Buying a New Car: Getting the Cheapest Deal
So you’re looking to buy a new car, but how can you get the cheapest deal? From maintenance and running costs to finance, we’ll show you the hassle-free way of getting a great cheap deal.
If you’re looking to buy a new motor, the chances are you’re looking for the best deal. But can cheap mean no hassle? We’ll show you how to get the best new car deals quickly and easily.
Do Your Research
You might be able to find a perfect, high spec car at a great price, but will it give you value for money over the long term?
When buying a new car, consider the additional costs. Affording the car itself may not be an issue, but many car owners find themselves unable to run it because of high insurance costs. New cars are assigned an insurance group rating, ranging from 1 (cheapest to insure) to 50. High-performance models are likely to have a higher rating and are likely to incur higher insurance costs. Buying a car with a lower group rating means you’ll save money over the long term.
How The Rating System Works
Insurance group ratings are assigned based on a variety of factors:
•Repair Times
Longer repair costs will incur higher costs and more than likely, a higher rating.
•Price of Parts
The cost of parts from one manufacturer to another varies, and these are compared to assign ratings. The lower the cost of parts, the less you’ll have to pay out in insurance.
Petrol or Diesel?
There’s plenty of debate among car owners about whether petrol or diesel-run cars are cheaper and more efficient. The truth is, there are benefits of both, and the choice you make will depend on how much you use your car.
Diesel powered cars are between £1,000 and £3,000 more expensive than their petrol counterparts. If you’re looking for a cheap car, it may seem like a no brainer to go for petrol, but if you drive more than 12,000 miles a year, you could save yourself a lot of cash in fuel expenses by opting for diesel.
It goes without saying, if you want a faster car with a high performance, you’ll have to pay out more. But that doesn’t mean you can’t still get a great deal.
Using a Reverse Auction Website
A reverse auction website takes the hassle out of finding cheap new car deals and negotiating a good price. Instead, suppliers bid against each other for your order. As they compete, the total price you’ll pay decreases, which can save you thousands of pounds on your new car. Simply choose your specification, set the maximum amount you’re willing to pay, and sit back and wait!
Buying a car can be time consuming and stressful. It’s no small investment, so you’ll inevitably want the best deal. If you do your research and find the best option for your circumstances, you could save a lot of money. You should also remember to put together a solid financial plan, whether you pay in monthly instalments or opt for a personal loan. Ultimately, if you’re looking for cheap new car deals, what’s stopping you?