(Newswire.net — January 21, 2020) — Aside from buying a house, purchasing a car is most likely going to be your second most expensive investment. It is a hefty decision to make, which is why you should pump the brakes before making a choice on which car to get and how you are going to pay for the vehicle.
Buy used
We all want a brand new car that’s shiny all over and the latest model, but that doesn’t mean it’s money well spent. Once we buy a car and drive it off the lot, the car loses its value, and then when it comes to new cars, it continues to depreciate at a significant rate.
A used car that is more than five-years-old, however, doesn’t lose as much value. Plus, a used car doesn’t mean you are driving a car that’s lacking in technology – you can still buy an upmarket car. Look online and at websites such as autouncle.co.uk for a selection of reliable cars.
Don’t fall for upselling tactics
Firstly, have a budget in place that is realistic. Doing this will stop you from being tempted by any salesperson who is trying to upsell the latest model to you that is too expensive but affordable on finance. While leasing always sounds tempting, it is more expensive in the long-run – and you still have to pay for regular maintenance. What’s more, if you return the car that is slightly damaged, the dealership can charge you fees.
Inspect the car
Regardless as to whether it is brand new or used, always inspect the vehicle so that it is in the best condition. Have the vehicle inspected by a trusted mechanic, and if a dealership doesn’t allow impartial inspections, this is a huge red flag and a sign not to buy the car but also not to buy from them.
A car can look pristine on the outside, but it is what is happening under the hood that is important. Checking the internal mechanics of the car can save you a lot of money and stress.
Negotiate
There is always room for haggling when it comes to the price of a car. First, do your research and see how much the vehicle is going for on different sites, etc. This is your biggest tool. You can also bring a mechanic (if you know one) and have them inspect the vehicle so that they can point out any issues that’ll cause the price to decline.
If you are buying from a dealership, salespeople usually have a monthly quota to make. Heading to a dealership during the end of the month is best because they are more likely to do deals so that they hit their targets that month. Keep this in mind.
Buying your first car doesn’t have to be a huge deal, but it is an exciting time that can cause some stress. This is why you should remember the above guide so that you get a car that not only suits you but is affordable.