Buying a car is exciting and a big life moment. Whether you’re looking to buy outright, save up for it or use the bank of mum and dad, there are many things to consider. To help you make the right choice we’ve put together some key tips to follow when buying a car.
The best way to work out your budget for your new car is to look at your outgoings vs your incoming payments. From there work out how much you could realistically save each month.
Once you know where your money goes, it will be a lot easier to take control of your finances and plan for your big purchase. It's important to factor in all the added costs along with buying your car.
Once you know what you're able to afford you can start looking for a cars within your ideal price range.
Online car traders and websites help you browse different models. And you can set specific filters - like price - to help you find your dream car.
It's important to be well informed and prepped when going to view a car. Here are some tips on what to ask or look out for:
Different types of finance can work in quite different ways, so it is important to understand exactly what you are committing to. Here's a run through of some of the car financing options available.
According to MoneyHelper research, 64% of those who tried to negotiate when buying a car were successful. So don't shy away from a little haggle when buying a car.
Read some tips from MoneyHelper on how to haggle the price of a car here.
Once you’ve found your dream car and agreed a good deal, the next step is paying for it. Use a traceable method when paying for your car and get a receipt then you’re ready to go.
In all the excitement, don't forgot to ensure that all requirements are in place, such as car insurance, MOT and road tax. It's against the law to drive without these.
It can also be quite daunting driving a car you've just bought and if that's the case you could consider using ‘P’ plates on your car so you enjoy your drive with little fuss and worry.
You could reduce your carbon footprint and save money by switching to an electric vehicle (EV). The UK Government is also bringing forward the ban on sales of petrol and diesel cars from 2040 to 2030.
Could this be the time to make the switch to an EV?
New or used, first car or upgrading, we have a range of savings tools to help you get behind the wheel.
On average, customers save twice as much when they save towards a goal. Get ahead of the game and set-up a standing order to save a little each month too before all your bills come out.
Our savings goal tool is available to existing customers with an instant access savings account. Mobile App criteria applies.
Let your bank do the hard work for you by rounding up your everyday spending to boost your savings. When you pay with your debit card, the amount will be rounded up to the nearest pound, sending the spare change straight into your savings account.
It's so important to stay on top of your money. Understanding what you're spending and where can help you identify areas where you can reduce your outgoings and save more.
Get even more useful hints and tips to help you make the most of your money, and save like a pro with our top money savings tips guide. From reviewing your direct debits to switching energy supplier, there are lots of great ways you could save money each month.
Find out how to save smarter with our 10 ways to help you save article.
If you already own a car or looking to buy another one, visit our 'Tips for car owners' page which will have you covered from MOT reminders to car financing options and more.
