Quick links:
- I don’t know the first thing about cars! How do I know which one to choose?
It always helps to ask friends for a recommendation, but also think carefully about your needs. Are you driving alone or will you be using the car for your family? Do you need to use the car for extensive travel or just short journeys? How much can you comfortably afford? Don’t just try and build a profile of the car you want – build a profile of yourself too. That will help you find the answers as to which make and model is right for you.
- How can buying a new car online save me money?
The way we buy consumer products is changing and cars are no different. An online dealership does not have the same overheads as a local dealer – and fewer expenses mean more savings for customers. Online dealerships have other advantages too – including more choice as they are not limited to the cars they have in stock.
- I don’t like the idea of buying a car ‘sight unseen’ but want to make savings by buying online. What can I do?
If you’re buying a new car, then buying ‘sight unseen’ is less of a problem because all new models should be more or less the same, dependent on the specification you request. If the online dealership you visit has a showroom you might be able to arrange a visit while still benefiting from the price quoted online.
- Is it possible to buy used cars online?
Yes! There are many online directories for both new and used cars.
- Which websites offer the largest savings?
No motoring website can guarantee that the cars in their listings are the cheapest, but if you use large online directories such as SaveMoneyOnCars.co.uk you have the benefit of comparing a wide range of models and deals to help you secure the most competitive price.
- How can I get hold of my credit rating?
Visit Experian or Equifax to ascertain your credit rating. Remember to do this before making loan applications as every application that is rejected will further harm your credit score.
- My credit rating is poor… what can I do?
The best thing to do is to wait for six months or a year where possible and try to build your credit rating during that period. Be responsible during this period and be sure to make all of your repayments on time. A store card or a credit card that you can pay off in full each month is a good way to start. Stability will also help you build your credit rating – staying with the same employer for more than six months to show you have a reliable income and having a secure address will boost your credit.
- What if I need to buy a car now and don’t have time to build my credit rating?
In this case, see if someone will co-sign on the car with you such as a parent or someone you can rely on. However, in this case you must be especially vigilant with your payments – missing a payment will hurt both your own and the co-signer’s credit rating and the car may be repossessed.
- One car dealer wants to get me a car from another dealer. Should I do this?
Generally speaking this is to be avoided. If the offer from the second dealer is so good, then why not approach them directly? Definitely do not sign anything until you have seen the car and you are happy with it.
- Should I buy a car from a factory through a dealer?
A dealer might offer to order a car from the factory for you if it does not have the specification you require. There is no reason why this should cost a car dealer more as they can order it as part of their weekly buying however, you will be expected to pay a deposit. Limit this where possible and pay by credit/debit card so you can dispute it if the dealer claims that the vehicle price has changed.
- The dealer I wish to buy from has made me an offer for my trade-in car but it seems a little low to me. Should I accept it?
No. You should research a fair price for your current vehicle based on similar models and a fair estimate of its current condition. Stick to this price and don’t allow the dealer to short change you unless the deal they are offering on the new car is exceptional enough to make up for the loss. You can always sell your current car privately and use the cash as a down-payment.
- Can I trade in a car that I still owe money on?
You CAN but it should be avoided. The dealer might not make your payment on time meaning you are left with extra charges. If this is the process you wish to follow, make sure you have written confirmation of when the dealer will pay the bank.
- What is the key to haggling over a price?
Honesty, as the cliché says, is the best policy. Back up your price claims with facts. Research the vehicle you’re going to buy, find quotes from online dealers and make the dealer believe you’re perfectly willing to walk away from his/her offer if it’s not right. However, don’t appear arrogant and don’t lie about the condition of your trade-in. Be up-front and firm and treat the dealer with respect – then they are likely to return the favour.
Hopefully you’re now all set to go in search of the right car for you. Remember that research is the key. Buying a car is probably the second largest financial purchase (behind buying a home) that you will make during your lifetime and it deserves the same forethought and dedication.
Good luck and happy motoring!
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