When it comes to buying a car, whether you plan to get a brand spanking new one, a used one or would rather lease one, you need to know what you are doing so you don’t get ripped off.
So here are a few things you should do to ensure you don’t drive off in your new car with a big smile on your face, only to discover it is actually a huge disappointment.
Don’t buy the first car you see:
It may be tempting to buy the first one you go to look at, especially if you are desperate for a new car and it looks perfect. But just because it looks perfect doesn’t mean it is perfect. Hidden issues could cause you a lot of stress and a considerable amount of money, further down the line.
Do you research:
Before you do anything you should be researching – this will give you an idea of how much you should be paying and what you should be doing and looking out for when buying a car.
Once you have found a car that you might purchase, you need to make sure its paperwork is up to date - you need the V5C document, for example, so you can tax it and it is important to check the MOT history, which you can do here.
Don’t even contemplate buying a car without taking it for a test drive! This won’t only enable you to see if you feel comfortable behind the wheel, you will also be able to listen out for any unwanted noises in the engine and make sure it is in good working order.
Study the car carefully:
Don’t be embarrassed to check every corner of the car including underneath the bonnet. It may seem like a good deal, but if you discover issues that weren’t clear on first glance, these could end up costing you an awful lot more money than you originally spent on the car itself.
And finally, understanding motoring terminology:
Not understanding motoring terminology could be your downfall when it comes to buying a car and potentially being ripped off. You could find that some sale people rely on the fact you won’t really understand what you are signing up for and you only discover the real meaning when it is too late and you are already tied into something you don’t really want to be.
So, as part of your research make sure you get your head around the various terminology. Car brochures, motoring magazines and vehicle adverts are full of acronyms and phrases that can cause confusion for those who aren’t clued up on cars. This article gives an extensive A-Z list that should help with that.
There are many perks to leasing a car; you get to enjoy a new vehicle every few years, you avoid maintenance or MOT costs and you don’t need to save up for it. However, like with most things there are downsides, including that you never actually own the car. If you are considering this option – do you know what Balloon Payment, Advance Rental or Blocked VAT mean? If not then you need to take a look at this Glossary first – it will help you understand what you are signing up for.