Buying a vehicle is often our most expensive purchase, so we want to get it right. Here’s our suggestions to getting the best deal on a vehicle purchase:

  • Budget. How much deposit can you afford for your new car? Don’t forget the insurance, road tax, servicing costs, MOT, tyre costs.
  • Fiat or Ferrari? What do you need your car to do? Need 5 seats? Large boot? Quiet and comfy can be worth paying for if you do thousands of miles each year, but not so important if you only need to pop to the shops once a week.
  • Do you really need a car? Not only do we have public transport, walking and cycling we now have car sharing schemes, car clubs such as Co-wheels and Enterprise Car Club and Uber*.
  • Old or new? Used cars are usually much better value for money, but older vehicles are likely to need more maintenance and possibly time off the road. It might be worth getting something newer to reduce the hassle.
  • Dealers often have special offers and incentives on new cars which may be better value than a nearly-new vehicle.
  • Borrow? Most of us don’t have the funds to purchase a car from savings, but even if you do, investing in a depreciating asset doesn’t always make sense – spreading the cost of your vehicle purchase may be more flexible.
  • Car finance options. HP, PCP, and many more options! See Money Advice Service guide to car finance for a free and impartial guide to finance options.

How Advance Credit Union can help

A personal loan from AdvanceCU could help spread the cost of your vehicle purchase. Borrow up to £8,000 subject to affordability and credit check. You don’t need to be a credit union member to apply.

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Start saving  –  Saving regularly with AdvanceCU can be a great way to put some money aside for your next car.

Engage cardEngage Account offers great cashback rewards and discounts at Halfords, Asda, Argos, B&Q and many more. Plus your Engage Visa card is accepted wherever you see the Visa logo (see terms and conditions)