As you may well know, New Look Loans are the experts when it comes to guaranteed car finance in Hull – anything we can do to make purchasing your dream car become a reality is the nature of our business. However when buying your first car it may all seem a little daunting and there may be a few extra costs that an experienced car-buyer would take into account that you, as a first-time buyer, have not yet considered.
We’ve drummed up a few points to make certain that your first time car-buying (and car ownership) experience runs as smoothly as possible.
#1 Price of the Car
The first one of course is the price of the car itself. Once you have found a car you like, make sure you do a comprehensive car history check . Don’t be taken for a ride – even the best looking cars can have something to hide. Making all the right checks can pick up on any outstanding finance or find out if you’re about to purchase a stolen vehicle – both scenarios will end up in you having your vehicle taken away with no compensation.
If you have any doubts about the car you have chosen, you can always arrange for a mechanic to make a vehicle inspection too, to ensure that your money goes as far as possible and of course – don’t forget to haggle!
The next unavoidable cost when getting on the road is insurance. Car insurance is expensive enough as it is on top of your lovely new car and will tend to be more expensive if you’re under 25. Luckily, there are plenty of comparison sites online now so you can make sure you get the best possible deal for you. But be warned – premiums will increase or you may be refused cover if you get a driving conviction or speeding tickets so make sure you drive safe.
#3 Road Tax
To keep or use a vehicle registered in the UK it must be taxed.
To keep your costs down, you can look into variables like engine size (if the car is registered before 1st March 2001) or CO2 emissions – it may be worth looking into greener, more fuel efficient manufacturers.
If your new car is off-road for any reason, you can look into getting a Statutory Off Road Notification (or SORN).
DID YOU KNOW: From the 1st October 2014, the paper tax disc will no longer be issued and required to be displayed on a vehicle windscreen? Vehicle tax will still need to be paid but on-road enforcement will rely on using Automatic Number Plate Readers and police access to DVLA records via the police national computer.
The reality is, unfortunately that fuel is very expensive – the price of which is unlikely to fall dramatically. Fuel is very expensive and realistically, prices are unlikely to fall significantly. A good way to cut on this cost and help the environment at the same time is to opt for a car with good fuel consumption. Looking at some eco-driving tips and ideas such as car sharing, cutting the weight or not going over speed limits will also be easier on your fuel consumption
Again, another unavoidable cost, but by running some general checks before your M.O.T is due you can ensure as best you can that your car is fit to pass and possibly save yourself another fee. By ensuring that the engine has enough oil, the lights are all working and that the horn works you could save yourself a lot of hassle and extra cash. Speaking to the tester after your first M.O.T can give you a good insight to the overall condition of the car and prepare you for future checks.
#6 Running Costs
Budgeting annually for a car servicing is an essential cost – price will vary greatly depending on your choice of car. Ask around your family and friends – most experienced drivers will know and favour an independent garage to recommend you to which will save on using costly main-dealers.