Few things are more exciting than purchasing a new car. That first test drive, the smooth acceleration, the slick gear changes – not to mention that distinctive smell. It’s a time of eager anticipation, and while it can be easy to get carried away by the thought of your new wheels, buying a car is a major purchase and careful consideration should be taken.
If you rush into a decision, you might live to regret it further down the line. With so many factors to take into account – many of them financial – it makes sense to do everything you can to protect yourself before you make a move to a new motor. Here are a few ways you can do that.
Do your research
Before you head down to the dealership, take the time to scour the market and evaluate all your options. Don’t be tempted to only look at the same make and model as last time – it might be that there are much better deals on vehicles that offer similar features. Read reviews from the likes of Top Gear and What Car? and see what the experts have to say before you take the plunge.
Pick the right policy
When it comes to being roadworthy, taking out car insurance is a legal obligation. The minimum level of cover is third party, which will only protect you for any damage to another person, vehicle animal or property. At the other end of the scale is a comprehensive policy, which also covers you for theft, fire and any damage to your own car to save your car engine get the best information on how to cleaning a car engine. Contrary to what some people think, this type of policy typically works out cheaper than third party, and it can offer that all-important peace of mind to know that you’re fully protected.
Take out an extended warranty
Most new models come with a manufacturer’s warranty, which usually lasts for three years or until a certain number of miles have been covered. They are there to protect you if your vehicle suffers an unforeseen breakdown, but when that initial period of cover expires, you could be hit with a hefty repair bill if something were to go wrong. In that instance, it makes sense to protect yourself with an extended warranty so that you can continue to take to the road in complete confidence.
Go electric
Data from the Society of Motor Manufacturers and Traders reveals that registrations of battery electric vehicles for 2021 is up nearly 50% on the previous year. There is an increasing focus on low- and zero-emission vehicles, with the UK government offering a £2,500 discount off the sale price as an incentive. With the sale of new petrol and diesel vehicles set to be banned by 2030, you could be future-proofing your purchase by getting ahead of the curve and going green now.
Find the right finance
Many dealers will offer in-house financing, which can seem appealing as it offers the chance to get everything tied up in one visit. But the reality is you can often find better deals from other providers. It’s important you make sure you understand all the ins and outs of car finance – including the differences between leasing, hire purchase and personal contract purchase. If you can figure out which method works for you, and shop around to find the best deal, you’ll be saving a pretty penny and protecting your finances.
