New or second hand cars

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New or Second Hand Cars

Now is a great time to choose a new car and shop around for the cheapest car finance possible. But should you buy new?

Research shows that more and more people are buying second-hand cars, but should you buy used? Should you buy your car from a dealer or from a private seller?

This is the carfinance.co.uk concise guide for choosing the best type of car to suit your needs.

Buying a brand new car

Forecourt prices are actually getting cheaper, according to some experts. Towards the end of the year, it is traditional for vehicle manufacturers to introduce new and revised models with more attractive specifications.

If you keep an eye on what models are being replaced and when, you could snap up a serious bargain. Dealers generally rely on the latest registration plates attracting customers.

Around Christmas, it is traditional for the market to die down, and this is when some of the best deals can be had.

Buying a nearly new car

As soon as you drive a new car away from the showroom, the depreciation starts.

It is often possible to net a bargain that is around a year old with approximately 10,000 miles on the clock and the balance of the manufacturer's warranty intact. This type of deal is common at some car dealers and at larger car supermarkets.

Buying a second hand car

The car trade is overrun with vehicles. Most dealers barely know what to do with all the vehicles they are offered, auction halls are jammed with vehicles and the classified ads are usually packed with private seller.

This means that it is a buyers market - supply exceeds demand, and the buyer is spoiled for choice. For this reason, when buying a new car, shop around and haggle hard. Always remember though, don't spend time getting a good deal only to take the first car finance deal that comes your way.

Getting the best deal possible

Always remember to find out as much about the car as possible. If it is a new car of a specific model, get quotes from as many people as possible including dealers and supermarkets. If you can use lower quotes as leverage to secure a better deal, all the better.

As well as the asking price, be sure to find out exactly what each car dealer offer in terms of warranty, finance and specifications. When it comes to finance, be aware of which rate you are being quotes, how much deposit is required and how long the repayment period of the loan is. If you are looking to part exchange your old vehicle, make sure you are getting the best deal possible.

Collecting a new car

When collecting a new car, or even a second hand car in some instances, the dealer should be able to supply you with a PDI (Pre-delivery Inspection) document. This should reveal any faults with the vehicle.

You should insist on seeing this document when purchasing a new vehicle and having any faults repaired.