Buying a Car on a Budget

We all rely on our cars to get us from one location to another quickly, safely and with the least amount of stress. Sometimes, we will all get to the point where we need to sell or scrap our cars and replace them with something newer, and more economical on fuel (as well as being cheaper to tax).

Whilst it would be nice to simply buy any car that we choose, there is the small issue of money to deal with. A lot of people just don’t have the cash available to spend on their ideal cars, but did you know that it might still be possible to afford the car you really want?

u6ftmctuxfmjs5zjy5qkHere is a savvy shopper’s guide to buying cars on a budget!

Got an existing car? Sell it!

Many people already have a car, so what you should consider doing is selling it before buying your new one! There are many ways that you can sell your car, here are some of the most common ways:

  • Local newspapers – they often have classifieds sections in the back where you can advertise your car for sale. A lot of the time, those same adverts will also appear on the classifieds section of their website too;

  • Classifieds websites – there are a number of websites that offer the ability to place for sale adverts for cars, and there are also some like Gumtree where you can post up a free advert in the motoring section of their classifieds website;

  • Auction websites – you normally have to pay some fees for listing your advert, but the upshot is that your advert will be seen by thousands of people.

I would advise against trading your car in for your new one because you would be offered a much lower price for your car (the “trade price”) than you would if you sold it privately.

Got an old banger? Scrap it!

Even if your existing car is a pile of rusting junk, you can still take it to your local scrap yard and be given some cash for it.

They will give you a Certificate of Destruction which is your proof that it has been scrapped, and they will also inform the DVLA that you no longer own the car.

Sell any unwanted valuables to raise cash

Another way of raising money for the purchase of your new car is to sell off any unwanted valuables you may have. You might not think you have any, but you would be surprised as to what you can unearth in your home!

Many people have old valuables such as computers and games consoles, electronics and more which can be easily sold on for cash.

Pay a large deposit for small finance payments

If you are considering financing your new car, the trick is to pay as big a deposit as possible in order to have small monthly finance payments. It is also important that you get a good deal on your finance, as you don’t want to be paying high amounts of interests unnecessarily.

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