5 Tips To Cut The Cost Of Your New Car

The appeal of buying a new car is enormous, but can nonetheless prove to be a pricey process. It’s no secret that used cars can be picked up for significantly cheaper prices, but there’s also nothing quite like knowing you’re the first and only owner of a brand-new car.

On the side, there are ways and means by which you can ensure you don’t overpay. There is not always much you can do about the sticker price of a new car, but approach the purchase process with the following tips in mind and you could walk away with the best possible deal on a new car:

1. Time It Right

First of all, if you’re not in any serious rush, it could benefit you to time things wisely. The reason being that the prices of new cars has a habit of fluctuating significantly throughout the year. Generally speaking, dealers are required to meet quarterly sales targets, which are tallied in the final days of March, June, September and December. In any instances where dealers still haven’t reached their required quotas, they will often reduce the prices of certain cars accordingly. If possible therefore, try to plan your purchase in accordance with these potential discounts.

2. Compare the Market

Always be aware of the fact that the price you see of the car you’re interested in might not be the price others are paying. There can often be enormous differences from one dealer to the next, which is precisely why it’s a good idea to take your search online.

We recommend using a combination of the following ways to get the best new car deal online:

  1. Use advice from Martin Lewis website

  2. Use online car brokers such as drivethedeal.com which has been in business for 18 years or Carfile.co.uk another long-established broker

  3. Simply carry out your own online research using Google and trusted car websites such as whatcar.com

Using a combination of these three things should allow you to find a new car deal that is considerably better than you expected.

3. Consider All Options

If you’re really looking to make the biggest possible savings, be sure to think about exactly what you need, perhaps keeping what you really want something of a backseat. For example, automatic cars tend to be more expensive in the UK than manual, diesel engines tend to be more expensive, optional additions to interiors can soon constitute significant expenses and so on.

4. Check Your Credit

Somewhere in the region of 80% of new car buyers use some form of credit facility to make the purchase. If you intend to do likewise, it’s important to know that your credit score at the time will have a significant impact on both your eligibility and the overall borrowing costs you can expect – MoneyFacts have a useful article about how to improve your credit score. As such, it’s definitely worth checking out your credit report free of charge from ClearScore beforehand in order to make any necessary inquiries and corrections – also have a read of this ClearScore article comparing the best loan rates.

5. End of Line

Last but not least, each and every time a new version of a car is released, dealers find themselves in a position where they have to heavily discount the outgoing model, in order to clear inventory. In such instances, it is perfectly possible to pick up a brand new car while saving up to a third on its original purchase price.

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