Buying a new car is often a dream for everyone. The growth in UK automotive market has allowed people to have a choice of different cars to purchase. According to SMMT, production of cars are growing and it’s ever high since 2007. The production increases 3.1% from 2012 and more than 2.5 million cars were manufactured.
According to SMMT, UK will become the third largest car manufacturer in Europe after Germany and Spain. However, four cars out of five manufactured cars in UK are sold abroad in countries like China, Russia and the US.
Due to increase in car production, UK economy is improving with UK automotive investment exceeding £2.5 billion in 2013.
According to SMMT, there are seven volume car manufacturers in UK and seven commercial vehicle manufacturers. There are eight major premium and sports car producers in UK and over 100 specialist brands. There are nine bus and coach manufacturers.
It means the local market demand is also increasing with the growth in car manufacturing. According to SMMT forecast, new car registrations will be up 2.293 million units making it 1.2% higher. In 2014, it is expected to increase 2.328 million units making it 1.5%.
It is not an easy choice when buying a new car because you have to make a right vehicle choice. Many buyers often make their buying decision based on price and the features of the car.
At first glance, the price tag on a brand new vehicle may seem like an unbelievable bargain. However, it is important to take a good look at the total cost of ownership and the available features of the vehicle. Here are some things to consider before finalizing the purchase of a new vehicle.
Get a Test Drive
Taking a new car to test on the road is always an exciting experience, but do not get emotionally attached with the vehicle because the salesman can read you. Analytical car buyers can make a bargain as compared to emotionally charged buyers. Ask a lot of questions about the vehicle and try to think about every aspect because you are going to spend a lot of time in your new car.
Get to know vehicle tax rates
Remember, each vehicle falls in different tax band category. You need to ask the salesman about it thoroughly. You can also visit the official website to find out more about tax data.
Deal is available for today only
It is a marketing gimmick that most of the dealers or salesman use. If you avail the offer today, you can get the discount. Many people does not make a decision right away and if you happen to visit the dealer next day, they will tell you that the offer was for yesterday. In most cases, offer is available they just play with your emotions and urgency to have a car.
Most of the time people make buying decision without having a second thought. Do not rush because you may get a good price or even a good car than you have in mind. Explore the options according to your budget and visit each car dealer to test different cars. Sometimes, you will find a different brand car in better price with more features.
By performing a side by side car comparison, prospective buyers will be able to decide which vehicle offers the most bang for the buck. When studying the comparison, shoppers will be able to view each vehicle’s base price, available options, engine specs, and the interior dimensions.
The reliability of a vehicle is a very important factor to consider. Choosing a problem-prone vehicle may lead to a lot of unexpected expenses in the future. Reading the online reviews posted by current owners is a good way to research the vehicle’s reliability.
The rate of depreciation varies greatly from one vehicle to the next. Typically, high-quality vehicles that have a reputation for dependability tend to have a much higher resell value. Unfortunately, the value of some vehicles will plummet dramatically within a five-year span. A high resell value will certainly come in handy when attempting to trade the vehicle in for a new one.
Some motorists make the mistake of selecting a vehicle that does not fit their lifestyle. For example, a small compact vehicle will be more suitable for a single person opposed to a large family.
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