as you don’t want to drain your bank account entirely. With that in mind, here are just some of the ways you can save money when buying a car.
- Get to grips with your finances. Money management is an essential skill, and the importance of it is often understated. In fact, it’s often considered one of the lessons you need to learn in your 20s. The earlier you get to grips with your finances, the better – as it will make making large-scale purchases such as cars much easier, as you’ll already have the money set up in savings. If you know you’re planning to buy a car in the future and don’t need one immediately – start saving up sooner rather than later. Set aside a small amount of money each week and watch your bank account grow. This reduces any financial pressure you are putting on yourself, as you don’t need to come up with all of the money at once.
- Know what you are looking for ahead of time. If you enter a dealership without even the slightest idea of what you are looking for, the salesperson could use this to your advantage – guiding you towards the most expensive options when a cheaper model (that meets all of your needs) sits neglected in the corner of the showroom. Therefore, you should ensure you do your research ahead of time, researching both brands and specific makes of car. For example, if you know you want a 4X4 to accommodate your growing family, you might want to consider cars such as the Vauxhall 4×4 models.
- Don’t be afraid to negotiate. When it comes to purchasing a car, there is often a little room for negotiation. This is where your previous research can come in handy. For example, you could mention to the company you are buying from that you saw the vehicle for a much lower price elsewhere, which could prompt them into providing you with a better offer or deal.
- Consider buying second hand. While purchasing a shiny new vehicle may seem particularly inviting, buying a second-hand car is another way in which you can save a great deal of money. Remember, while it may not be brand new, it will still do the same job!
- Compare different insurance policies. Car insurance can sometimes be more expensive than the cost of the car itself (especially if you are a first-time driver or have experienced problems in the past). Therefore, you must compare prices across different providers, ensuring that you aren’t overspending unnecessarily.