Do your 2014 dreams consist at least partly of cruising down the open road in a swanky new motor? With Experian research finding that a third of Britons are setting their sights on buying a new car in 2014, you wouldnít be alone in that.
But while many of us dream of owning a vintage Aston Martin · la James Bond or an ultra-modern BMW i8 hybrid, in real life the most popular cars tend to be the most practical ones ñ itís no accident that the Ford Fiesta and Ford Focus have just topped the best seller charts yet again.
But thereís more to value-for-money than a low price tag. These buyerís tips could help you sort out what to look for ñ and what to avoid.
Any colour as long as itís blackÖ or silver – A recent survey of its members by the AA showed that most of them owned silver, blue or black cars. It also indicated that silver and black were the most saleable colours when it comes to passing the car on.
Unnecessary gimmicks are a turn-off – Extras such as sports suspension, CD changers and entertainment systems, built in sat-nav, night vision, mobile technology and upgraded mirrors and seats are usually pricey but go out of date quickly and donít have much pulling power when it comes to resale.
Manual vs automatic – Manual transmission is still the norm in the UK ñ 75 per cent of new cars sold last year were stick-shift ñ but automatics are gaining in popularity, albeit fairly slowly. An automatic can use up to 10 per cent more fuel, though, and can be more costly to maintain, so if youíre concerned about running costs stick to a manual.
Make sure the price is right ñ Itís worth working out what you can afford, and how you want to pay, before setting foot in a showroom. If youíre relying on a loan or finance, youíll also need to ensure your credit score is in decent shape before you apply.
Taking the time to understand your financial situation is the first step on the road to realising your dreams, which means not only budgeting the money you have now – but also reviewing any outstanding money you owe and planning ahead to be able to secure any credit you may need into the future.
If you do find that your financial situation or credit history is getting in the way of achieving your 2014 dream, the most important thing is to deal with it as soon as possible. You need to understand your finances in order to take control of them. Your Experian credit report can give you an invaluable insight into your credit management over the last six years, highlighting the positive and the negative influences affecting our credit rating. You can see your Experian Credit Score and report with a 30-day trial of CreditExpert – and you can get help finding deals that suit your credit profile.
– Content / Article provided by Experian ñ links to Experian CreditExpert are placed for promotional purposes –