Tips for Buying a New Car
Buying a new car can be an exciting-yet-stressful experience. It’s one that thousands of people go through every year – according to data released by SMMT, more than 660,000 new vehicles have been registered YTD as of May 2022.
A new car is one of the most expensive purchases you’re likely to make in your life. City cars have an average price of £13,600, according to data published by Statista – and that’s the cheapest category.
Accordingly, you want to feel confident that you’re making the right decision. The good news is that you don’t have to be an expert yourself; all you need to do is follow our expert tips below.
Make a Budget
The most important question to ask yourself is: how much can you afford to spend? Carefully assess your finances and work out how much you can spend while still meeting your responsibilities.
It may be that you can’t afford a new car – this is okay. There are many high-quality used cars for sale out there – consider buying one of these instead.
Think About What You Need
The way that you’ll use your new car should guide you through the selection process. If you transport bulky items, is there enough boot space? Will your child seats fit in the back? Will a diesel or petrol vehicle be better suited to the amount of driving that you do?
Consider questions like these carefully in order to know the key features that your new car will need before you start searching. Ask your family members too, as they might think of something that you won’t.
Furthermore, even though you are most likely paying for the car outright, there may be additional expenses to consider like the sales tax, insurance, gas, fees and fees, repairs and maintenance, and interior accessories such as car mats, dash cam, and car seat covers for the upholstery.
Before you buy, make sure you understand all the features you require and the costs associated with your vehicle purchase.
Look at Resale Value
It pays well to consider how long you’re likely to keep your car. If you’re hoping to keep it for as long as possible, then this factor won’t bear much on which brand or model you buy.
But if you plan on keeping your new car for a few years and then selling it, you’ll need to choose a car that will give you back as much cash as possible.
Explore Seller Options
There are two main ways that you can buy a new car. Since they each come with their own pros and cons, weigh up which is a better fit for you.
Franchised dealers have expert staff that can give you support during and after your purchase.
You’ll get the opportunity to view the cars up close and compare each model and specifications, better allowing you to find one that’s suitable for you.
Brokers source cars from dealerships and can usually offer you a significant discount on the same used car.
They tend to make the process more transparent and put less sales pressure on you than salesmen at the dealership. However, you won’t get the same knowledgeable advice, nor the chance to see the cars in person.
What’s your best tip for someone buying a new car? Share your advice with us in the comments section!
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