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Top tips for buying a new car

Fri 01 Mar 2019

If you are thinking about buying a new car it’s important that you make the right choice and get the best possible deal available. A new car represents a considerable investment, so before you part with your hard earned cash, check out our tips on buying a new car.

The best time to buy: buying at the right time can help you get a great deal. Most dealers have targets to meet and these are generally based on quarterly sales. Meaning that the end of March, June, September and December could be a good time to buy as dealers may be more willing to negotiate.

Get a final price: some dealers display prices which do not include the additional costs associated with buying and registering a new car such as delivery and number plates. Ask the dealer for a full and final breakdown of ‘on the road’ costs for the car before committing to any purchase.

Consider optional extras carefully: when looking at optional extras for your car think carefully about whether you really need them and what difference they are making to the purchase price - especially if you are paying for your car with finance. Try to stick to added extras that could add to the resale value of your car such as parking sensors or built in sat nav.

Look at pre-registered options: to help meet their sales quotas, dealers sometimes buy new cars themselves. These cars are classed as ‘pre-registered’ and can be offered for sale with significant discounts. If you are considering this option, remember that the cars records will show the dealer as the first registered owner of the car. Choosing this option could mean that you get all the benefits of a new car at a discounted price.

Take a test drive: there is no better way to get the feel of a new car than taking for a test drive. If you are considering different cars from different manufacturers then this can be a great way to compare them. As well as how the car drives, remember to check what the passenger space is like and if children’s car seats can easily be fitted.

Check out the warranty before signing: your new car will usually come with a warranty from the manufacturer. The period and terms of cover differ between dealers so make sure that you review this before committing to the car purchase. Some dealers offer extended warranties at additional cost, don’t be pressured into buying this until you have checked out exactly what’s covered and for how long.

Part-exchanging? Do your research: if you’re planning to part exchange your current car, go online and get an idea of your car’s value based on its age, condition and mileage. This will give you a benchmark to compare against the price offered by the dealer. You may be able to get more by selling your car privately but this can be time consuming and stressful when compared to part exchanging.

Car Insurance: car insurance can be expensive so remember to shop around for the best deal.

Ensure that you also review the benefits of the policy to ensure that it meets your personal needs – e.g. that it includes business insurance if you require it for business travel.  

Don’t forget to check the amount of voluntary and compulsory excess that apply to the policy as this is the amount you agree to pay upfront if you make a claim. It’s wise to make sure these are affordable should the worse happen.

To find out more about Police Mutual car insurance and to get a quote click here.

Research your finance options: most dealers will offer a number of finance options which may include hire purchase loans and lease agreements. When considering car finance be aware of any fees and charges that apply and remember to compare the rate of interest as these can vary widely.

Alternatively, arranging a personal loan from an independent provider separately from your car purchase could allow you to shop around for the most favourable terms available to you.

We’ve teamed up with Neyber, our trusted partner to offer loans to the Police family.

So if you’re looking to purchase a new car – Neyber may be able to help with a personal loan.

Rates from 3.9% to 18.9%

All loans are subject to status and acceptance by Neyber

  • Simple online application
  • Money could be in your account within one working day of loan approval
  • Fixed monthly repayments by direct debit
  • Make overpayments or early repayment of the loan free of charge
  • Neyber rated 'excellent' on Trustpilot

Representative example

You could borrow a loan amount of £9,000 with a monthly repayment of £222.07 over a term of 48 months at a 8.9% (fixed) rate of interest per annum. Administrative fees are £0. Total amount repayable is £10,659.56. This is equivalent to 8.9% APR Representative.

Important things you need to know

Police Mutual is acting as a credit broker. Neyber Limited is acting as lender for purposes of entering into a consumer credit agreement. Rates depend on loan amount, term and your individual circumstances and may differ from the Representative APR.

All loans are subject to status and acceptance by Neyber.

Please note, loans are not currently available for PSNI members and their families.


PMGI Limited, trading as Police Mutual, is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales No. 1073408. Registered office Alexandra House, Queen Street, Lichfield, Staffordshire WS13 6QS. Neyber Limited is authorised and regulated by the Financial Conduct Authority. Financial Services Register number 718709. Registered address: 1st Floor, 3 Finsbury Avenue, London, EC2M 2AR. Company registered number: 08806631

Type of article: Articles
Category: Wellbeing

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