New or Used
Buying a brand new car
Forecourt prices are actually getting cheaper, according to some experts. Towards the end of the year, it is traditional for vehicle manufacturers to introduce new and revised models with more attractive specifications.
If you keep an eye on what models are being replaced and when, you could snap up a serious bargain. Dealers generally rely on the latest registration plates attracting customers.
Around Christmas, it is traditional for the market to die down, and this is when some of the best deals can be had.
Buying a nearly new car
As soon as you drive a new car away from the showroom, the depreciation starts.
It is often possible to net a bargain that is around a year old with approximately 10,000 miles on the clock and the balance of the manufacturer's warranty intact. This type of deal is common at some car dealers and at larger car supermarkets.
Buying a second hand car
The car trade is overrun with vehicles. Most dealers barely know what to do with all the vehicles they are offered, auction halls are jammed with vehicles and the classified ads are usually packed with private seller.
This means that it is a buyers market - supply exceeds demand, and the buyer is spoiled for choice. For this reason, when buying a new car, shop around and haggle hard. Always remember though, don't spend time getting a good deal only to take the first car finance deal that comes your way.