Buying A New Car: A new car is second only to a home as the
most expensive purchase many consumers make. That’s why it’s important
to know how to make a smart deal. Think about what car model and
options you want and how much you’re willing to spend. Do some
research. You’ll be less likely to feel pressured into making a hasty
or expensive decision at the showroom and more likely to get a better
deal.

Consider these suggestions:

Check publications at a library or bookshop, or on the Internet
that discuss new car features and prices. These may provide information
on the dealer’s costs for specific models and options.

Shop around to get the best possible price by comparing models
and prices in ads and at dealer showrooms. You also may want to contact
car-buying services and broker-buying services to make comparisons.

Plan to negotiate on price. Dealers may be willing to bargain
on their profit margin. Usually, this is the difference between the
manufacturer’s suggested retail price (MSRP) and the invoice price.
Because the price is a factor in the dealer’s calculations regardless
of whether you pay cash or finance your car — and also affects your
monthly payments — negotiating the price can save you money.

Consider ordering your new car if you don’t see what you want
on the dealer’s lot. This may involve a delay, but cars on the lot may
have options you don’t want — and that can raise the price. However,
dealers often want to sell their current inventory quickly, so you may
be able to negotiate a good deal if an in-stock car meets your needs.

Trading in Your Old Car: Discuss the possibility of a trade-in
only after you’ve negotiated the best possible price for your new car
and after you’ve researched the value of your old car. Check the
library for reference books or magazines that can tell you how much it
is worth. This information may help you get a better price from the
dealer. Though it may take longer to sell your car yourself, you
generally will get more money than if you trade it in.

Buying A Used Car: Before you start shopping for a used car,
do some homework. It may save you serious money. Consider driving
habits, what the car will be used for, and your budget. Research
models, options, costs, repair records, safety tests, and mileage
through libraries, book stores, and web sites.

Before you buy a used car whether from a dealer or an individual:

Examine the car using an inspection checklist. You can find
checklists in magazines and books and on Internet sites that deal with
used cars;

Test drive the car under varied road conditions—on hills, highways, and in stop-and-go-traffic;

Ask for the car’s maintenance record from the owner, dealer, or repair shop;

Hire a mechanic to inspect the car.

Paying for the car: Most people do not realise that they have
capital locked up in their property which could be used for buying that
special car of their dreams.

Release the capital tied up in your home with a home owner
loan. The loan can be used for any purpose, and is available to anyone
who owns their home. Home loans can be used for any purpose such as,
new car, home improvements, pay of store card or credit card debt and
debt consolidation.

Home owner loans are available for practically any reason. One
of the most common types of home owner loans on offer are debt
consolidation loans where the objective is to reduce monthly outgoings
to a more manageable amount. A UK Home Owner Loan is great if you want
to raise a large amount; are having problems getting an unsecured loan;
or have a poor credit history. Many lenders look more favourably on
people who are home owners as this demonstrates a commitment to repay a
large amount of money over a long period.