Tips on Buying a New Car and What to do with Your Old One
When it comes to buying a new car, there is plenty you need to consider. As well as deciding on the make and model of your new motor, there are plenty of other decisions you need to make- including what to do with your current vehicle.
Sometimes the options can seem overwhelming, so to make things easier the team at Hill Metal Recycling have put together a guide outlining everything you need to know about buying a new car, and what to do with your old one.
Should I get a car on finance?
Buying a car on finance is an incredibly popular choice, with around 80% of buyers opting to purchase their vehicle in this way. If you don’t have the cash to buy a car outright, then a personal contract purchase (PCP) finance option may be the way to go. This kind of choice is particularly good if you’re looking to buy a new car, as they often have better rates. Bear in mind that you’ll only own the car once all your payments have been made, and remember to compare APR rates to ensure you’re getting the best possible price.
If you’re someone who changes their car regularly, you may prefer to lease your vehicle. A personal contract hire (PCH), essentially allows you to rent a car, for a small deposit, for a period of one to three years. Once the time period has expired, you’ll return the car to the dealership. Owning the car is never an option with this kind of deal.
Take some time to think about what you want from your vehicle, and what deal is best for you. For both PCP and PCH contracts, it’s important to ask about any penalty fees that may be incurred as a result of damage or mileage limits.
How to buy a reliable car online?
Purchasing a car online can be a bit of a minefield. With comparison sites galore as well as official dealerships vying for your attention, it can be difficult to know where to start.
Once you’ve narrowed down your options it is always worthwhile seeking out online buyers guides. These guides can help you with the basics such as finance options, market rates and paperwork.
As well as this, we’d always recommend taking along a reliable mechanic to check out the car with you in person. This way they can identify any issues with the vehicle before the purchase has been completed- meaning you’re fully informed on what you’re buying.
What are the best ways to sell your car?
Buying a new car inevitably involves selling your current vehicle. When it comes to selling your car there are lots of ways to go about it.
But the best way to maximise the amount of money you’ll make is to sell it privately. Doing this can provide you with up to 15% more than selling through a dealer. However, if you’re more interested in convenience than finances then part-exchange with a dealer is the next best thing. You can trade your existing car for a new one from a dealer (depending on the value of your car and its parts). If selling a car you’ve bought on finance, it’s important to settle the outstanding balance first.
You can also sell your car at auction or via a car buying website, however, it’s important to bear in mind that you’ll receive far less money this way.
When selling your car it’s always a good idea to give it a bit of TLC. Getting it serviced to iron out any faults can maximise your chances of getting the best possible price.
When should I scrap my car?
In some instances scrapping your car may be more cost-effective than selling it. If your vehicle has failed an MoT, requires repairs that will cost more than the car is worth or you’re finding it too difficult to find a buyer, then it could be time to scrap it.
We Can Scrap Your Car in Essex, London, Hertfordshire and Cambridgeshire
If you’re looking for an expert scrap metal service to handle your car, then Hill Metal Recycling has you covered. For over 25 years our team has worked alongside people throughout Harlow, Hertfordshire and the surrounding areas, taking care of all their scrap metal needs. To find out more about how we can help you, contact our team.