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One of the biggest purchases we make, except for a new home, is a new car. Lots of people don’t realise that even if you are buying a new car there are still savings to be made. Before you start you should make sure you’ve worked out what you can afford and have done plenty of research into the car you’re planning to buy – including the list price. Whether you’re paying cash, part exchanging or organising a finance plan, car dealers’ prices aren’t fixed. Have a read of our guide to find out our top tips for getting a great price for your new car.
Get Quotes From Multiple Dealerships.
It always pays to shop around no matter what you are buying but even more so with a large purchase. You can check online at a site like cars.com to find out what dealers are offering in your area. It may even be worth travelling to a larger town or city to get the best deals. You can often get great deals on delivery mileage or pre-registered cars cars have recently been registered. The cars tend to be in stock now and available for immediate delivery with £££s off the MRRP and very low mileage (usually under 200 miles). If you don’t have really rigid specs in mind they can be a great deal.
Don’t Become Emotional.
Stay calm and remember it’s only a car. Try not to get too attached to one particular car, look around and get the best deal you can. Be prepared to walk out of the dealers if you don’t get the deal you want. Also remember to take a test drive – looks aren’t everything in cars.
Negotiate the Purchase Price.
- Don’t be embarassed to negotiate, remember the salesperson is expecting you to try and do a deal.
- Are you going to pay cash? If so don’t tell the salesperson straight away. Dealers make bigger profits on finance deals, so let them bargain the car’s price on this basis. You can then decline the finance deal later in the process – sneaky eh !
- Start off by stating an amount lower than what you’re actually prepared to pay – you may be surprised and get a better price than you expected.
- Don’t Only Focus on Monthly Payments, you may be able to get your finance cheaper somewhere else.
Why not take a read of our post on how to save money on your car maintenance this winter for some up to the minute tips.