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HOW TO SAVE MONEY ON A BRAND NEW CAR '08

Many motorists are paying too much for new cars

Monday May 5,2008

EAGERLY awaited ’08 registration plates are here but, according to research conducted by esure car insurance, motorists could end up paying over the odds for their brand new car because they’re simply not doing their research.

If you’re itching to get behind the wheel of a new ’08 plate – make sure you follow these four top tips from esure car insurance and you could save yourself pounds.

1. Negotiate a bargain

It seems that Brits are more likely to drive a hard bargain at a car boot sale than in a car show room. But the price of a new car is never set in stone so make sure you haggle. Try to get the best price you can for part-exchanging your old car too, by checking its current market value before you step onto the forecourt. Or, if you’re prepared to be patient, you might make more money by selling it privately.

2. Cut the cost of car insurance

Don’t be seduced into buying a car before you know how much your car insurance will cost. Things like the insurance group, security features and your annual mileage can all affect how much you pay for your car insurance . So, shop around for quotes before you sign on the dotted line. Price comparison websites such as gocompare.com make it quick and easy. Or you can get a quote at www.esure.com where new customers can save money by buying online and could receive up to 70 per cent no claim discount if you have five years of claim-free motoring.

3. Find the best finance deal

Many Brits spend more time researching the make and model of their car than they do working out how to pay for it. But seeking out the right finance deal is just as important if you want to save money. Don’t feel obliged to accept finance from your dealership. Compare loan deals online and make sure you fully understand all the costs and charges involved so you get the best deal to suit you.

4. Reduce your motoring costs

Before you buy that brand new 4x4 make sure you think about your everyday running costs. You can save pounds in the long run if you consider factors like mpg2, road tax, C02 emissions and the cost of servicing and spare parts.

Mike Pickard, from esure car insurance says, “It’s crucial for all motorists looking to buy an ’08 plate to do their homework, shop around for the best deals and be both confident and clued up in front of a salesperson – or pay the price.”

** All research quoted is based on an ICM Poll involving the interview of a random selection of 1049 people aged 18+ by telephone between February 8 and 10 2008. 2 Miles per gallon.