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Thursday, February 29, 2024

‘It’s easy to get caught up’ – expert reveals how drivers risk losing £1000s on new cars if they don’t pay attention

CAR buyers have been warned they could lose huge sums of money when putting a deposit down on a new whip.

The warning comes from the Motor Ombudsman – who stated one thing driver’s must do before parting with hard-earned dosh.

A quick money health-check could save you thousands before buying a new car

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A quick money health-check could save you thousands before buying a new carCredit: Getty

The Ombudsman – which self-regulates the UK motor industry – penned the helpful advice on their website.

They warned driver’s that when dealerships sell a new car they often require an upfront deposit to show the customer’s commitment to the sale.

But before dropping the deposit down, soon-to-be new car owners should always make sure they fully understand the terms and conditions of the fee.

As reported by the Express, Chief Ombudsman and Managing Director of the Motor Ombudsman, Bill Fennel, said: “It can be easy to get caught up in the excitement of putting in an order for a new car, and to forget the essentials.

“It is important for both buyers and sellers to be clear about the terms of the deposit, as this will help prevent any disputes later down the line if all parties are clear on the terms of the transaction from the very beginning.”

But as well as the above, a basic rule of thumb should be to make sure you can afford the car as deposits cost thousands of pounds – which is not a figure worth losing with the current cost-of-living crisis.

They advised doing a quick check on whether or not running the car, and maintaining payments was affordable long term.

Things to consider are fuel costs, road tax, insurance and the monthly fee of the new motor.

So, before parting with a small fortune, check the terms and conditions and make sure that any term that is confusing is explained in writing by the dealer – which only takes a simple email to them before signing on the dotted line.

It’s not the only tip being offered up to new drivers, and this news comes less than a month before the 24 number plate is set to be released.

So now could be the perfect time to recap on the best ways to save dough on your current, or soon-to-be-copped motor.

MORE MONEY-SAVING TIPS

‘They’re great if you’re struggling’ – car expert reveals three motors that could save £100s in insurance

Mo from Behind The Wheel has put Brits in-the-know on three cheap-as-chips whips that could save hundreds on insurance payments.

And, savvy car expert Grant, who runs the Scottish Car Clan YouTube channel, listed some wallet-friendly motor options.

The “super reliable” cars cost less than £4,000 and include roomier SUVs and estates.

Finally, this expert revealed the best tips when dealing with car dealers – including what not to say when opting to buy your chosen car.

He said that one “cheeky” word of advice can save car-buyers a small fortune.

They said to pay close attention to the car purchase's terms and conditions

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They said to pay close attention to the car purchase’s terms and conditions



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