Insights from the UK and beyond
How to make the most of discount car prices
The motoring industry has been hit hard by the recession (as demonstrated by the cancellation of the 2010 British Motor Show) and consumers have struggled to secure the credit they need to buy a new car. But for those in a position to make a move, there has never been a better time to do a deal.
Car buying website Parker’s has named March 23 as the best car buying day of 2009. Price cuts, stock availability and dealers desperately chasing bonuses make it the optimum time to buy a car before prices on new and used vehicles start to go up again in the summer.
If you are getting revved up at the thought of some of the discount deals on offer, then here are some useful web tools and articles to help you finance and get the best deal on your new set of wheels.
Moneysavingexpert.com highlights the fact that, although you may get your hands on a cheap car, the rate at which it will lose its value is truly frightening. To help you cut costs, it has this guide to researching the best price, how to haggle your way to a further discount and, most importantly, how to finance the deal (including some dealer tricks to watch out for).
Parker’s website is a great source of independent car reviews and has this excellent tool that allows you to search prices of new and used cars. And, of course, you can start searching for your perfect new motor.
There are of course multiple ways to buy a car, from auctions to independent dealers. Times Online’s Buying Guide includes a useful run through of the available options so you can work out which is best for you.
Buying a used car is fraught with risks; one in three cars has a hidden history such as outstanding finance repayments, undeclared damage – it could even be stolen. For a small fee you can research a car’s track record at Autocheck, which could end up saving you big in the long run.
MSN UK Cars has devoted an entire section to beating the credit crunch. The Bangernomics pages are devoted to the science of buying and running a used car for less. They even reckon you can make money on some used cars.
The cost of running a car is often what puts people off buying. To help you save money on things like MOTs, insurance and breakdown cover, check out Auto Trader’s regularly updated page of special motoring offers.