From Zero To.....

We all know that times have been difficult economically over the last few years. This has had a significant impact on many families and businesses as well. One industry which has been particularly hard hit has been the motor trade. Car dealers up and down the country have found themselves with surplus stock which they struggle to dispose of. While this is bad news for car dealers, it could turn out to be anything but for consumers. Now, with careful research and a bit of planning, it’s possible to land the car of your dreams at a significant discount on what you may have expected to pay before.

The following are our top five tips to securing the best possible deal on that new car:

Make sure your credit is in good shape

Now, if you are lucky enough to be a cash buyer, you can skip this part and move on to the next tip. If, however, like the majority of folk you are looking to finance your car purchase at least in part with a loan or other form of finance, then it’s essential that your credit report is in good shape. If necessary, plan your purchase a few months in advance to give you some time to “tidy” your credit file up. That means not taking on any additional, expensive credit such as a payday loan or credit cards and making sure any agreements you currently have are paid up to date and on time.

Get finance from a dealer

If you do not have the time or the inclination to scour the marketplace for the best possible deal then you could fund your purchase with a credit facility organised by the car dealership. You may occasionally find that a particular manufacturer has a special rate available on certain models for a limited time. These are often at rates – sometimes even as low as zero per cent interest – that would be difficult to beat elsewhere.

Lease your vehicle

Rather than buying your next car why not consider contract hire or leasing? With contract hire or leasing you do not actually own the vehicle in question, which is returned to the finance company at the end of the agreement. The upside however is that compared with more traditional hire purchase, the monthly costs are often considerably lower, mainly because you are really only paying up the cost by which the car depreciates over the term

Choose a second hand model

Given that most dealers have surplus stock on their hands at the present time you might find that you can pick up a real bargain by buying a second hand car rather than a brand new vehicle. It might even be possible to pick up a perfectly decent model for just a few hundred pounds if you check on sites such as Gumtree. For a little more, you should have no difficulty finding a reliable second hand car from a local dealer.

Be prepared to walk away

Our last tip follows on in a way from all the others. As we have mentioned there are plenty of cars on the market these days, both new and second hand. One consequence of this is that buyers can afford to be choosy. If you cannot agree a price with a dealer that suits you,  or on terms that you find acceptable, move on, because you are sure to be able to locate a similar if not better model elsewhere.