You are here: Home - Household Bills - How to - News -

How to get the best deal on a nearly new car

0
Written by: Paloma Kubiak
30/08/2017
With new car registrations coming into the market this week, drivers may be able to buy a nearly-new or used car at a discount price. Here are the top tips to bag a bargain.

March and September tend to be busy times for car showrooms as new car registrations come out on the first day of those months. We’ve already had the ‘17’ plate and drivers are now gearing up for the ‘67’ plate.

Simon Benson, director of motoring services at used car website AA Cars, said the arrival of new car registrations presents a great opportunity to pick up a nearly-new or used car at a reduced price.

“For every new car sold, more than three used cars change hands too so there are bargains to be had. In September dealers are keen to free up their forecourts to accommodate an influx of new stock so are often willing to part with ’17’ plates, for example, at a fraction of the price,” Benson said.

He added that a lot of the cars bought in September will be done so through part-exchange deals, which means that dealers will often have a glut of second hand stock allowing drivers to barter a good deal.

Further, given the regulatory changes on the horizon regarding diesel cars, it’s likely there will be diesel deals to be had. “If you’re looking to do high mileage, this might be the perfect opportunity to drive away with a bargain,” he said.

Another trick is to shop on a Friday as dealerships tend to be quieter, meaning salespeople will be more attentive and keen to move stock.

When it comes to the art of negotiating, it pays to have done your research. Benson said: “Shop around online and get a gauge for how much similar models and ages are going for – this will give you more leverage when haggling down a car’s cost.”

Buyers also need to think carefully about how they pay for the car. Benson explained: “Personal Contract Plans (or PCPs) have never been more popular because while they are complex, they provide an easy means of budgeting with affordable monthly payments. But, at the end of the term, you are likely to have to hand the car back unless you pay a final ‘balloon’ payment representing the residual value of the car; or you can start a new agreement.”

See YourMoney.com’s Buying a new car? The finance options explained for more information.

Paying from savings remains the most popular way of paying for a car, Benson said, and there are some competitive rates for personal loans, too. “You need to think carefully about how you pay for your car and make sure you compare offers from the dealer with the wider market,” he said.

However, if you are a cash buyer, keep this under wrap until you’ve negotiated a better price on a car. The salesperson may think you’re going to get a finance package which is why they may be willing to come down on the price, but you can turn it down later in the process.

If they’re playing hardball by refusing to go down on the price, you could always ask for free extras, such as a sunroof, tank of petrol or vehicle excise duty; if you don’t ask, you don’t get.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Habito
Home sellers warned of extra costs when using online estate agents

Property sellers are warned to be aware of unexpected extras when using online estate agents.

Close