Buying a new car isn't a cheap endeavour. Even used cars can be expensive, depending on the model and age of the vehicle you choose. It goes without saying that finding ways to save money on your car purchase can allow you to get more on your money and aid in paying out more than is necessary.

Pay Cash

First and foremost, paying in cash empowers you. It means no interest is added to your purchase, and you won't be paying more for your vehicle than the price, as you would with some financing options. If you can use savings or wait until you can afford to pay the purchase price off entirely, it's a powerful way to keep costs down and take control of your finances.

Shop Around

Shopping around can give you a better idea of what is available, the types of cars on the market, and what you can get for your money. This is especially important if you are looking a new car, as this will automatically be more expensive. Look for good offers, discounts, and financing deals designed to help you reduce the cost of repayments and make your purchase more affordable. Finding a good deal can make you feel savvy and resourceful like you've accomplished something significant.

Time It Well

For example, if you're buying your next car from a Toyota dealership, there are a few times in the year when you can secure further discounts.

For example, if you're not too bothered about having the newest number plate on the road, buying your next new car just as the new plate is released can secure bigger discounts on models about to 'age out of the market '. This means these models will soon be replaced by newer versions, making dealerships more willing to offer discounts to clear their stock. 

Alternatively, you can purchase at the end of each financial quarter in the hopes that sales agents will need to hit targets and can offer more significant discounts or better offers to make the sale.

Go Smaller

Bigger isn't always better, and if you want to save money on your next car purchase, opting for a smaller vehicle can enable you to save money. This is because smaller cars are generally more affordable than their larger counterparts. Do you really need that 4x4 or SUV? Not only will they come with higher running costs but a hefty price tag, costing you more money during the duration you own it. Reassess your wants vs needs and see if you can get what you need in a smaller car rather than paying over the odds for what you want. Making this choice can make you feel prudent and smart, knowing you're making a financially sound decision.

Ask

Lastly, a great way to get a better deal for your vehicle is to ask if there are any discounts. While you do not always get it, there is no harm in asking, and most dealerships will expect this as par for the course anyway. However, it's important to note that asking for discounts can sometimes strain the relationship with the dealer, and you might not always get a positive response. You might find that you don't get a monetary discount, but you get freebies and extras to sweeten the deal, such as upgrades or servicing/MOT benefits. But if you want something, the old adage applies here: "Those who don't ask don't get", so open your mouth, be a bit cheeky but respectful and see what you can get.