How to Afford a High Quality Car
Many petrol heads have at least one car they dream of owning eventually. Unfortunately it’s usually an expensive, high quality vehicle that comes with a price tag to match and not a five-year-old Vauxhall Corsa.
No doubt if you’re one of those dreamers you’ve spent hours looking over your accounts, figuring that if you cut cheese and bread out of your diet for a year you’ll be able to afford the front tyre of a Bugatti. There are other (more realistic) ways to afford a high quality car.
Get a Loan
Using a loan to pay for a car often works out more expensive in the long term but can be beneficial depending on your circumstances. If you intend to buy a new car anyway and know you will be able to afford it in the end then getting a loan helps secure the car as quickly as possible.
Hire purchase is one of the most popular and trusted types of finance. It requires just a 10% deposit and repayment is flexible, anywhere from 12 to 60 months, so if something goes wrong down the line there is a bit of leeway.
Buy a Newly Used Model
There are plenty of almost new cars for sale that come with a more affordable price than brand new models. Motorpoint has a huge range of the latest used models with big savings compared to buying new. These normally have a low mileage, better fuel economy than older versions and come in great condition as they haven’t been used as much.
Most cars lose about 40% of their value in the first year. So if you have the patience you can scoop a superb deal on a top quality car that looks and feels as good as new, and is affordable to boot.
Hire an Expert Auctioneer
Auctions always have some of the best deals on new and nearly new cars. However, they can be an intimidating and fast-paced environment for snapping up the best deal. Thankfully there are some auction experts who, for a small fee, will get you what you want for the best price without having to go through the auction experience yourself.
Car auctions always have a range of vehicles and the expert will know which one to visit to get the best price on what you’re after too. Their fee should be covered by the amount you save rather than buying elsewhere.