There’s no doubt that buying a new car is an exciting process. However, it can come with a lot of stress and pressure too. For many, the purchase really is to fill a need, rather than being an indulgent splurge or a spontaneous treat. So, if you know a new car is essential, but you’ve got a pretty tight budget, finding the right motor can be a bit daunting.
Fortunately, there are plenty of ways to get a great deal. You’ve just got to know where to look and how to negotiate. For instance, you can take out finance for a new car from Latitude Finance and enjoy manageable repayments, with a low rate of interest. If you’ve got the right plan, bagging a super set of wheels is easy.
Do Your Own Research
The job of a salesman is to convince you to spend money, preferably more than you can afford. However, this is much harder to do if you have a concrete plan and know exactly what you want. Don’t rock up to a car lot or dealership before deciding what you are there to buy.
Be a Savvy Shopper
Conducting your own research means getting informed about price. It’s much easier to stay on budget if you have a reasonable idea about how much your car is going to cost. There is lots of information online about new and used models. Keep an eye out for dealers that try to take you for a ride with inflated prices.
Consider Proper Financing
It’s common for people to take out loans from the car dealerships themselves. However, this is one of the most expensive options. The best route is to get in touch with your bank or a formal lender and request a small, personal payment plan.
Don’t Be Afraid to Leave
You should never be afraid to leave an unsuitable deal. Don’t forget you have no obligation towards a salesperson. In fact, it is their job to keep you from walking away. So, playing hardball and preparing to walk out on a bad offer can sometimes lead to unexpected gains.
Buy Based on Total Cost
Always buy based on the total cost of the car, rather than the monthly payments. It’s no good paying a knockdown fee each month if you’re going to be stuck in a contract for four years. Again, negotiate the overall cost. Don’t be tricked into a deal that only sounds great until you get home and check out the paperwork.
Think About Insurance Costs
Don’t forget to add the cost of monthly insurance payments to your budget. This will prevent you from overspending and ensure you get a car that is manageable to run, as well as having a great purchase price. Some models attract higher premiums, so be aware of this when looking for the perfect vehicle.
Leave the Extended Warranty
Often, extended warranties aren’t as great as they sound. In fact, they cover a lot less than you think and rarely protect you in the event of basic mechanical failures. Furthermore, new cars come with a manufacturing warranty as standard anyway.
Why Being Prepared Is the Best Way to Bag a Bargain
The easiest way to get an excellent deal on a car is to know your stuff. Salespeople are always on the lookout for the terminally indecisive. They ‘help’ you fill in the gaps with things you don’t want or need, so be sure of yourself. Have a clear goal in mind and don’t be afraid to say no to deal that doesn’t suit you.