Buying the cheapest used car, you can find is seldom the best way of saving money. The lowest-cost cars on the market may mean you need to fork out the smallest sums to purchase them. However, they will often lead to a false economy because you must spend more to keep them on the road. So, if you want to choose the ideal car while saving money, be prepared to spend as much as you can afford.
Another good idea is to buy from a reputable second-hand car dealer. You might think that you will pay more compared to a private seller. However, many good dealerships check their cars and offer warranties; even if they’re relatively limited compared to new models, you won’t get such guarantees with a private sale. Call KAP Motors at 01273 748484 to check out their used cars collection in Brighton as an excellent example of a dealer that provides some buyer protection.
Don’t go with the asking price when making an offer for a used car. Always suggest a reasonable amount that is below what is being asked for. If you don’t, you will never know whether you could have the same car at a lower price. All car sales involve some negotiation. Even if the seller doesn’t drop their price, they might be willing to throw in some extras, such as spare bulbs or a full fuel tank.
Buying a smaller car is often an excellent way to save money. If you are used to driving a saloon car, for example, check out some hatchbacks that are on sale instead. Likewise, compact cars tend to come with a lower price tag than many hatchbacks. By simply lowering your motoring expectations, you can often save thousands. Typically, smaller, lighter cars cost less to run since they need less fuel and, in many cases, are cheaper to insure.
Finally, avoid financing deals if you have the money available. Buying outright without the need for credit – and the associated administration fees and interest charges – is a much better option, even though your bank balance might take a temporary hit. There is a good reason why there are so many second-hand car financing companies around – it is a profitable business. Unless you are currently strapped for cash, try to buy your next car while paying for it in full.