If you want to buy a cheap new car, there are a few juicy little secrets that the dealers don't want you to know, but could add up to a huge amount of money. After 23 years working in a main dealer, I'm going to spill the beans - and you can benefit hugely.
For a large part of my time in the motor trade my job was to buy cars at 'trade' prices, that we would then stick on the forecourt with sometimes as little as 1,000 on top of the price I paid, and occasionally as much as 10,000!
If you choose you're moment, you can get a great deal. No dealer will turn you away because you're buying at the wrong time, but the last week of every quarter (March, June, September and December) sees a rush to get registrations, and manufacturers give dealers bonus money for taxing cars then, and the dealers will pass that on to you for being in the right place at the right time.
You can also cash in on the salesman's ego to get a bargain. One of their 'perks' is a company car, which is often a higher spec than standard. Most salesmen wants the latest 'plate, but they have to sell their car first, so when the new plate is out, or the model changes, they'' often sell their own car for little or no profit just to change their own car.
When manufacturers put bonuses on to get more registrations, some dealers will register 10, 20 or even more of these cars in their own name to hit targets. Then they'll offer these 'pre-registered' cars at knock down prices to clear their stock before starting the game all over again, The cars are brand new and haven't moved an inch - but they could be two or three thousands pounds cheaper than list price.
Apart from the obvious 0% finance offers that you see, normal dealer rate are usually lower than the bank to start off with, but you'll find that they're also prepared to reduce their rates if you just ask. And for every 1,000 you borrow, a 1% reduction in interest rate could save you as much as 50 - on a 10,000 car you're another 500 in front - just for asking for a lower rate of interest!
Few people realise that dealers actually need your part exchange vehicle, because if everyone came in without a car - they wouldn't have any used cars to sell. Just before you take your car to a dealer, invest 10 in one of these hand car washes that will also hoover your car out and clean the dashboard. Stick an air freshener in too, and you'll be presenting you're car as 'ready to sell' and the price that you'll be offered will certainly be higher than normal. Few people ever think of cleaning their car before they ask for a price, but those that do always get top money!
Buying a late model, low mileage car can half the list price of many cars. Think about this; if a new Mondeo has a list price of 18,000, and you can get one that's six months old with 4,500 miles on the clock for half the price, would you buy it? Those cars are out there today, you just have to look. They have usually been owned by car rental companies who get huge discount from new, and then make their profit not by renting them out, but when they sell them on. They also know that they have to be well looked after to get the best price, so you can be sure that you're buying a bargain that will still have more than two years of manufacturers warranty left.
Cars and Trucks Products on our marketplace
About Mark Stephens: After 23 years selling all makes of new and used cars in the UK, Mark Stephens is telling everyone how to buy a cheap car with the security of buying from a main dealer. There are more top tips on his website.
Get your own completely unique content version of this article.
|