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Things to Remember When Buying a New Vehicle or Selling A Vehicle

If you are going to spend extra money to benefit from a new vehicle there are a few things that you should bear in mind before signing on the dotted line or parting with any money. You will have a warranty that is backed by the manufacturer and you won’t have to take the vehicle for an MOT for at least 3 years but do beware of hidden extras and the fact that new vehicles depreciate the second you drive away.

Budget Matters

In the excitement, you need to ensure you budget properly. To do this look for a vehicle you intend to keep for at least three years as this will help you to spread the depreciation cost. Don’t forget to include the cost of road tax, insurance and fuel in your calculations and if you take out a loan shop around first for the best price. Calculate the vehicles tax to ensure it is affordable for you.

Haggling

If you want to get the best deal on your new car haggling can be your best friend as just because it is new and the price is printed, do not assume it’s not open to negotiation. Check that the information is available and agreeable in regards to delivery or collection before making a payment. Don’t feel you have to buy because of pressure from a dealership. If you are not happy walk away, you are not bound to buy no matter how long they spend with you.

Know your rights

Since consumer rights replaced the sale of goods act, many new car dealerships will find there are different laws they have to follow for the sale of their goods to be legal. These rights include the buyer being able to get the full money back they paid for the vehicle should there be any faults within the first 30 days. After this point and up to 6 months later you do have the right to attempt repair of the fault before being held to refunding. If this fails or more problems occur they are entitled to a full refund minus the money lost during their time of ownership.

After the six months have expired it is no longer up to you to make the repair unless the buyer can prove that the fault occurred at the time of purchase/delivery. The act is applicable to all vehicles sold by a registered trader. Private sellers are not held by these laws but others that are unique to private sales.

If you purchased the vehicle to sell on and have found that it has faults within the time scale as given above you also have the same rights as anyone you sell to. Any contracts signed before October 1st 2015 are still held by the previous rules of vehicle sale. Before selling new cars familiarise yourself with the new laws to ensure you are not accountable for any charges brought against you by future buyers. This write up was written by the King of Car warranty insurance in the United Kingdom. Without a doubt the best car warranty insurance company ever opened – www.click4warranty.co.uk. Based in London, UK, this is one of the top 3 car warranty and extended car warranty insurance companies in the United Kingdom.