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+44 7401063418How to Buy a Used Car on a Budget: Smart Tips from Auto Market Place?
Purchasing a vehicle is a major decision, but it shouldn’t empty your bank account. If you’re in the market for a used car for sale and you want to purchase one on a budget then you’re in the right place. At Auto Market Place, we have successfully helped hundreds of clients drive away in a quality used car that meets their needs and their budget. In this blog we will outline our expert advice on how to buy a used car on a budget without compromising on reliability or peace of mind.
Set Your Budget
Before you start looking at listings and visiting showrooms, set your maximum spend amount first. Don’t just consider the price for the vehicle, but include costs for insurance, fuel, road tax, maintenance costs and interest on any loan.
To give you a clearer indication of what you can afford, you can use our Calculate Your Budget tool, whether you’re buying outright or considering car financel options like HP Finance or PCP Finance. We are a trusted used car dealership, and we will ensure we support you through these processes every step of the way.
Explore Your Finance Options
Many buyers think buying a car on finance means paying more money, but this is not the only option. Flexible finance plans such as Hire Purchase (HP) or Personal Contract Purchase (PCP) allow you to spread your vehicle costs out over time so your purchase is more affordable, without skimping on quality.
HP Finance: Perfect for someone who wants to own the car outright at the end. HP involves paying a deposit followed by fixed monthly payments. HP is simple and usually the interest rates are fixed.
PCP Finance: This option allows for lower monthly payments and options at the end of the term. You pay for the car’s depreciation and this gives you the flexibly to either buy the car, trade it in or return it to the dealer at the end of the term.
Discussing your needs with an Auto Market Place expert will help you find the best finance option based your lifestyle and budget.
Choose a Good Used Car Dealership
When you’re on a budget it could be tempting to go with the cheapest and the first thing you find online, but sometimes buying through a good used car dealership like Auto Market Place is well worth the premium. Reputable dealers will have vehicle professional checks, offer warranties and provide peace of mind with excellent customer service.
All of our pre-owned vehicles come with a 90-day warranty on your purchase, and maintain an extended warranty package for even more peace of mind. All of our vehicles are prepped and reviewed by licenced mechanics meaning you can drive away feeling comfortable in your new car.
Look for Value not Price
Price is one variable that matters, but is definitely not the only one. Take into consideration the area, age, mileage, service history, fuel economy, and etc. A few hundred dollars upfront could save you hundreds in the long-term if this vehicle was more fuel economical or didn’t require as many repairs.
We always recommend test-drives in at least a couple of vehicles before a decision is made. At Auto Market Place we want you to explore your options regardless of the price range or particular needs.
Take Advantage of Part-Exchange
If you own means to a vehicle, ask about part-exchange. If you sell or trade-in your old vehicle it can be used as a security deposit for your new vehicle. This can diminish your upfront cost and keep the as simple as possible.
At Auto Market Place we can offer competitive part-exchange values and complete the paperwork for you.
Inquire About Warranty and Aftercare
Regardless of whether you are buying under a budget, aftercare should not be overlooked. Opting for a car that has a warranty will protect your investment from unforeseen repair costs. The standard warranty we offer is for 90-days and covers most mechanical faults and electrical faults and we also offer extended warranties if you wish.
We also provide transparent servicing histories, HPI checks and complete support before, during and after your purchase.
