Estimated Time to Read: 3 minutes

There are two distinct problems when buying a new car; dealers rarely offer money saving promo codes and the moment you drive the car off the forecourt you’ll find the price is discounting itself.  Finding ways to cut the impact of depreciation on your shiny new, expensive, financial black-hole are more important than ever.  Here are some tips to help you make the best mileage out of your money when it comes to buying your next car.

The Old Ones are Sometimes the Best

The simple fact that cars come with a built in depreciation value means that you’ll be losing money straight away; there are different ways of approaching this and both come at opposite ends of the new/old scale.  An old car will have already lost most of its value so if you’re looking for a budget run-around, avoid buying a new vehicle.  Second, third or fourth hand will be OK if you are using the car for short infrequent journeys and you’ll not lose vast amounts in value.  The payoff comes in the cost of running an ‘old banger’.  Older models will be less fuel efficient, prone to faults and will most likely be more expensive to tax.  Before choosing a bargain basement price consider the effect of these additional running costs on your daily outgoings.

If you’re using the car for work and/or will rely on it every day, possibly every other hour, then new should mean new.  Manufacturers are under pressure to build cars that are as fuel efficient and environmentally friendly as possible.  While the highest powered, fastest model going may seem like an attractive option, lower powered means more efficient, cheaper to tax and cheaper to insure.  Check out the associated extra costs on different models before buying – or preferably before looking.

Whatever Happened to the Horse Trader?

An old fashioned term for a haggler was ‘horse trader’.  Known for their astute, hard bargaining techniques, this old breed died out long ago and was replaced by car salesmen and women.  Nothing excites a car dealer more than a pleasant spot of haggling and you should be sure to take advantage of this fact.  However, beware of taking this approach un-prepared; any car salesperson worth their salt will have only agreed to potty training in exchange for longer naps, so they’re pretty sharp when it comes to this stuff.

A few handy tips may help; manufacturers will often offer bonuses to their dealerships close to the end of the sales quarter, salespeople are therefore naturally keen to sell at this time, make the most of it.  Ignore protests like ‘we need to check with head office’ which is a common excuse for refusing to haggle; it’s almost certainly a fabrication, so walk away.  However, don’t walk out of earshot, in order to be able to hear them when they call you back.  To maintain their (and your own dignity) allow them to make a faux call on their mobile if necessary, but nothing more.

If you’re a cash buyer, don’t let on.  Negotiate a deal on finance – they’ll probably offer a significant discount.  Then ask for the same discount (or better) for cash.  Allow time for them to go a little pale, faint and shaky; then seal the deal.

Unless you desperately need a range of exciting extras don’t agree to them.  Most of the extras can be bought independently and much cheaper online, using promo codes and vouchers.  This also goes for insurance on your new car, so don’t forget to comparison shop for this too.  Remember that car dealers are acting in their own interests and not yours, only buy what you need and be sure that you can’t get it elsewhere, much cheaper.

While shopping for car accessories should be done with promo codes in mind, a few older sales tricks may help to secure the best deal on your next motor.