Advice for middle-aged first time car buyer

Radish2504

Hi. This is my first ever post on here. I'm looking for some advice re: buying a car. Despite being almost 50 years old, I'm about to buy my first vehicle. I passed my test at 19 yrs old, moved to London about 2 months afterwards and stayed in the city for close to 30 years - never having or really needing a car during that period. Now I've moved back up to a semi-rural location and need to be able to drive. I've been having refresher lessons over the past few months, but I just need to bite the bullet and get a car.

I've looked at various HP, PCP and personal loan options (because I was originally thinking of buying a new car) but on reflection I've decided to buy a used car outright as I do have the funds to do so. I appreciate many people think I should just get an old banger as I'm essentially a 'new driver', but I want to buy a fairly new car (2-3yrs old) as I'm a slightly anxious driver and want something modern, safe and reliable, that will see me through maybe the next ten years.

I've been saving for this purpose for around 3 years, and now have an absolute maximum budget of £10k but would prefer to spend a bit less. After months of research I've narrowed down the car I want, and am going to see one that looks suitable this weekend. It's a 2015 model listed at £10,995 and it's an approved used car through a main dealer. Comes with a one-year warranty.

Does anyone have any advice for me? I've been told that as someone who isn't part-exchanging, who intends to buy the car outright, and is not interested in any "extras", I am basically the most unappealing type of customer for the dealer. What is the likelihood I'll be able to haggle, do you think? And on what basis? What would be considered a 'reasonable' discount on that kind of list price? Are there any pitfalls I should be aware of due to my inexperience? I'm completely green so would appreciate your thoughts. Many thanks.

Mercdriver

You've neglected to tell us the model you want or the one you've seen advertised...

BeenThroughItAll

Take the dealer's finance, then pay it off shortly after. It'll cost you a little bit of interest, but the dealer will discount far more if you're taking their funding method than they will if you walk in waving a bunch of tenners.

Nobbie1967

Why not just take a look around a local 'car supermarket' type place. Keen prices and usually little haggling room. I think most cars have at least three years manufacturers warranty nowadays, so just need to check they have been serviced within time/mileage spec.

Aylesbury_Duck

As someone else said, you need to give us the type/model of car you're looking at/for.

If it were me, I'd be looking to spend well within that budget. My last two purchases were large family hatchbacks (Toyota Avensis) from a Toyota dealer. One was five years old at £4,500 the other £6,000 for a three-year old car. Both with sensible mileage for their age (10-15k p.a.), both serviced according to schedule and both with one year's Toyota-assured warranty or whatever it's called. They've both been trouble- and cost-free beyond wearable items. Not the most inspiring cars but like you, I just wanted something safe, reliable and economical and they've both been that. The older Avensis has just ticked over the 126k mileage mark and the younger one 105k.

Radish2504

Sorry - it's a Yaris hybrid; also considering the Jazz hybrid. (I know hybrids are more expensive and am happy to accept that.) The one I'm looking at has done 30k miles. I ran it through AutoTrader valuation thing and it's slap-bang in the middle of their range.

Interesting point about getting finance and then paying it back early. I wonder if the extra negotiated discount would make up for whatever early settlement fees have to be paid. Will look into it. Thanks for that tip.

jellie

Radish2504 wrote: »

Interesting point about getting finance and then paying it back early. I wonder if the extra negotiated discount would make up for whatever early settlement fees have to be paid. Will look into it. Thanks for that tip.

You don't settle - you cancel the finance agreement, which you have the right to do within the first 14 days. You must cancel it within the first 14 days and all you'll have to pay extra is a little bit of interest for the few days you've had the loan.