It’s the New Year, which means lots of readers will want a new car. There’s nothing better than driving around in a whip which makes the neighbours jealous. Not only is it good for the street cred, but it makes you feel like you’re on top of the world. Going out and splashing the cash on a motor is a big deal, though, and something every buyer has to take seriously. Cars are expensive and have a tendency to break down, which can cost the average person a fortune.
Buckle up people because here are a few things to consider which will stop that from happening.
The majority of cars lose between 50% and 60% of their value within three years according to Whatcar? So, as an investment, a new motor isn’t high on the list. Obviously, you need a car to get around, which is why depreciation is a sticky subject. For new cars, always research the overall cost of the decline before signing on the dotted line. There are online calculators which can help, but the best trick is to find a second-hand model and check the price. Speaking of used cars, buying one is a great way to avoid losing money.
Manufacturers and dealerships try to throw in as many accessories as possible to bump up the price. The first thing to do is figure out which ones are necessary and which are pointless. An example is heated seats versus a heated windscreen. Hot chairs are a luxury no one needs, whereas a self-warming windshield is essential in the winter. Next, it’s vital to figure out how to cut the cost of the necessary accessories. Will the dealership charge you for delivery? Check out Shiply reviews instead and find a cheap courier or pick it up from the garage. Remember that where there is a will, there is a way.
Tesla is making massive advancements in electric car technology. At the moment, the price of an eco-friendly model is high and unappealing. However, they are set to lower in the not-too-distant future, which will make them accessible. Plus, these models are cost-effective at the moment when you consider them as a long-term purchase. Electric cars are thought to last longer, not depreciate as much, cut out the cost of petrol and break down expenses. A fully electric vehicle might be too expensive, but there are hybrids such as the Toyota Prius.
Every car needs insurance otherwise it isn’t road legal. The bad news is that a policy will bump up the running cost of a new motor. Thankfully, reducing insurance costs is straightforward with help from Compare the Market. In fact, every car comparison website can find you a better deal on your current policy. Just make sure you are truthful and don’t lie or else the agreement might be void. If this happens, you will have to pick up the cheque.
A new car will cost a lot of money regardless. Still, there’s no reason to overpay thanks to the advice above.