How To Save Money When Buying A New Car

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Buying a new car is a big financial decision, but it’s really just like buying anything for yourself. You should go through a process where you look for the most affordable options around. Ideally, you want to spend as little money as possible, while still getting the best outcome available. 

Yes, cars are expensive, but there are ways for you to save money when buying one. Here are a few tips that will help you out: 

Trade-in your old car

Most dealerships accept deals where you can trade your old car in to get a chunk of money off the asking price of the current car. It’s a very common idea, and this is a brilliant way of instantly saving a lot of money. After all, what are you going to use the old car for? You could sell it yourself, but this is time-consuming. Instead, trading it in when you buy a new car will help you offload this useless vehicle and save money at the same time. 

Get an electric car grant

In the UK, you could get a discount on the price of a new electric vehicle through a government grant. The maximum grant available is £1,500, which is a sizeable chunk of money going towards the asking price. Only cars that have been approved by the government are eligible for a grant, and you can check out a list of them here. It’s also expected that other electric vehicle incentives will be out there soon, so keep an eye out as this really helps you save money.


Explore the Motability Scheme

The Motability Scheme isn’t available to everyone, but it is a smart way of saving money if you’re currently on a mobility allowance. Effectively, people with mobility issues can have access to money from the government. With this particular scheme, you can use that money to get a car that’s suitable for you - while also saving money. Some big brands offer cars via this scheme, with Audi being one of the most prominent. There are plenty of Audi Q2 Motability deals that can help you get a car and save money. If this applies to you, it is well worth looking into as the savings can be impressive. 

Lease the car

Instead of buying and owning a car, you can save money by leasing it. In essence, you borrow the car and hire it for a set amount of years. This is normally between one and four years, but the cost of leasing the vehicle is almost always cheaper than buying it. Plus, you can swap the car for a new one at the end of the contract, meaning you’re constantly driving the latest cars without breaking the bank. 

In conclusion, you don’t need to spend a fortune when buying a new car. If you’ve decided that now’s the time for an upgrade, consider the options above. There’s bound to be at least one tip here that applies to you and can help you save money!

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