Buying a Car
 Introduction Buying a car is one of the most significant purchases you may make in your lifetime. It's imporant to pick the best car for your needs, that meets with your budget and income and that best matches your driving style and frequency. There are many horror stories about buying a car, however, it doesn't need to be stressful or regretful. The following will give you an idea of what's involved in buying a car.
The Cost of Buying a CarIt's normal for a learner driver who has just passed their driving test to purchase a car at a moderate value, such as a 2005 Renault Megane, as below. The car below is typically being sold for about £5,000 with 22,000 miles on the odometer. Buying a car is not easy. There are many pitfalls for the novice and inexperienced buyer. The decision as to whether you approach a main dealership or your local small car showroom is usually influenced by the size of your budget. Smaller showrooms tend to have a poorer image, however there are several larger dealerships whose public relations, expertise and value for money leave a lot to be desired. If you're buying your first car, it's best if you take along a parent, family member or friend who has already purchased a car themselves. That way, you're less likely to be 'taken for a ride' as they say. For help and advice on buying a car, click on What Car. This website gives loads of information on whether to buy a new or used car, where to buy, how to haggle and other useful advise. A major consideration when you're buying a car is whether to buy a petrol or diesel engined car. If you intend to frequently drive very long distances, a diesel engined car would suit you better. Otherwise, a petrol engined car would be best. Have a look at our Petrol v Diesel engined car cost comparison for more information. What to Look Out For It's unlikely that most people would have £5,000 sitting in the bank waiting for the purchase of a car. It's normal for people to take out a car loan in order to fund this purchase. There are several banks who provide car loans: a £5,000 car loan at 8.8% APR would typcially cost about £175.00 per month, taken out over a three year period. Note that this excludes several running costs, as shown on our Owning a Car webpage. Loan comparison websites will list the cheapest loans available on the internet. Some AdviseThere are several companies who offer to investigate the ownership history of UK vehicles. These are especially useful if you are buying a car privately or are buying from a smaller local showroom. Click on mycarcheck and have a look at their car identification service. |
