I’m a motoring expert – here are five money-saving tips that could save you a FORTUNE when buying a new car
A MOTORS expert has shared five money-saving tips that could save you a FORTUNE when buying a new car.
With new and used car prices continuing to rise, drivers are trying to get the best deal available to save money on their new motor.
Research conducted by Bristol Street Motors found that 46% of new drivers don’t know what they’re looking for when buying a new car – from what spec they should choose, to getting the right price.
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Handily, the experts have revealed five tips to help drivers save money on their next car.
Don’t let insurance premiums and repairs catch you out
The cost of buying a car is not just about meeting the asking price.
You also need to sort out insurance for your motor, which can rise to eyewatering annual amounts.
Models with economical engines usually become significantly cheaper to insure than performance models.
Certain brands can only be repaired at specialist shops, so consider that before buying your new motor.
Motors with excessive mileage are less fuel-efficient
Any time you buy a car, you should always consider resale value.
If you find a model that will sell well on the used car market, that is a better money-saving investment than a model that typically struggles to drum up buyers.
Along with the make and model, check the mileage if you’re trying to save money in the long term.
The experts say that the mileage is more than a number – it’s an indicator of the condition of a car.
Bright and bold cars lose value faster than other colours
While it may seem like a trivial choice, picking the perfect paint job for your car impacts the resale value and general maintenance.
Lime greens, burnt oranges and sunshine yellows might speak to your personal tastes, but they are notoriously difficult to sell on the used car market.
That’s because, as a more niche choice, it’s tricky to find willing buyers, forcing you to lower the asking price or wait longer for a suitable offer.
Buy the car that best suits your day-to-day – and bin off the extra features
To save as much money as possible on your purchase, you need to think specifically about how you’re actually going to be using the car rather than how you might use it.
For example, if you need a used car for commuting into a city centre office, you might be better off with a nippy three-door that costs £5,000 rather than a 4×4 on the market for £10,000.
Diesel cars are a more economical choice for regular motorway drivers
When comparing the costs of all the different cars for sale, don’t forget about fuel.
Not only is it the biggest outlay you’ll spend on your car, but these costs differ wildly from model to model.
Typically, diesel cars offer a better fuel economy, although petrol prices per litre are lower than diesel.
This comes back to the point about prioritising the essentials. If you’re only completing short journeys, then opt for a petrol engine, whereas diesel models are more cost-effective for regular long-haul drives.
Plus, a car finance expert shared how to negotiate your next car deal and save thousands of pounds.