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Car Buying Guide
Your priorities
New or used?
Auction, private sale or through a dealer?
Purchase out-right, or finance through a lender?
Your priorities
It is worthwhile deciding on your priorities first so that you save time and
money later. A consumer guide, such as
Parkers, can help. Armed with a wish list, it will be harder for a
salesman to add on features you don't need. You can avoid making a rash
decision by considering such factors as fuel economy, passenger space, storage
space, power, manoeuvrability, emissions, safety and, of course, your budget.
Include running costs such as insurance, MOT, road tax, petrol, repairs and
servicing in deciding what you can afford, and try to set a fixed limit to
avoid temptation!.
New or used?
With a new car you get status, the best warranty, greatest reliablity, no risk
that the car has been abused and a choice of colour and specification, but this
has to be balanced against the much higher cost and heavy depreciation. With a
used car you get much more car for your money, a car you couldn't perhaps
afford to buy new and a wider choice at any given price, against which you
should balance the fact that the car will probably be less reliable, could
therefore cost more in servicing and repairs and will need replacing sooner.
You may be able to afford to buy new, but because depreciation is so heavy on
new cars, Credit Connect UK recommends purchasing a used car.
Auction, private sale or through a dealer?
Via the auction route you can buy a car quickly, from a wide choice and at
probably the lowest cost around. You will not be able to test drive the car,
only a superficial inspection will be possible, and your legal rights are
minimal. The process itself can also be intimidating.
A private seller should give you more information about the car and its history,
and the car should be cheaper than through a dealer, because of the absence of
service. However, car inspection facilities may be minimal, you will not be
able to test-drive the car without appropriate insurance, and your legal rights
are much more limited than via the dealer route.
Whilst prices will be somewhat higher and the opportunities for learning about
the car's history will be limited, the dealer route has many advantages: a
large choice, possibilities for part exchange, fully-repaired vehicles, an
opportunity for full inspection (including professionally by bodies such as
the AA, Green Flag
or RAC), the peace of mind
that comes with a guarantee, the backing of the
Sale and Supply of Goods Act and better protection if the car has been
stolen or is on uncleared hire purchase. You can often find nearly-new cars
that have served on the rental market for a short period or others with
virtually no mileage which dealers have needed to register to meet a sales
target but have failed to find a buyer for.
Each of these methods of sourcing a car has its advantages and disadvantages,
but for many, the licensed dealership route, with all the security and
convenience that goes with it, is worth the extra cost. Because peace of mind
and security are so important, Credit Connect UK only offers finance on cars
purchased this way. Whiver method you choose, don't forget to negotiate!
Purchasing and financing
Few people buy a car with cash (there are also money laundering issues) and most
enter into a finance agreement, which is where Credit Connect UK can help. A
rash financial decision can often be made when faced with insistent dealers
offering finance, and arranging a car loan before looking for a car can often
help avoid this, especially with our pre-approved VIP card. Don't be daunted by
acronyms like APR, HP, PCP or PCH: it's easy to compare the various options
once you've decided how much you can afford, and over what term, and our
experienced advisors will guide you through the process and help you plan for
unforeseen circumstances. Check out our FAQ and our
Terms & Conditions or
apply online now.
Buying a car is a major purchase, so it pays to study
any contract in detail. If you are unsure about anything, do not sign until you
get clarification.
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