Your current car is old, and it’s time to buy a new car. Buying a new car can be a significant expense, and like any motorist, you want to get the best deal. Knowledge is power, so this advice should boost your confidence when approaching any dealer when buying a new car. Here are a few tips to consider when buying a new car. 1
Which car should you choose
This all depends on your needs. Before you start shopping for a new car, do your research to determine the make and model that best fits your needs and budget. For example, you may require a more spacious car to cater for a larger family or a highly fuel-efficient vehicle for going to work. After finalising your requirements, start to list those cars in the marketplace that are the most suitable for you.1
Which new vehicle can you afford?
An informed decision is the best, so go online and consult articles and expert reviews on new cars. Compare prices and features of different cars and read reviews to get an idea of what other customers have experienced.1
Monthly repayments to the bank
What will the monthly repayments be if a bank is to finance your car? Find out which bank will provide you with the lowest interest rate. It’s best to pay off the loan over a shorter period as you’ll save on interest.1
What about car insurance?
Another cost is obtaining comprehensive car insurance, a legal requirement when buying new cars. Go online and get quotes from different well-known car insurers based on your driver profile.1
What is the car’s running costs?
Establish your new car’s monthly running costs. The fuel consumption figure provided by the manufacturer is only an estimate. Besides this, you must also include service and repair costs in your budget. Find out the car’s running costs from family or friends with a similar car.1
Locating your new car
A quick and easy way is to go online and start searching at reputable dealerships for your new car.1
Look out for promotions
If you are not in a great hurry to buy a new car, wait for the next promotion offered by a dealership. Having to achieve a specific number of car sales yearly, car dealerships may want to reduce vehicle prices during quiet months. So, getting the right price is all about your timing.1
Make different visits to dealerships. Try to separate shopping days from potential buying days to maintain a sharp focus.1
Taking cars for test drives
When shopping, carefully examine each car, and go for test drives. Ask the salesperson about maintenance costs and after-sales support.1
Negotiating that final deal
On other days, you can visit dealerships to negotiate a great deal. Keep a look out if “your” car is on the dealership floor. This is because dealerships are most keen to sell those cars on the floor to avoid daily floor costs. Make sure you ask all the right questions about the upcoming deal.1
Disclaimer
The purpose of this article is to show you how to save money when buying a new car.1
When it comes to buying affordable car insurance for your new car, contact us at Prime South Africa. Learn more about our comprehensive car insurance based on our world-class experience and excellent benefits such as fixed premiums* and a reduce to zero excess*. Ts and Cs apply.
If you wish to purchase a financial sales product, first obtain professional advice from a certified financial advisor.
Sources:
