Buying a car is a costly expense and one that not every household or individual can afford to splurge on. It’s not just the purchase of the car either but the running of it and maintaining it beyond the initial cost you pay.

Sadly, most cars also depreciate, making it an investment that’s not necessarily great on paper but is a necessity to most who need it to get around on a daily basis. Whether that’s dropping off the kids at school or commuting to work.

Here are a few tips that will help get more from your Money when buying a car this year.

Buy a used car

While a new car does come with its own perks, it’s a cost that not everyone can afford to make at the moment. A new car often comes with a bigger deposit if you’re deciding to pay the car off over a period of time. 

It’s great to be the first-time owner of a car but from a financial point of view, you’re the owner that will lose the most when it comes to the car. Over time, the car will have the biggest depreciation in its first few years. That as a car owner looking to get more from their car, isn’t the best result you want when making your money go further.

With that being said, look at cars for sale that are available used, rather than brand new. There are plenty of used cars that are virtually brand new too, so there are a lot of options out there!

Shop around for deals and comparisons

In order to get more for your money when it comes to buying a car, consider looking at all of the deals online and offline. There are plenty of suppliers of cars whether that’s buying from local garages, official car manufacturers themselves, or on third-party sites with private sellers.

It’s useful to do your research and to shop around for deals so that you’ve got plenty of comparisons. These comparisons are great to ensure you’re getting the most for your money and seeing the market as a whole when it comes to cars available for sale.

Look at financing

Financing is a useful way of helping to spread the cost of a car. Of course, when it comes to finance, you are spending more money in the long-term but it might be more helpful to be able to keep hold of most of your capital available in cash savings, than spending it all on the car outright.

There are lots of financing options so don’t just feel like you need to go with the one being offered by the business you’re buying it from. You might find that it’s worth looking online to see whether there are any lenders that are more worthwhile to lend money from for the purchase of the car.

Don’t stick with just one car brand

Finally, don’t be afraid to just stick with the one Car Brand as this can obviously limit your budget. Make sure you shop around with different car brands, even if you’ve not owned that car brand before.

Get more from the money you spend when it comes to buying a car in 2023.