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Posted by on Jul 25, 2014 in Savings tips |

The Cost-Effective Way to Buy Your First Car

The Cost-Effective Way to Buy Your First Car

When you’re about to buy your first ever motor car, it’s easy to let your emotions get the better of you. Waiting to step behind the wheel of your very own car can feel like waiting for Christmas, you’ve passed your driving test and now you want to reap the benefits. This can result in you paying more than you have to. There are lots of bargains out there that are perfect for a first time buyer like you, but how do you find them?

The first thing to consider is whether to buy a new car, or a used car. Your heart’s telling you that you want a brand new car, but your head should be telling you something completely different. The average price of a new car in the United Kingdom is £28,973 but the average price of buying a second hand car is only £9,376. Just think what you could use the extra £19,000 for. Once you’ve bought a new car its price starts to depreciate from the moment you drive it out of the car lot. It can make much more sense to find a second hand car to begin your driving adventure with.

Don’t mistake second hand for ‘old’, there are pre-loved cars on the market that are in fantastic condition. You’ll find these four wheeled bargains online at sites like Gumtree, as well as in car dealerships. Always have a look at the car with an experienced driver, and arrange a test drive if possible with them alongside you. Never buy a car without seeing it first hand, you don’t want a nasty surprise once you’ve handed your money over.

You also have to consider that you will want to sell your car on at some point, so it’s important to take this into consideration when buying it. Believe it or not, the colour of your car will have a major impact on its re-sale value. You may have a yearning for a bright pink car now, but will you be alienating half of your potential buyers when the time comes to sell it? The worst colour of all to buy is orange, and the best colour to retain the car’s value is silver. There are a lot of costs to consider, both before and after you buy your first car. This helpful infographic may be just what you need to make an informed choice.

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