Money Saving Tips: Buying and Owning your First Car

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When you first pass your driving test you’ll probably experience a rollercoaster of emotions ranging from elation to relief. There’s also the trepidation you might feel if you need to buy a new car. Partly this can stem from the fact you know you need to spend more money buying a car and then there’s the costs involved in owning one.

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Thankfully though, there are ways and means you can save when making your purchases and indeed for prolonging the lifespan of your first motor. In this post you’ll find a few useful money-saving tips to try.

Buying

Research

Before you dive straight into making a purchase, look into what popular cars are for new drivers, what the price ranges are based on age and mileage and also what finance deals there are available. This can help narrow down your search for the right car.

Haggle

If you’re going to a dealership, use the above research when dealing with a salesperson. Use your knowledge of prices to negotiate the cost of your chosen car down, or try to get the garage to throw in a full service and MOT. Try to be as confident as you can, but be prepared to walk away though, don’t feel like you must purchase the car there and then.

Lease?

For those of you who like to know exactly how much you’re spending each month, you might want to consider leasing a car. While you don’t own the car, you get a brand new model for a fixed monthly payment.

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Owning

Cover

Whichever buying option you choose, having insurance cover is a legal requirement. This can be expensive though – particularly for new drivers – so again research and use price comparison sites to bring up a choice of quotes. Also ring providers to see if they can offer you discounts by having named drivers or lower cover levels.

Driving Style

If you own the car you’ll want to ensure you limit the potential for breakdowns and reduce wear and tear and a lot of this is down to your driving style. Driving in a more conservative fashion will help, but you can find a detailed post here which goes through what you can do to protect your car out on the roads.

So be sure to make the most of our advice and you could find yourself driving a decent car, that lasts you a long time, without having to break the bank.

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    Disha

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