There are so many costs associated with buying a vehicle. You have the cost of the machine, then taxes, repairs, day-to-day running, and of course insurance. With so much money being sunk into your vehicle you need to make sure it is the perfect fit for you and your family. It must serve your every need.
Choosing the right vehicle, however, is not the only way to ensure you’re getting value out of your new car. With these tips you can save big on your next vehicle – at the initial purchase and throughout its life.
Think About Running Costs, Not Just Upfront Ones
Upfront costs are the biggest sum you’ll see at once, but they aren’t the costs that are going to pinch your budget. The initial cost can easily be covered by a loan, but ongoing costs like fuel, maintenance, and insurance can easily end up adding up to more than you can pay. Knowing ongoing costs such as these can help you budget for the future. Unless you can pay off your loan as well as the ongoing costs of your vehicle, you need to find a better fit for your budget.
Skip New and Opt for Used
New vehicles come with the flashiest accessories and designs, but they aren’t actually necessary. So long as the vehicle is under five years old and has low mileage on it then you don’t need to waste your money on a brand-new model. By opting for used – not old – you can save big on the initial depreciation any vehicle goes through. The only drawback is that you may not be able to find a vehicle on the day to take home. For best results give your search a month or two. Keep an eye on listings until you find a great used vehicle at a price that’s good for you and your wallet.
Know When You Are Getting a Good Deal
When buying used, you need to know market values. Even for second hand vehicles there is always a going rate for any make and model. Compare these average prices is the best way to determine if you are getting a good deal. Some comparison sites, like Autouncle.co.uk make this process easy – so you always know when you’ve found a great offer.
Know How to Haggle
Successful hagglers are able to walk away. If you cannot refuse a purchase, then your negotiating power is severely limited. It is also important to remember that buying from a private seller is going to be different than buying from a dealership. Know how to haggle in both cases to increase your chances of lowering the price before purchase.
Always Renegotiate Your Insurance Policies
If you have been driving for over ten years and have never had an accident, go and renegotiate your insurance at the next available opportunity. You have proven to be a safe driver. You can use that history to improve your insurance rate and benefits. Don’t be afraid to switch providers – especially if you don’t yet have uninsured or underinsured driver coverage. This, combined with the huge savings both upfront and ongoing, will help cover you financially in all situations.