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BUYING A NEW CAR
New Cars Offer Warranties and Finance
One of the good things that come with owning a new vehicle is that the warranty on it is good and long lasting. So, if you run into problems of any kind, you do not have to worry about getting it repaired using money out of your own pocket. Also, some offer routine maintenance which is paid for as well. (Remember to read the Warranty in full) With new you can nearly always get finance and pay monthly. (Depending on your credit rating)
A car warranty will usually cover the following: The brake system, cooling system, electrical system, clutch, gearbox, transmission, steering, ignition and fuel system. More often than not you will probably have to maintain a service schedule with an approved dealer to keep the warranty valid. Don’t forget to keep all the paperwork!
Maintenance and Finance
A new car will generally demand less maintenance. Some of the leading insurance brokers are likely to offer better rates when buying new. Lets be honest a car in mint condition will offer better collateral and is less likely to break down
New Cars Lose Value when you drive them off the Forecourt
Even though a new car may be more valuable than a used car, immediately when you drive away in it your new car loses face value. Thus, the car may be worth a lot initially, but loses value instantly.
New Cars Are More Expensive
One of the bad things about new cars is that they are inevitably more expensive than used cars, for the most part. Thus, if you are looking for a good bargain, you may be better off with a used vehicle. But new cars always look way better.
Going for a test drive in a New Car
Whether you have decided on your particular choice or not, ask if you can take out the vehicle you are after for a test drive. Most dealerships have demonstrator models for customers to try and more than likely you will have to arrange a test drive.
Be sure to ask for the same model or nearest to it, that you have chosen to buy. If possible try to keep the car over night so you are able to give it a decent run and make a better informed choice without the salesperson looking over your shoulder!
Initially your main points should be good all-round visibility and driver comfort.
10 Useful Steps to Buying a New Car
Beginning Your Journey
The following steps are a guide to help you find the specific car that you want. Hopefully at a price that is deemed fair to you and dealer.
Firstly do your research which is the key, and do plenty of it. Include the internet, various magazines and dealers brochures. Of course narrowing your search will always be constrained by a budget and specific options which you feel are necessary. After the homework is done and you have set yourself a target figure this should ease up the process a little.
Buying a car is always a big investment, but it can be both exciting and rewarding. Particularly, if you feel like you’ve got the right car for the right price.
Seeking the Motives and the Rewards
Or car market today is huge and very competitive. The new market especially has some of the best incentives and rebates. Very often manufacturers will provide good deals on their latest models and a trip down the showroom might prove very beneficial as they also have a lot of deals on the models that are not popular sellers.
Apart from the usual ‘money off deals’ or ‘good trade-in deals’, there are also finance incentives like a 0% rate over 12 months or even longer. These are not to be sniffed as it can save you a lot of money. See below. Also watch for Tv Advertising and newspaper promotions as well.
Finally, bear in mind that there are some hidden incentives paid directly to dealers just to push certain types or models of cars.
Buying The Pricing Strategy
The price you see is the price you pay? I don’t think so! Firstly select the right time of the year, perhaps just before the change in registration. They say December can be slack month. The price on the windscreen can always be reduced and also in other forms.
They may offer free road tax, a year’s free insurance, free tank of fuel. All these little things can add up.
For the more adventurous there is always the option of driving onto the continent and choosing a car directly. But there can be lots of paperwork; you might have to pay local VAT, which can be higher than ours. Plus import duty. To reiterate, do your homework especially for this option.
The Right Choice for You
Take a look throughout the car buying advice section. This will provide you with more particulars as to the make, model, fuel type etc. Just food for thought really but try not to be too specific give yourself a range and try to be flexible as this will give you more bargaining power in the long run. Let’s take for example the colour. If it’s too hard to find or maybe too specific you will have lost any leverage as a negotiator.
Keep a record of emails and phone calls; try to keep a written record all the information about each car you locate, ie colour, options and the dealership. This will save you time as you continue the buying process.
Buying Traditional vs The Net
More recently, the car dealerships are now being more creative for car buyers. The traditional method of buying a car was walking onto the forecourt and dealing with car salespeople on a face to face negotiating basis. This is still the most popular because like to see in the flesh (so to speak) and touch what they are buying. Making such a large purchase like a car is something that most people are reluctant to do so remotely.
The internet has provided and helped us with the process of doing the legwork. But just pressing, the ‘click here’ button. Let’s be honest, it can take all the fun out of it.
Try test-driving the salesperson before going forward. Are you comfortable with them? Are they tending to be pushy or impatient? Or are they open or relaxed? Do they respond to your specific needs or are they trying to guide towards another car! If they are patient and straightforward then continue with booking a test drive. If possible try to pick a weekday rather than a weekend.
If happy to buy at this point bring any documents that are relevant ie checkbook, insurance document if applicable. Don’t ever feel obligated to buy, you are the customer.
Trading in your old Car
Firstly consult our ‘Car Selling Advice and Guide’. This will provide hints and tips on how to give your car its curb appeal!
When trading in you will probably get less than if you sell it privately. However, you will have fewer problems with a dealer. They are usually straight to the point and will give you a price straight away. Without the hassle of people turning up when it’s not convenient, tyre kicking and trying to pick out the slightest scratch etc.
Their will always be a little negotiating on what they are prepared to give and as such go to more than one dealer, you might be pleasantly surprised. Use our ‘glasses car guide@ to help you with the pricing. Remember, making that extra effort you spend in getting competitive quotes is far less than, what it might cost to advertise or show the car yourself.
Wheeling and Dealing
Let’s be honest, you want the highest price you can get and want to pay as little as possible. Its human nature isn’t it.
Internet sales people will always discuss prices over the phone. If you can give a detailed and honest description, they in turn will give you a ball park figure. They are instantly able to check the basic details on computer. Some may only disclose the full price of the car and some may try and do a deal over the phone or by email. A word of warning. If you pressure the dealer into cutting his profit, he might try to take it back somewhere else! Remember ‘a good deal’, isn’t just about paying the lowest price but about the total on-the-road cost on a car that meets your needs.
This should help you get a fair deal, but keep your wits about you through the whole process. Even after you and the salesperson agree on a price.
Financing the Deal
Apart the usual, borrow off mum and dad, pinch it off the wife, you are probably going to have to use finance. A few points to ponder –
Determine what you can pay before you start looking. Use the online calculator provided in the finance section.
Decide on the length of the loan. Usually the range is from 3 to 5 years. The repayments will be lower for a longer term loan. Read all agreements carefully, for example is the percentage rate fixed or variable. Do you have to have the amount protected? Zero percent financing is offered, usually for the shorter term loan, but can mean the payments could be higher after the zero percent period has ended.
Don’t forget your extra expenses, the potential fuel expense, maintenance and insurance.
If you sort out your own finance before hand, walking into that dealership then makes you a cash buyer. This might give you more negotiating and bargaining power.
It might also help, to get your own credit report. But also be prepared to have your credit history searched. It can be advantageous.
Sort out the Paperwork.
Go over the paperwork carefully, make sure that what has been said is included, actually is. IE, free road tax. If there is finance agreement, read it carefully so you fully understand the payments, how long, when they are taken and the interest rate throughout the period of the loan.
Check out the warranty, if you not sure about anything just ask. This will ensure both what you know is or isn’t covered. They may have an extended warranty and some people like this option for better peace of mind.
Additional extra’s such as chrome wheels, window tinting, custom floor mats and alarm systems are very nice. But usually these ‘add-ons’ have very little value and can be overpriced. It’s sometimes best to shop around and buy them independently.
Check the full cost of the deal. Check what’s included and what’s not. Check all the numbers and make sure there are no additional charges or fee’s. Buying what is going to be your prize possession is serious and you should understand any documentation involved. Once signed, that’s it; there is no going back unless there is a specified cooling off period.
Additional paperwork: If trading in, other paperwork may include having to sign the transfer details on the logbook to the dealership. Don’t forget, any car history, including MOT.s that you have.
Ready for the Off
Now the dealer is going to present you with your new prize possession. This is your last opportunity to inspect it (be it new or used) before taking ownership. Take a good last look around. Look for scratches in the paint or on the wheels. Any little dents, and, or surface damage. If everything meets with your satisfaction there is only one more thing to do.
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