Aside from buying a new home, purchasing a fresh vehicle is likely to be one of the largest expenses you’ll ever have to make. More than 1.5 million new cars were manufactured in the UK alone in 2014 and buying one fresh off the production line is a great way to ensure quality and reliability.
However, this also involves the largest cost. There are plenty of more cost-effective ways to source a vehicle, whether you desire a brand new one or are willing to take a second-hand one but reap the value.
Get a Work Vehicle
At some workplaces they offer a company car to certain employees, often depending on their position, contract and years of service. This provides a free vehicle with some even paying for fuel costs, though usually only for work related travel. A more achievable option is to make the most of leasing deals for work vehicles. Many offer out full fleets of executive cars for professionals while tradesmen and those requiring vans can make the most of a commercial van for various purposes.
Car Auctions
Like any auction, car auctions can be a great place to snap up an absolute bargain, but only if you know what you’re doing and have luck on your side. The pressure of taking part in a live auction can see many inexperienced buyers fail, so it is always best to use the services of a professional before building up the confidence. Find an auction with the kinds of vehicle you’re after on offer and give it a go.
DIY
A cheap option for petrol heads but one that involves a lot of time, picking up an old shell of a vehicle and doing it up can be fun and save money. Most scrapyards will have car bodies and the other parts can be sourced online or from garages. This is a much longer process but the end result will be even more rewarding.
Time it Right
February and August, just before the new registration plates come out, are the best two months to buy a brand new car. In preparation for the influx of fresh vehicles many dealers see their sales slow, so for buying one with a number plate from the last six months is best then. The end of June and December are also good as many dealerships have quarterly targets to meet so offer discounts to try and hit them. Buying a new car doesn’t have to cos the earth.