7 Money Saving Tips for Buying Your Next Car

  • Posted 05 Sep

7 Money Saving Tips for Buying Your Next Car

If you’re planning to buy a car, it doesn’t matter whether the car you’re looking to buy is a used car or brand new; it can be a big investment.

When buying a car, it’s essential that you take every measure possible to ensure that you’re not spending unnecessarily large amounts of money on the whole thing. Getting car finance should be an easy and straightforward process, once you’ve got all the facts.



7 Tips to Help you Save Money on Your Next Car:


  1. Set a budget and stick to it. In order to save money on your car purchase, it’s important that you decide on an amount you can afford to, and are willing to spend on the car. You should work out your finances, take account of your income and expenditure and choose a budget that you can realistically stick to in order to prevent overspending or missing repayments. Remember that a car comes with additional cost such as fuel and maintenance.
  2. Pick a vehicle carefully. Today, the Internet lets you make informed decisions long before you even physically see a car. After you’ve chosen the budget, do some research online on the model you’re after and try to learn everything about it. Doing this ‘homework’ will help you avoid making foolish mistakes. Don’t just go for a car that looks cool and attractive; only buy something that will be useful to you and make sure you test-drive it before your final decision.
  3. Look into the car’s history before buying it. Ask the right questions and don’t hesitate to ask to look at the relevant papers revealing the car’s service history. The car will be your responsibility once you buy it, so make sure you don’t accidentally overburden yourself with further repair costs unnecessarily.
  4. Buy from an auction. This is actually an excellent way to save money when buying a used car. However, it’s important to make sure to buy from reputed and trustworthy auctioneers to avoid being stuck with a faulty model in need of frequent repair works. Look into various sources to find out which auctioneers have the best reviews and testimonials and only buy from them.
  5. Work out car insurance before buying. Make sure the vehicle is properly insured from or before the day you buy it. Not doing so may cost you if the car has an accident while being driven from the dealership to your house. You will end up having to pay from your own pocket for the repairs for both your car and the other party’s. Sorting out car insurance ahead of time will help avoid extra costs.
  6. Test-drive the car carefully before you buy it. Do not buy a car without test-driving it, and when you do, be very thorough about it. Drive on different kinds of terrain, push every button and turn every wheel to make sure that the vehicle is what you’re looking for and will not cost you excessive amounts of money in the future.
  7. If you’re taking out a car loan, read the fine print. Car loans are great ways to save money on car finance but only if done carefully and with the proper consultation. Make sure the interest rates aren’t too high and that the payback is flexible before taking out a loan, to avoid regretting it later when you pay it out early.

If you feel like you’re ready to buy a car, get in touch with our team of experts today to know more about saving money on the finer details, such as car finance and car insurance.

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