These days, newer car models have upgraded safety features and better tech gizmos than models from 5 years ago. Trading an old car with grimy seats is always an enticing idea.
Countless global and national companies have expanded their vehicle production and operations rapidly. Consumers often face a dilemma when finding the perfect car at this rate.
For most of us, buying a car is the second biggest expense in a lifetime after purchasing a house. So, it is helpful to know what you are negotiating for that car you’re about to sign for.
Let’s have a look at our new car buyers guide with great secret tips that you need to know before finalizing your purchase.
New Car Buying Secret Tips – Must Be Followed
1. Choose the Car based on your purpose
A car buyer may have several reasons when purchasing a vehicle of their preference.
Some require regular a car of average size, which will be easy and smooth for driving to work every day.
Others may be searching for a family car, which lets all the family members get a ride together quickly.
When you have determined the significant characteristics of your preferred vehicle, then choosing one becomes simpler. For example, if storage is a prime concern, only look at cars that offer enough space, not those with lower boot capacity.
2. Consider the models that hold their value
The biggest issue with buying a new vehicle is that they quickly lose their value. So, the amount your car collapses in value over time is usually the highest cost and a key consideration.
Some models shed the money value quicker than others, meaning you will receive less when trying to sell it. If you plan to sell your vehicle after 4-5 years, check this out before looking for a new model.
The website “What Car?” provides a car depreciation calculator to calculate a car model’s annual depreciation rate and how much value it holds. The top ten seem to change regularly, so do your research.
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3. Follow The “What car do I require” checklist
Before looking for the “one,” brainstorm about what you genuinely require from a new vehicle, ask yourself some questions regarding your preferred car.
- What are my essential requirements? – Fuel efficiency or cabin space?
- Is it for inter-city drives or long motorway journeys? – Does it have to cruise at motorway speeds without straining?
- Do I want the vehicle to do anything specific? – Enough room for the family or mileage?
- Do I require ample boot space? – Consider if you need space for things such as a pushchair or sports equipment.
- Which one’s better, petrol or diesel? – The fuel you prefer to use might create a vast difference in the model you choose.
- Do I want to purchase an eco-friendly car? – If yes, a hybrid or electric car could be a choice. They have a high starting price but are usually cheaper to operate.
Write down a list of your essential requirements and go through it.
4. Start researching
Once you figure out what features you need, researching is the next step in finding your ideal car. Take your time in the research part and pay attention to the intricacies of the cars.
Look for cars from various brands that satisfy your wants. If you want an SUV, search for well-known companies that produce vehicles of that category. Determine up to 4 or five choices online. Skim through the user reviews for your selected cars online. They are helpful indications of whether the vehicle performs as advertised.
Instead of understanding each car’s features, assess what they lack. List down the pros and cons of each model to make the choosing process more manageable.
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5. The best time to purchase
Once you have figured out what vehicle to pick, you should find the best deals. One way to reduce costs is to buy at the perfect time.
Dealers usually have targets to reach with bonuses available. Typically, these are based on quarterly sales, making the end of March, June, September, and December a good time to purchase. They have to shift cars, so they will be more open to negotiating and offering some attractive finance packages.
A dealership filled with wannabe buyers is not a good situation for hard bargaining. So, try to avoid weekends or the start of the month right after payday. It may also be worth avoiding new numberplate seasons as well.
6. Determine the total on-road cost of the vehicle
After you have finished your research, you will be better positioned to decide the budgetary requirements for purchasing a car suitable for you.
The on-road price list for a vehicle includes an extensive list of costs such as –
- Mandatory insurance charges
- Lifetime road tax payment
- Dealer handling charges
- State registration charges
Nevertheless, this does not reflect the actual expense of the car. Additional expenses and maintenance costs should also be accounted for. Overspending on a vehicle due to maintenance can strain your finances. It is better to pick a car you can afford to manage for five to ten years after purchase.
High-end cars have higher maintenance costs. So it is crucial to choose according to your spending ability.
7. Focus on the total price, not the payment
From the manufacturer’s website, the MSRP – the manufacturer’s suggested retail price – can be known for the new vehicle you are about to purchase. It is essential to know that nobody pays that price written on the website since it’s negotiable.
When dealing with a sales representative, the conversation quickly swivels from MSRP to monthly payments. While that is often easier to understand and a fast way of mentally budgeting how much can be spent from the paycheque, you are purchasing a car, not a monthly payment. So, try to stick with the critical question – What is the car’s total price, including all the feeds and hidden taxes?
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8. The Cheapest cars to run
You can easily compare the running costs of various models, including those you are planning to purchase on several sites, like Parkers or What Car? Below are some rules to take the cheapest cars home.
- Smaller cars are cheaper to insure – If you plan to save money, go for an inexpensive vehicle to cover. Cars smaller in size tend to be more affordable in terms of insurance than a 4×4.
- Hybrid or electric cars are cheap to run but costlier to buy – Technology is improving every day with modern hybrid models pouring in all shapes and sizes. Part-electric models are great for fuel economy but cost more to buy.
- Manual cars are cheaper than automatic – Switching between gears is time-consuming. While automatics are less hassle, they usually come with a raised price tag.
- Smaller engines might be cheaper – A bigger engine will burn more fuel than a smaller one. So, engine size is essential if fuel economy is necessary for your choices.
9. Look for free car accessories
After purchasing the vehicle, many car dealers provide some necessary accessories free of cost. To maximize your benefits from car dealers, notice if they offer car accessories for free.
Accessories include floor mats, seat cover, battery chargers, jack, number plate, alloy wheels, and toolkit. The brands sometimes provide these for free after purchasing a brand-new vehicle.
10. Take the car for test drives
Taking the car out for test drives is a great way to judge whether the vehicle you have selected is the best one for you. Schedule an appointment with the car dealer and before getting in the car, make a list of features and advancements you require. Look for those in the car and judge for yourself.
Avoid purchasing a car the same day you take it on a test drive. Maybe there are better cars in the market than the one you took out on a test drive. Also, it is wise to bring someone along to keep you focused and not get carried away by other fancy cars, which would probably strain your wallet.
Check the comfortability of the car and how you fit in the driver’s or passenger’s seat. Take a good look around the car for scratches or signs of rust, even for new vehicles.
Bring your driver’s license with you and take the car out on a spin. It is better to drive the vehicle on rough roads or railroad tracks to judge how bumpy the car ride can get.
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