How to Get a Better Deal When You Buy a Car

Buying a car is major expense, so you don’t want to leave money on the table, when purchasing such a significant item. Similar to life’s other purchasing milestones, conducting advance research and identifying must-haves can help you navigate the process, without spending more than you should. Are you sticking to a strict spending budget? Is your search for a car locked-in on a certain type or a specific model? How do you plan to cover the cost of your new car?

Addressing these and other relevant questions is a good start, guiding your quest for a suitable set of wheels. If your buying budget needs a boost on your way to payday – without a drawn-out credit check, UK loans online can help you secure fast cash for buying a car. Getting the best price is up to you, with the help of these car-buying tips.

Time Your Purchase

You can’t predict the future or bend economic conditions in your favour, but you can time your car purchase for the best possible value. Is now a good time to buy a car? Necessity may be at play, determining when you step up to the dealer’s for a new car, but a little advanced planning goes a long way, allowing you to set the stage for a prudent buy.

If your car’s on its last legs, pay closer attention to prices in your area, and spend time researching various makes and models, so you’re ready to make move when the time’s right. The more groundwork you lay leading up to a car purchase, the more likely you are to find agreeable terms on the model you want. According to some analysts, current market conditions are very favorable for buyers.

The number of cars being sold is going down. In fact, the phenomenon is so pronounced; manufacturers have adjusted production levels, anticipating fewer sales. Last year’s figures show the worst performance in the car market since the financial crisis, more than a decade ago. The industry had undergone a steady recovery following the global downturn, but buyers have recently been cautious about making financial commitments.

It isn’t always easy to identify the catalysts behind consumer behavior, but current conditions may nonetheless work to your advantage, buying a car in today’s market. Dealers are eager to shift inventory, so haggling can yield aggressive discounts.

Pick an Affordable Model

Like other consumer markets, the car industry responds to supply and demand. That means the most desirable cars, stimulating a high level of interest among car buyers, are also the ones for which you’ll pay a premium. That’s not to say high-demand cars are the most expensive on the road, only that dealers are less likely to discount models that will sell quickly, due to brisk demand.

In addition to general popularity among UK motorists, the price of cars is also influenced by seasonal factors. For instance, you’ll pay more for a 4X4 in the winter, when road conditions demand it, than in the summer time, when car buyers are less concerned about slippery roadways.

Negotiate the Price

Haggling doesn’t come naturally to everyone, so if you’re too shy to negotiate with car dealers, take along a friend or family member, prepared to work out a deal on your behalf. Though the forward, brazen approach makes some would-be buyers uncomfortable, haggling is a natural part of the car buying process, expected by car dealers who negotiate pricing day in and day out.

To make headway with sellers, car buyers should work out specs in advance of visiting dealerships, and then conduct research, pricing exactly the make and model in which they are most interested. Building a rapport with sales staff helps break the ice, but you shouldn’t hesitate to walk away when a deal doesn’t come together.

Buying a new car is a significant financial milestone, so you don’t want to overpay for the privilege. Haggling with dealers, selecting an affordable model, and properly timing your purchase are three proven ways to minimise the expense, without sacrificing your freedom to roam the roadways.

Paul graduated in 2001 with a degree in Finance. Since then he has gone on to work for several of the UK's most well-known financial institutions.

An avid blogger and a huge football fan, Paul is here to guide you through the ins and outs of personal finance and perhaps save you some money in the process!

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