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Ways you can save money when buying a used car

Vehicle condition remains key in strong wholesale market

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25 February 2021

A car is among the most significant single items we purchase in our lives. It’s important, therefore, that we use every possible lever to get the price down. Fortunately, there are plenty of levers for us to reach for in our search for the best possible deal. If it makes the difference between hundreds, or even thousands, of pounds in discount, then investing the time and energy in researching those strategies is worthwhile. Let’s take a look at a few of the more important of them.

Buying in Person

If you’re turning up in person, then you’ll have the natural advantage of asking direct questions to the person from whom you’re buying. It’s impossible for them to ghost you if you’re standing right next to them, so don’t be afraid to make offers and ask for discounts. Those who negotiate are likely to be rewarded, if polling is to be believed.

Before going into a face-to-face meeting, you’ll want to have done your homework. Know exactly what the model is worth, and how that price might be affected by mileage. Always test-drive the car before you seal the deal, and make sure that you conduct a thorough inspection, inside and out. It might be that you uncover a deal-breaking defect; more likely, you’ll stumble upon something that can give you more leverage.

Buying Online

When looking at the range of used cars for sale online, there are a few factors that might save you money. You might shop around more easily, and without the hassle of driving to different dealerships. Similarly, you’ll be able to conduct negotiations simultaneously with several different sellers, and give yourself the best possible chance of securing a bargain.

With all of that said, there’s greater scope for deception and sneaky tactics when you’re buying online. Don’t get stung, and never send money before you have the car. If a deal seems too good to be true, then it probably is. The safety of shopping with an approved dealer is often worth the premium they’ll charge you.

Pay attention to the various models of cars, and when they’re due a facelift. If you decide to go for an earlier release of the same model, then you might effectively be paying for the same car – albeit one with a slightly higher mileage.

If you can afford to buy the car in a single lump sum payment, then it’s often worth doing so. This will mean that you avoid having to make interest payments. However, for many motorists, the cost of interest is vastly outweighed by the extra fuel efficiency and convenience that might come with an upgrade. Look at the car’s emissions, and its true MPG. If financing will get you quicker access to lowered bills, then it’s probably worthwhile.

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Business Motorting

Business Motorting

​Business Motoring is the motoring resource for small businesses and SME small fleets running company cars and business cars.

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