This post contains affiliate links. Click here to read my affiliate policy.
Last Updated on July 17, 2019
In need of a new car? Maybe your current model is uncomfortable or unreliable- or maybe it’s just ugly and you want something a little more aesthetically pleasing. Since cars can be so expensive, you might have overlooked the idea that getting a new once is a possibility at all, but it maybe you should think again. The following tips highlight ways that you could secure yourself an upgraded vehicle.
Get serious about saving
It goes without saying that if you want something, it makes sense to work hard and save for it. Saving for something so expensive can be time consuming, it’s boring and feels like you’re never going to get there. But if you’re set on reaching your goal, then get serious about saving. Cut back on all of your luxuries for a while- cook your own food instead of buying takeaways, stop buying new clothes and cancel Netflix and Spotify subscriptions. Find ways to earn some extra money, take on extra shifts at work, sell what you no longer need or do some work from home such as freelancing or buying and selling. Even if you’re able to earn or put away a little extra each week it will speed up your savings goals and you’ll be on the road in your new ride much more quickly. When it comes to money, you have to have your priorities straight, so setting your mind on what you want and coming up with a plan to achieve it is no bad thing. Work out how much you’ll need to save each week or month, and how you can do that more quickly.
Buy an older model
If you’re in need of a car in the shorter term and don’t have tons of money or time to save then going with an older model could be a way to go. You do have to be careful here, anything too old is going to be unreliable and could cost you more in maintenance and repairs. It’s all about finding that Goldilocks car- not too new and expensive but not too old and beat up. You can always make upgrades to an older car, find cool number plates for sale, change the alloy wheels and improve the on board technology. An older car doesn’t have to be a banger, and if you choose one that’s a couple of years older than what you were originally looking at you could potentially save hundreds.
Look into written off cars
Another way you can get the car you want a fair bit cheaper is by choosing one that’s previously been written off. These are cars that have been damaged and deemed by an insurer not to be worth the cost of repairing. However, they’re often sold in auctions, repaired and put back onto the roads. In some cases, cars can be written off for minor damage like paint vandalism or broken windows, however, there’s also a chance they could have been involved in a crash (and there’s no way for you to find out the original damage). Previously written off cars always sell cheaper than others meaning the car you want could now be within your budget. While these cars legally need to meet standards to be put back onto the road, there’s always the risk that the repair job wasn’t brilliant and if the car has sustained damage meaning it’s not as safe as it once was. There are definitely pros and cons either way, so do some research and find out if it’s worth it in your case.
Finally, another option for car buying is finance. Here you can spread the cost of the car and pay over a set amount of months- usually anything between a year and seven years. It means you can get the car you want right now without having to find a huge lump sum, although you will pay back more overall. You can also end up in a position where you’re paying a chunk of money each month for a car that’s not really worth it years down the line so be sure to consider everything carefully. Finance can be an excellent way to buy a car, but it;s not for everyone. If your money situation isn’t stable then it could prove to be risky.
How would you go about upgrading to a better car?