Spring is very much the time for new beginnings; fresh flowers are growing; the snow is fading, and new registration plates are out. But is it the perfect time for a new set of wheels? Find out the best time to buy a new car by answering the following questions…
What is the value of your current car? Most of you considering the best new car deals will have one eye on the value of your current vehicle. If you’re buying a new car, do you have to sell the one you currently drive? If so, you’ll need to know how much it’s worth now, and how much it will be worth a few months down the line.
It might be that your vehicle is about to depreciate heavily over the coming months, especially with new car registration dates fast approaching.
There are many factors to car depreciation, including mileage, condition, new models and trends. Diesel vehicles, for instance, are losing their value quicker than ever before due to the relatively negative press diesel has been getting recently. There are plenty of sites out there that allow you to value your car, including We Buy Any Car, SellCar and AutoTrader. A useful exercise is to value your car in its current state, as well as how it will be at latter stages. This will determine whether it’s worth buying a new car now or later on. Remember, you will always get a better deal selling it privately than trading it in. It just depends how much you value the time saved on not handling the sale yourself.
Is it worth fixing my car? Your car has just been diagnosed with yet another fault, only weeks after you last got it fixed. We’ve all been there. The question is, when is it time to stop spending money on maintaining your current vehicle and swapping it for a newer model?The average Brit spends £700 a year on car maintenance. If it ever gets to the point when you are paying much more than this, or the costs of repair are greater than the value of the vehicle as a whole, it’s time for a new ride. This applies unless, of course, your current vehicle holds such sentimental value that you believe it’s worth putting yet more money into keeping it alive. This is where our new car lease dealscan come in handy. When leasing a new car from Just Vehicle Solutions, all maintenance and MOTs are covered, meaning you never have to worry about fixing those pesky electronics or clutch again. If you constantly find yourself at the garage, consider paying for that one final fix and cutting your losses before you have to pay for the next one. This way, you have more money to put towards a brand-new car deal. Another added bonus of brand-new cars is that they are incredibly more reliable than used vehicles.
How many miles should I do before I sell my car?
According to the Government’s 2015 National Travel Survey, the average motorist drives 7,900 miles a year, which works out at around 650 miles a month. Mileage tends to be a key factor in the resale value of a vehicle; the more it’s done, the less you will receive when selling it.
The good news is that, down to enhanced technology and better mechanics, new vehicles now last a lot longer, with some able to travel over 200,000 miles. However, this all depends on how its owners have treated it over the years. The actual average life span of a vehicle, according to Consumer Reports, is 150,000 miles. There is no strict rule in terms of a specific mileage point to hit before selling your car. The actual condition of the engine, electronics, wheels and so on play more of a deciding factor. When considering buying a new car, it’s more important to consider the buying habits of the average used car consumer. Most buying guides will tell you that “if a car has 110,000 miles or more, it is better to avoid purchasing it.” Think about the average target market of your particular model, if you own a Vauxhall Corsa, for example, you’ll know that this may be especially of interest to those buying their first car. These people will be looking for an affordable yet reliable vehicle, so it may be best to sell it before it gets to 110,000 miles, for instance. If, however, you own a more traditionally reliable vehicle, like a Land Rover or Volvo, there is no harm in waiting and travelling more miles before selling.
How old is my car? Research suggests that the average life of a modern vehicle is 11.4 years, while the average length of time owners keep their vehicle is around 6 years.
With each year that passes, the value of your car depreciates. The depreciation costs will depend on the exact model you own, although you can discover how much the value of your vehicle is going down using sites such as WhatCar?’s Target Price. When it comes to looking for the best deals on new cars, try to avoid the fastest depreciating cars and instead opt for a vehicle that holds its value. Wondering if leasing a car is a good idea? Well, if you want to avoid depreciation costs and the hassle of trading in or selling your vehicle, it most certainly is! If you’d like to learn more about the best new car lease deals, give us a call today!
When do new cars come out? It goes without saying that if a new model of your current vehicle comes out, your car is certain to lose value rather quickly. Keep track of the 2018 car releases and new cars coming out in 2019 and get ahead of the trend by selling your car before a newer version becomes available. If you like your current car and are unsure you want to swap it for a different model, why not get behind the wheel of the newer edition on a short-term lease deal to try before you buy? New March registration plates and new models will always have an effect on the resale value of your current model, so be sure to keep an eye on websites such as Top Gear and Auto Express to keep track.
When is the best time to buy a new car?
The best months to buy a car are just before the new number plates come in, which is March and September. This is when retailers will be looking to ship their current stock to make room for the newer vehicles.
Remember to look for when a newer update/version of the model you’re after is scheduled for release. If your heart is set on a particular model but you’re not fussed about having the latest edition, you could purchase the older version once the update becomes available.
For further help finding the best deal on a new car, get in touch with our team. Our leasing experts can provide any UK make or model on a deal tailored to your specific circumstances.
What to do when changing car
Changing your car can seem a confusing process if you’re unsure of what to do. However, when stripped down step-by-step, it couldn’t be simpler.
Tell DVLA you’ve sold your car Use the DVLA online form to notify them that you’ve sold your car and that it will now have a new keeper. This will ensure that you will not be liable for any incident involving the vehicle after you’ve sold it. You will also need to inform the DVLA of your new vehicle using the same form.
Transfer your insurance It is illegal to drive without insurance. If your current policy still has time left on it, contact your insurer and let them know you now have a new vehicle. This will more than likely result in the price and terms of your vehicle changing. We recommend using a comparison site like Compare The Market to make sure you get the best deal available.
Tax your new vehicle When experiencing a change of vehicle ownership, remember to tax your new car using the gov.uk website form. This is a very simple process and can be done online. Remember, if you would like to avoid road tax, you can opt to lease a car with Just Vehicle Solutions. We take care of everything but insurance and fuel!
New Car Lease Deals
Ready for a new set of wheels? Fed up of the usual process of driving the same car for years and then having to deal with the depreciation costs? Sounds like it’s about time you gave a short-term car lease a go.