For many of us getting our drivers licence, after taking the time, energy and money for lessons, and practice drives, is a rite of passage. As in certain parts of he country, not everyone drives.
Driving and not needing public transport is a very liberating experience, and gives us more freedom in our travels, and where we may want to travel.
No waiting for the bus or the train, we can just get into the car and go.
Which brings up another aspect of freedom of driving, and also a slight bump in the road, so to speak, having your own car.
Having your drivers licence is great, but having your own car to drive is even better.
How we drive, and how we buy cars has changed and is still changing, and is looking to change even more in the near future.
Between being able to use a mobile app and hail a taxi to your door, car hire, and the fact self-driving, autonomous cars are here, and will soon be on our roadways, car ownership seems to be fading with each new generation.
However for now, that day has yet to come, and as a nation, we still like our cars and driving them.
Which again raises the question, we need to buy a car, how can we save money on buying one?
So some ways and tips to save buying a car, not an all inclusive list, but some tried and proven ways to save.
Choose the Right Car
Buying a car can be for many an emotional experience, it is also can be a costly one.
Our emotions run high as we as humans have a love affair with cars. We see a car we really like and want it, and just like all love affairs, it may not be the right one or car for us.
The differences in price alone is enough to make you think twice, or three times.
Even if you could afford £50,000 for a car, it is difficult to justify that kind of money.
You need to buy the right car for you, and your needs.
If you just need a car to take you to and from work, consider a small runabout, if you need to do school runs with kids, then a sedan.
As we will see, the type of car you buy will have longer financial implications as well.
Do Your Research
The kind of car you buy as mentioned can have long-term financial implications, such as the cost of insurance, petrol, maintenance, road tax, etc.
If you live in a city or area where parking is at a premium, you may also have parking charges to pay on a regular basis.
When you find the make and model car you wish to purchase, do the research, find out how much the insurance is going to be annually, what are the average maintenance costs, fuel mileage, how much is it going to cost you to operate the car.
This not only may open your eyes as to the true expense of owning a car, but also aid in determining what car it is you will end up buying.
Buy Used or Previously Loved
Cars as mentioned and as we know, can be expensive, especially new cars. A new car can lose 25% or more of its value as soon as you drive it off the dealership’s lot.
So buy a used or pre-loved car. A car that is a few years old, or maybe last year’s model.
You can save thousands of pounds by avoiding a brand new car, and buying one a few years old. The savings can be massive.
Secure Financing in Advance
In buying a new car, and especially a used car if you purchase the car from a private seller, you should secure your financing in advance.
Buying a car from a private seller is another way to save money, however, most private sellers are going to want you to pay in cash, bank transfer. They are not going to finance the car, and may not want to wait around while you get financing.
And while having a dealership shop around for financing for you can be a way to save in some instances, if you have your financing in place prior to shopping for the car, you are like a cash buyer. You have a stronger negotiation standpoint.
Even if you have bad credit, you can still secure car financing before you go car shopping.
In fact the first port of call in buying a car should be getting your financing approved. This way you know exactly how much you have to spend on a car. No disappointments when shopping for a car, finding the car you want, only to find out it is outside of what you can be approved for in financing.
There are times in the year when dealerships look to move more cars, this can be based on a dealer looking to clear out cars for next year’s models, usually in September or October.
Some dealerships have quarterly sales to move cars, end of March, June, September, and December.
And some manufacturers offer incentives and sales on certain models at various times.
Timing when you shop and buy can save you as well.
So just a few ways and tips to save money on buying a car.