Cheapest Way To Buy A New Car

Dan_Morgan

I couldnt think what board to post this on, so if any mods want to move it to a more suitable one then please do.

Right...My parents are looking to buy a new car, in the past they have always paid the full amount in cash. I was wondering if there is a way to make the car "cheaper"

They will be spending between £25k and £30k. Would it be cheaper to get a loan and leave the money in a high interest account or are there any lease arrangments where they can replace the car every 2 years etc.

I dont really know what questions to ask as i'm unaware if there are any cheaper ways to buy a car.

Many Thanks

Dan

Dan_Morgan

Anybody? :-[

Martinslovechild

Try speaking to the dealer or checking out the website of the car manufacturer. Sometimes, they offer deals whereby you put down a 50% deposit then pay the remainder at 0% over 24 months for instance. You could then drop the other 50% into a high interest savings account and simply withdraw the monthly repayments directly from there each month.

It's probably unlikely that they'll give you a cash discount given that they tend to make a fair whack from selling loans.

Additionally, if they really won't give any discount whatsoever, it's always worth getting them to chuck some freebies in. A tank of petrol, 12 months road tax, free insurance, mats, stereo upgrade. It really comes down to the car - you haven't specified. I would suggest that freebies or a discount are highly likely on a Rover but impossible on a Nissan 350Z.

Additionally, do some price searches on car web sites, e.g. JamJar, Virgin Cars etc. At least your Dad will be walking into the dealers with some price comparisons to know what he should be paying.

Good luck.

stuwilky

The easiest way to save money is to haggle over the price to pay, often you can knock several grand off the price. Then there is the 'extras' - tank of petrol, car mats, free servicing for x years..... whatever takes you fancy.

(I talked Ford into 1600 discount and free extras worth 800 - and free insurance, on car that was originally £10k.

It pays to take out their credit deals, generally the dealer gets a 'kick back' from the finance deal - usually buying towards the end of the month can help - there is usually signifcant bonus' for selling x amount of finance deals - giving you a 1k discount to take the car could net the dealer upwards of £250k.

Haggle over the finance deal, 0% is often available or if not then very low interest deals (on the deal above i only managed 2.9% though )

There are some very good magazines knocking about that detail what you should be looking to achieve on each model. Worth the five or six quid they cost!

vansboy

http://honestjohn.co.uk all things motoring

Depending on the car they want will dictate what sort of 'deal' you'll do.

Some will NOT discount the car, but load it with extras.

Others will offer cheap lease/finance deals.

You 'll find some keen to get you into their brand & give an over allowance on a competitors make.

It aint easy!!

Give us a bit more info on what they fancy & ypou'll have more help!!

VB

nh

We are currently in the process of buying a Toyota Avensis T-3X D4D (list price £17,300) for £14,800 from https://www.newcardiscount.com. I have found them to be the cheapest for that particular model.

Incidentally, we are financing it via 3.9% life-of-balance credit cards from Texaco.

A good way to save money is to buy pre-registered cars. They have 0 miles on the clock and will be cheaper. May affect the resale value though.

It depends how long your folks are thinking of keeping the car for.

MarkyMarkD

Forget any of the deals a dealer will offer you, such as "low-rate finance" or "0%".

Get the car either nearly new from a car supermarket, or brand new from a broker, gaining a huge discount in both cases.

Then pay cash, preferably obtained from a 0% credit card or loan.

Martinslovechild

http://honestjohn.co.uk  all things motoring

This link doesn't seem to work Vansboy - it's coming up as the default server page for Khoo Systems Ltd ???

nh

Try this

http://www.honestjohn.co.uk/home/index.htm

Dan_Morgan

Hi guys some good advice there, cheers.

They are looking at buying a 1/2 year old Mercedes C class deisel. The depreation is too much on brand new cars, unless there is a way of cheaply having a new car and changing it every year through some kind of lease deal?

MarkyMarkD

There really aren't such fantasy lease deals which enable you to have a new car all the time but still avoid depreciation - unless you work for the manufacturer.