We are often asked, what’s your advice on how to buy a new car?
So we thought we’d share some of our top bits of advice gleaned from decades in the industry and thousands of car deals.
All this experience comes with some advantages, it means we can use insider knowledge to the advantage of our clients.
Here’s a couple of quick tips for you:
- Get some expert advice. Nothing beats real experience, we offer free advice on vehicles and how to structure the finance to suit your situation so you know you’re getting the best possible solution and tax advantages.
- It doesn’t have to be hard work. Let someone else find you the vehicle (new or used), negotiate a great deal and sort out all the details. We can recommend the right vehicle to suit your needs and organise the accessories, fit out, signwriting and even help sell your old vehicle.
- There is no substitute for spending what you can afford. Like most investments, the more you invest the better the return and the longer the vehicle will last you.
- Finance is not forever. If you are buying on HP or using the SmartLease™ option you can always exit the deal at any time by paying what’s owed. Generally speaking if you are more than half way through the term (e.g. 24 months through a 48 month term) then it is financially viable to exit early.
- It is easier to refinance than exit. If you need to upgrade or change your vehicle then it is straightforward and cost effect to get into the new vehicle by refinancing with the same finance provider.
- What’s the best time of year to buy a new car? The best month to buy a new car is usually November, this is the last full month of the year before everything stops for Christmas. The next best time to buy a new car is the last week of any month and especially the last week at the end of the financial quarter, i.e. June, Sept, Dec, March. Car manufacturers want to make their monthly / quarterly / annual targets so you’ll get a great deal and your car will be delivered asap.
And perhaps most importantly: All discounts are not created equal. Don’t be fooled by low interest or 0% finance offers as these are not necessarily the best deal in the market. At Driveline we deal in volume and have substantial manufacturer and dealer discounts on new vehicles which we pass on 100% to our clients. This means you’ll pay less overall across the term of the agreement. We can usually better the low interest offers because they are based on the full RRP of the vehicle.
Interested in finding out more about vehicle leasing? Click on the picture below to download ‘A simple guide to vehicle leasing.’
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