Money Saving Tips When Buying A New Car

    Posted by Ben Davidson about 9 months ago
    When we say ‘buying a new car,’ we aren’t necessarily talking about something fresh off the production line. We are talking about any car, be that something brand new from your local dealer or a second-hand model that can still be a viable purchase for those looking for something attractive to drive around in. Either option can be expensive, but here are a few money-saving tips to help you when you decide to ditch your old car for something new.

    1. Remember long-term savings

    When you are looking at your next purchase, think of the long-term. Buying something second-hand is fine, but you don’t want something that is going to cause you larger expense down the line, due to mechanical failure, and the like. So, resist the urge to go for the cheapest deal on an older car, and go for something made within the last few years. Newer cars are often cheaper to run, there is no tax to pay on cars with zero-emissions, and you are less likely to run into mechanical faults. And besides, if you are looking for street-cred, last year’s models are little different to the very latest cars, so something lightly used is still a worthwhile purchase.

    2. Avoid trade-ins

    It’s easier to trade-in your old car as part of the transaction, but you won’t get as much bang for your buck. It makes better financial sense to sell your current car yourself, despite the hassle. You could save yourself hundreds of dollars (if not more) by doing so, so don’t be swayed by the attractive offer given to you through the car dealer’s sales patter. Spend a little time sprucing up your vehicle, and you will increase the value when trying to sell. Focus on the classifieds, trade magazines, and sites such as Craigslist, and you should find a buyer within a reasonably short time period.

    3. Buy what you need

    The latest cars come with all kinds of bells and whistles, some of which are useful (driving assists), and others that come with features that are a luxury but not necessarily essential (5G connectivity, Alexa integration, and so on). Rather than buying something fully loaded, no matter how desirable, go for the mid-level model instead. You are getting the same car, with meaningful upgrades, but without paying for anything you probably don’t need - incorporated blu-ray players being just one of them.

    4. Get your own financing

    Not many of us have the means to buy a car outright (especially newer models), so it’s commonplace to find finance. When doing so, it’s better to shop around than accept the car dealership’s financing offer, as they generally hike up the interest. An auto loan calculator will give you an idea of the cost you should expect from a car finance deal, so shop around until you find a reasonable deal. Again, it takes time and patience, but it will save you money in the long-term if you don’t go the easy route and accept what the dealer has to offer (unless they are genuinely offering you value for your money).

    Final word

    Considering the ‘other’ expenses that come with any car down the line, saving money at the outset will put you in a better position to cover these when you need to. Follow our tips, be a wise and savvy shopper, and you should be able to protect your finances, for all your driving needs.

    Tags:

    Latest Articles

    See All
    • Kids And Cars - Keep Them Happy In The Back Seats
      Kids And Cars - Keep Them Happy In The Back Seats

      December 7, 2018 - There are a few things that you can do to keep them even more comfortable in the back. In fact, you could even keep them a bit more entertained so they don’t end up so bored easily. Read on to find out more!

    • The Best Trucks For Going Off Road
      The Best Trucks For Going Off Road

      December 7, 2018 - They’re some of the most durable and exciting options out there for you, and there’s such a broad range of 4x4 and SUVs that you could choose from. If you know you do a lot of off roading, then this article is going to suit you even more, because we

    • Feeling Secure On The Road Is The Basis Of Good Driving
      Feeling Secure On The Road Is The Basis Of Good Dr...

      December 4, 2018 - Drive a considerable distance from point A to point B in your daily life, and you’ll likely agree that many examples of bad driving will likely show themselves to you. You might be cut off, or you might see someone subtly swerving from side to side,

    • Customising Your Vehicle to Stand Out from the Crowd
      Customising Your Vehicle to Stand Out from the Cro...

      December 4, 2018 - There are so many different practical factors that we take into account when we choose a vehicle of our own. We consider cost, finding something that falls within our budget. We consider safety, opting for vehicles that are up to standard. We . Final

    • How To Have A Safe Vacation
      How To Have A Safe Vacation

      December 4, 2018 - When it comes to heading off on vacation, you know that you’re always going to have a ton of things to think about. But most of the time, if you’re honest, you’ll know that things, like packing and getting your plans organized, are what monopolizes m

    • 2018 Abarth 124 Spider: Italian Passion meets Japanese Precision
      2018 Abarth 124 Spider: Italian Passion meets Japa...

      December 3, 2018 - Many of us view classic cars with rose-coloured glasses. We might tell ourselves how cars back then were built better, drove better, easier to work on and more enjoyable back then. There is, arguably, a grain of truth to it, but the reality is, livin

    • The Perfect Road Trip
      The Perfect Road Trip

      December 2, 2018 - So, perhaps it’s time to cut that weekend grocery drive out, and head out on a road trip - after all life is short, and there is a lot to see and do. While it might be nice to drive off into the sunset for a while, the chances are that isn’t going to

    • How To Tell If You’re A Dangerous Driver
      How To Tell If You’re A Dangerous Driver

      December 2, 2018 - Along with these, though, you will also often find some bad habits, and it can be hard to know what needs to be done to find and destroy these elements of your driving career. To help you out with this, this post will be exploring some of the best wa

    • Car Out Of Commission? Here’s How To Cope!
      Car Out Of Commission? Here’s How To Cope!

      December 2, 2018 - Luckily, even if you do find yourself in a situation where your vehicle is out of commission, there are some steps you can take to cope. Read on to find out what they are.

    • Picking Our Battles: What Sort Of Car Troubles (Aside From The Basics) Should We Try To Fix Ourselve
      Picking Our Battles: What Sort Of Car Troubles (As...

      December 2, 2018 - We leave these things to the mechanics, but when we have an active interest in the maintenance of our car, but we don't have the confidence to embrace it wholeheartedly, we can make sure we prepare adequately. Complicated? Not always

    Share This!

    or