| Here are some useful tips on buying a new or | | | | get more money than if you trade it in. |
| used car: | | | | |
| | | | Buying A Used Car: |
| Buying A New Car: | | | | |
| | | | Before you start shopping for a used car, do |
| A new car is second only to a home as the | | | | some homework. It may save you serious money. |
| most expensive purchase many consumers make. | | | | Consider driving habits, what the car will be |
| That's why it's important to know how to make | | | | used for, and your budget. Research models, |
| a smart deal. Think about what car model and | | | | options, costs, repair records, safety tests, |
| options you want and how much you're willing | | | | and mileage through libraries, book stores, |
| to spend. Do some research. You'll be less | | | | and web sites. |
| likely to feel pressured into making a hasty | | | | |
| or expensive decision at the showroom and | | | | Before you buy a used car whether from a |
| more likely to get a better deal. | | | | dealer or an individual: |
| | | | |
| Consider these suggestions: | | | | Examine the car using an inspection |
| | | | checklist. You can find checklists in |
| Check publications at a library or bookshop, | | | | magazines and books and on Internet sites |
| or on the Internet that discuss new car | | | | that deal with used cars; |
| features and prices. These may provide | | | | |
| information on the dealer's costs for | | | | Test drive the car under varied road |
| specific models and options. | | | | conditions-on hills, highways, and in |
| | | | stop-and-go-traffic; |
| Shop around to get the best possible price by | | | | |
| comparing models and prices in ads and at | | | | Ask for the car's maintenance record from the |
| dealer showrooms. You also may want to | | | | owner, dealer, or repair shop; |
| contact car-buying services and broker-buying | | | | |
| services to make comparisons. | | | | Hire a mechanic to inspect the car. |
| | | | |
| Plan to negotiate on price. Dealers may be | | | | Paying for the car: |
| willing to bargain on their profit margin. | | | | |
| Usually, this is the difference between the | | | | Most people do not realise that they have |
| manufacturer's suggested retail price (MSRP) | | | | capital locked up in their property which |
| and the invoice price. Because the price is a | | | | could be used for buying that special car of |
| factor in the dealer's calculations | | | | their dreams. Release the capital tied up in |
| regardless of whether you pay cash or finance | | | | your home with a home owner loan. The loan |
| your car - and also affects your monthly | | | | can be used for any purpose, and is available |
| payments - negotiating the price can save you | | | | to anyone who owns their home. Home loans can |
| money. | | | | be used for any purpose such as, new car, |
| | | | home improvements, pay of store card or |
| Consider ordering your new car if you don't | | | | credit card debt and debt consolidation. |
| see what you want on the dealer's lot. This | | | | |
| may involve a delay, but cars on the lot may | | | | Home owner loans are available for |
| have options you don't want - and that can | | | | practically any reason. One of the most |
| raise the price. However, dealers often want | | | | common types of home owner loans on offer are |
| to sell their current inventory quickly, so | | | | debt consolidation loans where the objective |
| you may be able to negotiate a good deal if | | | | is to reduce monthly outgoings to a more |
| an in-stock car meets your needs. | | | | manageable amount. A UK Home Owner Loan is |
| | | | great if you want to raise a large amount; |
| Trading in Your Old Car: | | | | are having problems getting an unsecured |
| | | | loan; or have a poor credit history. Many |
| Discuss the possibility of a trade-in only | | | | lenders look more favourably on people who |
| after you've negotiated the best possible | | | | are home owners as this demonstrates a |
| price for your new car and after you've | | | | commitment to repay a large amount of money |
| researched the value of your old car. Check | | | | over a long period. |
| the library for reference books or magazines | | | | |
| that can tell you how much it is worth. This | | | | A UK Home Owner Loan is a cheap, low cost, |
| information may help you get a better price | | | | loan secured on your UK home. It frees up the |
| from the dealer. Though it may take longer to | | | | equity in your home for you to use on |
| sell your car yourself, you generally will | | | | whatever you want. |