Best Way to Buy a New New Car?

st999

I have decided to buy myself a new car costing about £15,000 since my cruise has been cancelled.
I have the cash but would there be any advantage in buying the car using some type of credit?

AdrianC

Maybe.

Some manufacturers and dealers offer better discounts for finance, because they're looking at the income from the finance interest as well as the (minimal) margin on the sale itself. You can, of course, cancel the finance in the 14 day cooling off period, retaining any discount - but some incentives may be ongoing (such as service plans).

DrEskimo

Go on CarWow and see what the highest level of discount is for your car. Compare that with other brokers like OrangeWheels, Coast2Coast and Broadspeed.

Sometimes, the manufacturer will offer additional deposit contributions and perks like free servicing if you take their finance. You can do this, then settle the finance soon after to get the lower price/perks and not pay much interest.

It's worth seeing what nearly new or used cars go for. If they are even cheaper, then it's a case of weighing up what the tangible benefits are for buying new over used and whether the additional outlay justify them. IMHO, a slightly used car at significantly less money is generally undistinguishable from a new one (often used can actually come better equipped with extras...), and the saving in price (and ultimately depreciation costs) more than out weight the costs associated with extended warranties.

treeroy

You can get £1000s off of the RRP if you choose finance, but the trade off is there may be interest. I would figure out what car you want and get some quotes from dealers so you can look at the finance options yourself and see which is cheaper.

If you settle on cash then I would agree with the poster above ^ and go for a nearly-new, 6 month old car / car on the previous reg (69 plate). You will get the full value of the warranty and the other perks of having a brand new car, but save a lot of money and  could buy a higher spec car or a better model altogether for your budget.

for ex. , £15,000 will just about get you a boggo spec no-options Fiesta brand new. the same money will buy you a nearly-new top spec Focus.