5 Ways to Cut Costs When You Are Buying a New Car

Buying a new car is one of the biggest expenses you will make in your life, second only to buying a house. However, driving is essential for most people as they need to get to work, socialise, and run errands. If you want to buy a new car without spending a fortune, here are five ways to cut costs.

Make The Switch To Electric

Electric cars are the vehicle of the future. With the UK government pledging to ban sales of new fuel-driven cars by 2030 it makes sense to switch early and get used to driving an EV. They don’t produce emissions which is better for the environment and many people believe they are safer to drive too.

Currently, an EV holds its value better than a fuel-driven car so it can be more expensive to buy. However, once you own one you will not need to spend money on fuel which could save you a fortune. EVs don’t have a lot of moving parts which means that maintenance costs are lower too.

Shop Around

There are some great deals to be had on car prices if you know where to look. Don’t settle for the first dealership you come across when buying a new car; shop around and see where the best bargains are. This can save you a considerable amount on your purchase.

Negotiate

Don’t be afraid to negotiate the price you want to pay with the dealership. They are in the business of selling cars and if they want to do the deal, they can make it worth your while. Asking for a price reduction may sound scary but it could save you a few hundred pounds. Even if the dealer won’t give you money off the car, they will usually throw in some bonus features for free if you ask nicely.

Lease Rather Than Buy

Electric car leasing can work out incredibly cost-effective. You have to have a down payment, but this is a great deal less than the purchase price of a car. If you are leasing an electric car, you make payments monthly and often things such as servicing and maintenance are included. Companies such as ElectriX can provide more information on leasing, as well as great deals on chargers and insurance.

Research Tax Breaks

If you are self-employed or you drive a company car you will know that company car tax can be expensive. However, if you get the right car this can dramatically reduce the cost. This is because the government has offered tax breaks for cars that have low CO2 emissions. Electric cars come out on top because they don’t produce much pollution and hybrids get tax breaks too. Do your research and you can save a lot of money here.

Getting a new car does not need to be as expensive as you think. Use these tips to get a great price on the car and reduce your costs whilst driving.