5 tips for buying a new car

If you’ve got your heart set on buying a new set of wheels there are a few things you should consider before you hand over your hard earned cash.

The best times to buy

We all know that the end of the month is a great time to invest in a new car, but there are also certain months that also provide the best bargains too. The end of March, June, September and December are statistically the best months to make a purchase as dealers try and meet their quarterly targets.

Tip: Try to steer clear of forecourts on a weekend. You want the dealer to give you their full attention and you’ll stand a better chance of securing a better deal when haggling.

Set your budget

When you start thinking about buying a new car, it can be tempting to get carried away with looking at the latest high end models. Once you’ve worked out your budget, you’ll be able to explore models within your price range.

TipThe optimal budget for your new car should be no more than 15% of your gross pay.

Consider how you will finance it

Considering your options when it comes to financing your new car will also help with your decision making process. If you are unable to buy your car outright with cash, making a purchase with car finance with the help of Go Car Credit is a great option.

Tip: You’ll get the best deals if you have a good credit score.

Think about what you need from a car

Thinking about what you will use your car for will point you in the direction of your perfect car. For example, if you’ll only be doing town and city driving a car that is small, nippy and easy to park is more useful than a larger 4×4. If you drive long distances, you might want to consider one with greater fuel efficiency.

TipWrite down what you will be using your car for in order of importance.

Invest in a model that holds it value

It’s no secret that as soon as you drive off the forecourt, a new car loses its value, but there are certain models that tend to hold their value better than others. The brands that tend to be the best include Mini, Audi, Fiat and Vauxhall.

Tip: The top brands change on a regular basis, so it’s always worth doing your research.

Finally, it’s important to know your rights when it comes to buying a car and not to feel pressured in to buying something you don’t want or need. Take your time in finding the right model for you and your lifestyle, and have fun taking them out for a test drive!

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