How to Make Buying Your Next Family Car More Affordable

How to Make Buying Your Next Family Car More Affordable

Let’s face it, buying a new car is expensive, and when it comes to keeping your family safe on the road, you need to make sure you find the right one. Not only does it need to be comfortable, spacious and tick all the safety boxes, but you don’t want something that will drain your bank balance each month. 

So how can you make your next family car more affordable? We’ve put together a selection of our top tips to help you with your choice:

Understand your budget

Knowing how much you can reasonably afford ahead of buying a car will help you manage and understand your budget better. What’s more, it will determine your options. 

Start by drawing up a shortlist of your main expenditures each month, this might include:

• Rent, mortgage
• Utilities
• Road tax, insurance & fuel
• Food
• Entertainment

Once you know how much you can reasonably afford each month, you need to consider your purchasing options and research new car pricing. Whatever your budget allows for, make sure you stick to it!

Know your financing options

Following on from budgeting, you need to consider how you will pay for your next family car. Will you opt for PCP, HP or a lease? Or will you pay with flat out cash? 

Today, car financing is the most popular way of buying a vehicle. Whether you want a decent second hand model or the newest motor on the block, car financing makes one of the biggest buying decisions of your life more affordable. 

You can expect to place down a 10% deposit before paying off the remainder of your balance in smaller monthly repayment. While a personal loan is different to a lease, most financing options offer a buy out at the end where you will own the car outright at the end of your contract. 

However, while finance deals are incredibly popular, applicants with a bad or poor credit score may get rejected. Fortunately, there are bad credit car finance lenders out there who specialise in getting you back on the financing ladder and will help you repair your score while you get to drive away in your next car.

What type of family car do you need?

Before you make your way down to your nearest dealership or start contacting private sellers, you need to think about what type of car you will need. We don’t just mean make and model either! 

It might be that you are already growing your family, or you’ve recently had a pleasant surprise! Either way, you need to find a car that will not only fit your newborn baby comfortably but allow your family to grow.  You should consider:

• Space: From having enough seats to fitting all of your on-the-go accessories such as buggies, changing bags and more, you need to make sure your next vehicle has enough space
• Safety: Newer cars have the most cutting edge safety specs around, but how safe is the car you want to buy? Check out Euro NCAP to see how safe your vehicle really is!
• How many children do you plan to have? OK, we’re not saying plan out your entire family story, but having a rough idea of how big your family will one day be will help you choose the best car for you
• What kind of driving you will do: Whether you like family road trips, want to keep up with your kiddo’s next big adventure or simply want to manage the school run without breaking down, knowing what type of driving you want to do ahead of your purchase will help you to get the best car for the job!

Another point to note: While most cars made post 2002 will have two fixing points as standard, make sure your Isofix car seats will fit the car you are thinking of buying!

Think about the future

If you are thinking about buying a car that not only supports your growing family but is future proof then you need to consider more than getting the best deal at the dealership. With the UK government clamping down on fossil fuels and aiming for a net-zero emission free country by 2050, the pressure is well and truly on for choosing your next car wisely. 

Come 2030, you will no longer be able to purchase a brand new petrol or diesel car. Fast forward to 2035, and even new hybrids are off the table! 

With big brand giants like Tesla, VW and Nissan leading the charge, the next era of motoring belongs to the electric vehicle (EV), and guess what, the government wholeheartedly approves. From cash incentives to plug-in grants, you can bag yourself a real bargain if you are willing to go green. 

If an EV has caught your eye, you will need to consider:

• How you will charge your car: Can you have a charging port installed at home or have access to one at your workplace?
• Distance: While range anxiety is becoming less of an issue as manufacturers come with more rigorous battery data analytics to make powerful batteries widely available, you will need to consider how far you plan on driving. Don’t worry – we don’t mean how much driving you will do in your lifetime! Rather, how far your average journey will be? Will your EV cover the mileage on one charge, or will you need to re-charge en route?
• Is electric cheaper than fuel overall? The traditional answer to this question is of course, yes! But you need to weigh that up for yourself. With fuel prices soaring higher and higher, hooking up your motor to your electricity overnight will save you a small fortune per year.

Make sure you book a test drive

Perhaps one of the best ways to find out if the car you have your eye on is the one for you, taking your future motor out for a spin ahead of buying is essential. Not only will it let you get a feel for how well it handles on the road, but you can listen out for any telltale engine issues, test how comfortable it is and start to imagine your whole family in tow.

If the seller refuses to let you have a test drive or doesn’t answer your questions well, then this isn’t the car for you. What’s more, you don’t have to commit to a sale if you are unhappy with anything. Simply walk away. 

Growing a family is an expensive, but joyous experience! By doing your homework ahead of the dealership, you can bag yourself a real bargain when buying your next family car. What vehicle will you drive away with?

Guest Article. Contains sponsored links.