Buying a car is one of the most expensive single purchases you are likely to make. A survey from the Telegraph last year found that the average price for a new car plus the first year’s fuel in the UK is £18,901.
Thankfully, there are several tips and tricks that you can try if you want to keep the costs of your new car down. Here are some of them.
Shop around the world and get your car shipped to you
No matter how many local car lots you scour, you’re unlikely to find the best possible automobile deal. Instead of searching within your local radius, it might be worth taking your search further afield.
Driving.co.uk recommends seeking out the UK’s “used car low price hotspots” in order to get the best deal. Their research shows that the while average price for a used car in London is £10,399, it is just £9,411 in Scotland. And this difference of almost £1,000 is only the average difference, meaning even better deals will be possible.
Once you find the car of your dreams at the price of your dreams, it can be surprisingly simple and affordable to hire a company to deliver it to your front door. The cost of the car delivery will be nothing when offset against your overall savings. Transport companies like AnyVan can help you find the perfect car delivery service to suit your needs, making the process even easier.
Negotiate your car’s price to get a better deal
If searching far-flung car lots is not for you, you may be able to reduce the price of a closer car through negotiation and haggling with the vendor. When David Cameron bought a used Nissan Micra in a publicity stunt last year, he was chastised not just for his transparent attempt to seem like ‘one of the people’ ahead of the Brexit campaign in which the people rejected him, but for his “inexplicable failure to haggle.”
Negotiating for a better deal has become such a huge part of the used car-buying process that several in-depth articles have been written on the practice. Carbuyer.co.uk recommends doing extensive research on the kind of car you want to buy so you can be armed with knowledge that may help you spot a fatal flaw in a car’s condition, lower the price, or that may just help you sound like enough of an expert to better estimate the worth of a car than the car salesperson.
The Telegraph’s James Foxhall recommends using an online value calculator like Cap HPI or Glass’s in order to find the true value of your used car before you begin the haggling process. That way, you will not fall into the trap of thinking a reduction of the asking price represents a good deal (when really the car could have been severely overpriced in the first place).
Buy a broken car and fix it later
Some of the cheapest cars in the world are cars that don’t work. But just as home buyers may sign the deed to a house with the specific intention to remodel it, those acquiring an automobile can save money by buying a broken down or damaged car and fixing it up afterwards.
According to the MVLA, the best broken cars to buy are salvage vehicles—vehicles that have been damaged in an accident, and their owners have decided to buy new cars with their insurance payouts rather than fixing them up.
Non-operational cars like these can be found across the UK, either online, at simple junk yards or used car auctions. Such vehicles can also be delivered by car transport services if they’re miles from your location.
Buying cars and fixing them up like this is seen as a good way to make money as owners can sell the cars straight on for profit. Though if you are in the market for a car yourself, keeping it is a better idea.