Tips To Save Money When Buying Your Next Vehicle

It is important to take your time when purchasing a vehicle, as it is usually one of the most expensive investments you will make. Therefore, you want to ensure you make the best choice at the most attractive price.

Find the best deal on your next car by following these tips from new and used car dealership Motorparks:

Conduct your research in advance

Before you head to your local dealership, carry out some research to determine the type of vehicle that will suit you.

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To do this, determine what you want from a vehicle by answering the following questions:

  1. Is a fuel-efficient car more important to you or a vehicle that is spacious enough to accommodate your entire family comfortably?
  2. Do you want your vehicle to be powered by petrol, diesel, electric, hydrogen or even be a hybrid?
  3. Is a large boot a vital feature for you? If you will be transporting a pushchair, wheelchair or sports equipment on a regular basis, the answer will be yes.
  4. Are you going to be using your vehicle for short commutes in the city or longer trips along the motorway and out in the countryside?
  5. Are there any specific requirements that your vehicle will need to meet? Perhaps it will need to be used to tow a caravan or trailer, or have to fit into a small parking space.

From here, it’s also wise to work out how much a vehicle is going to cost you both upfront and on a day-to-day basis.

Check out this Motoring Costs Calculator from Motorparks, for example, and you’ll be able to determine:

  • How much you will be expected to pay to fill a vehicle’s tank up.
  • How much the average insurance premium will be for the vehicle you have in mind.
  • How much you will need to fork out on breakdown cover for your vehicle.

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Make the decision between buying new or used

It can be very tempting to purchase a brand-new vehicle and make it yours exclusively.

However, these figures may give you food for thought about buying a car used or at least nearly-new:

  • The average list price for a new car is around £28,500.
  • Once the car is a year old and has been driven for 10,000 miles, its price will have dropped to £21,000.
  • Over 12 months, the price for the new car will have fallen by £7,500; more than 27 per cent.
  • In the second year of its existence though, the depreciation rate of an average new car will be around £3,750.

If you still wish to purchase your vehicle brand-new, be sure to take the time to study the deprecation value of all vehicles which appeal to you.

This What Car? study, for instance, has highlighted that a Dacia Duster which has 36,000 miles on the clock was able to retain 56.39 per cent of its value. In comparison, a Jeep Cherokee which covered the same distance retained only 19.39 per cent of its value.

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