Escaping the Pitfalls of the Car-Buying Process
When buying a car, new or used, there are so many things to consider that it’s easy to find yourself overwhelmed. It’s difficult enough deciding on what manufacturer you want to buy from, what model you want to drive, and what year of that model is best suited to you (not to mention finding that perfect storm-silver paintjob!), but the process becomes even more difficult when it comes to deciding how you’re going to finance your dream ride.
And when pondering on personal loans and considering credit cards, it becomes easy to forget some of the simpler ways of saving money when buying a car, such as doing proper research into the range of prices available, the deals that slightly older cars offer, and the too-oft forgotten tradition of haggling.
A great place to do research for your new or used car is the Internet. With price comparison sites a-plenty and useful information on surplus numbers of cars, (and the real values behind the sticker prices at showrooms) the Internet should be the first stop for all prospective car buyers looking to calculate that all-important figure: how much you’re going to spend (do not leave this to the salesman to calculate!).
Another thing to consider when calculating this number is whether you’d consider buying a slightly older car instead of a new one. The Guardian recently reported that there were savings as big as 40% to be made on cars just twelve months old and even greater savings if buyers would think about buying a 3-year old model.
Deciding on a figure of how much you want to spend is integral to the final saving method that buyers often disregard: haggling. Whether due to a national embarrassment about asserting control, or because people just want the process over and done with, research has shown that car buyers lose thousands each year because they’re unwilling to haggle. The research, put together by Sainsbury’s, states that, of the 1.5 million people expected to buy cars between March and August this year, 195,000 would not consider haggling over the price of their car. Easier Motoring supported these figures, suggesting that by bargaining on the forecourt, buyers would make an average saving of around £1,468.
Again, the Internet is a useful tool in preparing would-be car buyers for haggling with the salesmen (a practiced tradition that they accept and enjoy). And once you’ve decided on what car, what year, and how you’ll bamboozle the salesmen with your mastered haggle techniques, the Internet also provides advice on the best, and cheapest ways to finance your car, whether you’ve decided you want the car to be all yours as soon as possible, and want a car loan, or whether you want the low deposits and low monthly payments of a Personal Contract Purchase (PCP).
So remember, there’s plenty of ways to get your hands on a new car for less, you just need to do your research!
Written by Car Enthusiast on May 9th, 2008 with
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