Cars Vehicles

5 things to Do Before Purchasing a Car

Getting a new car can be a really exciting time! But you must make the right choice and get a good deal for your money.

So, with this in mind, the blog below looks at the top 5 things you should consider before you even start shopping for the car you want.

By working out your car finance budget first and also considering the type of car you will need for your requirements, you can save time and money!

Let’s take the stress out of choosing your next car and break down the most important factors to consider first.

1. Work out a budget

No matter if you’re looking to get a car on finance or if you’re buying with cash when it comes to getting a new car, your budget is really important. You should never stretch yourself too thin or sign up for a car finance deal that you won’t be able to pay back.

Your budget for car finance should be realistic and affordable and you can work out how much you could spend on a car by considering your current income and subtracting your expenditure.

Your money left over can then go towards your savings pot for a car or your car finance payments.

2. Running costs

Another cost to factor into your budget for a car is the cost of owning and running a car. Your car will need to be insured, have a valid MOT, and be taxed.

Rates for each of these can vary so it can be worth taking some time to have a look around for the best deals on different car types. You will also then need to factor in the cost of fuel or recharging an electric car.

If you cover many miles per day, you will be more likely to need to refuel more often so it can be a good idea to check out cars that give a high MPG.

Alternatively, if you tend to stick to city driving and short journeys, an electric or hybrid vehicle could be more cost effective.

3. Compare insurance rates

In the UK, every car driven on the roads needs to have a valid insurance policy in place; failing to do so can lead to legal action against you. Car insurance rates can vary depending on factors such as how long you’ve been driving and the type of car you drive.

It can be worth taking some time to compare car insurance rates on different cars within your budget to help save money, especially if you’re on a budget.

Newly qualified drivers also face higher car insurance premiums as they are more likely to have an accident in the first year of driving. So it can be worth shopping around for cars in your budget with low insurance rates.

4. Consider new or used cars

When you’re on a budget you may think that you are limited to second hand cars on finance. However, it would help if you compare both new and used cars that would fit into your budget.

Car finance deals such as PCP allow the driver to pay lower monthly payments as most of the value of the car differs until a final optional payment if you wish to keep the car.

Many PCP deals also come with 0% interest so you could get a brand-new car with similar monthly payments to a used car. PCP deals won’t suit everyone though and if you’re buying with cash, new cars could be way out of your budget.

5. Calculate your mileage

As quickly mentioned above, your mileage is really important, it can affect the type of car you need and also your running costs. It’s long been assumed that diesel cars are the best for high mileage and motorway driving.

Whilst this can be true as many diesel cars give off good MPG, you may be put off by the environmental impact that diesel cars have. The CO2 emissions released by diesel cars are damaging to the planet and due to this, there will be no new diesel or petrol cars manufactured in the UK after 2030.

If you’re after something a little eco-friendlier electric cars or hybrid cars can be a great alternative. It can be worth shopping around for different fuel types that could suit your driving style before you search for cars within your budget.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button