If You Want to Save Money On Your Next Car Purchase – or, Spend The Same Amount of Money and Get a Way Better Car – Read On Carefully…

By Adam Armstrong

For most guys, buying a car is the second most expensive thing they’ll ever buy. A HOUSE being the most expensive.

Yet, unlike a house – which most people buy infrequently – many guys change their cars every 2-4 years (especially now that most manufacturers offer fancy finance deals, like PCP’s, which make cars otherwise out of most people’s league, suddenly financially viable).

The question is:

“How can you save a fortune on your next new car purchase – or, spend the same amount and get a way nicer car?”

Read on, and I’ll explain a particularly good technique for you…

First off, CONFESSION TIME:

I’m a total Car Nut. A ‘Petrolhead’ through and through.

For me, a car isn’t just a means of ‘getting from A to B’ – I absolutely LOVE driving. It’s one of life’s simple pleasures as far as I’m concerned.

And, in recent years I’ve become more savvy about how to BUY cars in the best possible way, from a financial point of view.

Check this:

A few years back I got a new BMW 335d Touring XDrive for LESS MONEY than most people were paying for a 320d – which is a significantly slower, and inferior car.

How did I do this?

By seeking out the best Lease Deals.

Another example:

Just over a year ago I bought a BMW M2. On this occasion I paid FULL PRICE and had to wait 8 months for the car. You see, no dealers here in the UK were offering discounts on M2’s because it was so ‘in demand.’

However, it was still a great buy, because low supply + high demand = great residuals.

Remember that!…

…because – when I wanted to trade the M2 in for a BMW M3 Competition Pack just a year later (something that’s usually financial suicide), I did so without a problem, because the car had barely lost any money! Unlike most cars, which depreciate like a Cannon Balling dropping out of the sky, as soon as you drive them off the forecourt.

All that said, it’s the deal I got on the M3 Competition Pack that I just mentioned, that I’d like to tell you about in detail. Because it’s one of the smartest ways to buy a NEW car, save a small fortune, and full pretty damn SMUG in the process.

Read on carefully…

The Secret of Pre-Registered Cars – and Why It Saves You A TON of Money…

When I traded the BMW M2 in for the M3 Competition Pack it was not a LOGICAL decision.

After all, the M2 was still very NEW – with only 11,000 miles on the clock. And, I really liked it.

But, I’d recently done a day of advanced driving, and the instructor told me that the M3 Competition Pack was like the M2 “turned up to 11!”

He also described it as “angry” and “savage”.

Of course, once I heard that – I had to have one!

But, here’s the thing…

I wasn’t prepared to pay a penny more each month for the M3, than I was paying for the M2. If I couldn’t make that a reality (or at least get close to paying nothing more), I’d keep the M2.

A brief bit of research showed that BMW were coming close to the end of production of the M3 Competition Pack (at the end of 2017), because of some crazy EU emission legislation, and the fact that a new M3 is due out in 2020.

However, this didn’t bother me – because BMW have a history of making the M3’s better as production goes on. So, I’d rather have a late M3 Competition Pack (which is getting great reviews), as opposed to a new 2020 M3 which will likely be the worst of that generation of M3.

Searching the classifieds, I quickly realised that many dealers had M3 Competition Packs that they’d PRE-REGISTERED.

Newsflash:

When you see ‘PRE-REGISTERED’, a DEAL is on!

All ‘pre-registered’ means is that the DEALER has registered the car, and is considered ‘the first owner.’

So yes, you lose out on being ‘owner number 1’ – but, the dealer’s only put a handful of miles on the clock, and you save A FORTUNE.

Here’s the Math on the M3 Competition Pack I ended up buying:

• List Price: £67,987 (so, not a small figure)

• Park Lane BMW London Price: £49,987 (over 25% OFF)

• Mileage on the car at time of purchase: 7 (yes, just 7 miles)

• Date registered: December 2017

• Date I purchased it: January 2018 (meaning I lost 1 month of warranty. But worth it for 25% OFF, right?)

Now, here’s where it gets interesting…

Despite the 25% saving, the figures BMW Park Lane quoted me, using BMW Finance were still well over budget. They wanted £800/month (with £1,000 deposit down).

Way more than I was paying for the M2, which was costing me £630/month).

So, here’s what I did next:

I went to Oracle Finance – the biggest independent financer of prestige cars here in the UK. I gave them the details of the car I’d found, and – after taking my details – they came back with:

£670/month (with NO DEPOSIT).

Just £40/month more than the M2, to drive a car worth about £25,000 MORE! As well as being more practical, faster, and more fun to drive.

Crazy huh!

And, to put that in perspective, a Renault Dealer in Scotland once quoted me £670/month, with £2,000 down, to buy a Renaultsport Megane which was worth under £30,000

Madness.

Just shows what you can SAVE if you get savvy when buying a new car.

Key Points to Remember:

• Don’t think only in terms of ‘New’ or ‘Used’ when buying your next car. Consider ‘Pre-Registered Cars’ as well (all you lose is being ‘owner number 1’ – the dealer gets that privilege. But, you save a fortune – 25% in my M3 example above – and the car is basically NEW anyway… in my case the dealer had put 7 miles on the clock)

• Once you find a car you like, don’t just accept whatever finance package the dealer initially offers you. Because they often ‘try it on’, big time. Haggle, haggle, and haggle some more

• If the dealer’s finance isn’t as good as you want, try an independent finance company. Not only do they often give better interest rates, the other benefit is THIS… once they have your details, getting credit for future car purchases is EASY (you don’t have to go through the ball ache of giving them all your details every time)

• You won’t find Pre-Registered Cars from all manufacturers. For instance – Porsche and Ferrari just don’t offer this kind of deal. But, many prestigious brands do – including BMW, Mercedes, Audi and more