If you are looking to purchase a new car there are many things you should take into account. In this guide we look at what to look for, how to get the best deal and how to make sure you come away with a great car at a great price when agreeing a deal on a brand new motor.
Buying a new car is a serious matter and much like buying a house, it’s an investment – not something you should decide on a whim.
When parting with large sums of money, it’s always important to take your time and make the right decision. So buying a car is definitely something that should be thought long and hard about. Considering all the options is important, not just what car to choose but how you are going to afford the payments and whether the deal is right for you. So with that in mind, what are the things you should be looking at when buying a new vehicle?
Is a new car the right choice?
It’s without doubt the more expensive option, not just the initial cost but generally a new car will lose up to 20% of its value the moment you drive it off the forecourt. Future resale value is something you should also take into account when buying a new car and much like anything, there will be some cars that hold their value more than others.
The future resale value of your new car (should you decide to buy new) is something that you can estimate by looking at second hand prices to get an idea of what you might get for yours a few years down the line.
There are more options than you might think when buying a new car. For example, pre-registered or nearly new cars are all but brand new, usually with very low mileage. These cars are registered in bulk by dealerships in order to cut cost per unit, this saving is then passed on to the customer and you are still able to benefit from a manufacturer’s warranty.
Be sure about what you want
It is vitally important to do your research before heading to a dealership, and with the countless comparison and vehicle review sites you really have no excuse. Work out what you need from your new car i.e. mileage, size etc.
Size is always going to be important if you have a big family, but with a bigger car usually comes a bigger price tag – and that’s before you look at insurance and the cost of running it. Practically, how big does it need to be? Boot space, seats etc. Remember, it will need to fit in your garage!
How you intend to use the car will have an impact on your decision too, your annual mileage could mean that you need a car that is fuel efficient as well as comfortable to drive. There are many websites you can use to gage the running costs of your prospective vehicle and its fuel economy.
The cost of insurance should play a big part too, as many vehicles will have a much higher premium than others. Insurance and tax is a lot less for smaller, more fuel efficient and environmentally friendly vehicles and so it gives you something to think about. You can usually get insurance quotes from many companies before you even buy the car, this will give you an idea of how much it could potentially cost you.
If you can, it’s always a good idea to come up with a shortlist of cars that you want to look at and even test drive. You don’t want to pin your hopes on one car, and end up paying over the odds because you are unwilling to look at anything else.
Manufacturer’s warranties are something that varies across the board too, and where some give five years, some give just two. Read reviews, and visit discussion forums to get an idea about reliability and after sales service.
Test drive, test drive and test drive
Once you have come up with a shortlist, it is important to try and test drive as many as you can. It’s a big decision and you want to make sure it’s the right one for you; you want to buy a car that you enjoy driving, a car that is comfortable, and one that ticks all the right boxes (the only way of doing that is to test them for yourself).
It’s definitely worth taking your time during a test drive, and test more than one car to really get to grips with how the different models operate. A quick spin around the block isn’t going to give you enough of a feel for the car and whether it’s the right choice for you. It is best to test different roads, and if you regularly travel long distances then you should consider a longer test drive using motorways, dual carriages etc.
Take your time to decide
Don’t be afraid to go away and look at your options before agreeing a deal, you shouldn’t feel pressured into a decision. Choosing your new car should be something that you spend time researching, and not just the price but the whole package.
It can be very easy to get carried away when looking to buy a car, which is why you should take away all the information you need and take your time when coming to a final decision. You are not at any stage obliged to sign anything until you feel like that particular car is the one for you.
Look at service and after sales care
Buying a car is a long term thing, and although your rose tinted glasses might leave you thinking nothing could ever go wrong with your new car, it’s not always the case. With this in mind it is always a good thing if you can take a look at the service you might receive should you need repairs, or just for regular servicing and MOT. You could even be able to negotiate a good price for a lifetime guarantee with the dealership from which you purchase your car.
The level of after sales care from a dealership is very important as it will be these people who you will be dealing with should anything go wrong. It’s always recommended that you speak to people who have experience this first hand to gage the level of service you would receive from the company.
Finance options
Some finance deals can help you spread the payment, sometimes 0% isn’t always the best option as this can always change. Look at the long term and how much the loan will cost over the course of the repayments before making a decision.
Although at first it may seem daunting, there are many finance options available to suit all situations. All you have to do is decide which kind of payment plan you would like, whether it is a loan, lease, hire purchase or personal contract purchase and then the provider who best suits your needs.
Enjoy – after all it’s a new car!
Try to enjoy the experience. Buying a new car can be stressful, but it can also be fun and so it should be. Provided you have done your research and have stuck to your target in finding a car that suits your needs as well as your budget, you should be extremely happy with your new purchase. To look at buying a new car visit Stoneacre.co.uk for the latest deals.