Money saving tips 1

Published on April 21st, 2014 | by richard

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How To Buy A New Mazda MX-5 The Smart Way

The Mazda MX-5 is one of my favourite sports cars and is up there with other favourites such as the Jaguar E-Type and the Volkswagen Scirocco. Although I already have a car (sadly not an MX-5 or even a sports car!) I am seriously considering buying an MX-5 in the very near future, and joining the ranks of those that own two cars: a “fun” car and a “workhorse”!

If you are considering buying a brand new Mazda MX-5 sports car, there are a few considerations that you should make in order to be a savvy shopper! Here is what you need to know.

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Timing

When it comes to buying a brand new car, timing is everything! Although they might want you to know this, car dealers typically offer great deals to customers on brand new cars towards the end of the month and especially towards the end of a financial quarter.

This is because, like with all sales-driven operations, there are selling targets that car salespeople need to meet, and they often have the authority to negotiate on price or add a few “sweeteners” to the deal in order to make you sign on that dotted line.

 

If you head over to a Mazda dealer at the beginning of the month, you are likely to get no deals on your new MX-5, so it’s important that you time your purchase well. According to Romford Mazda, different Mazda dealers can run different promotions so it is worth checking out what’s going on in your local dealers before deciding whom to buy from.

Decide how you are going to pay for your MX-5

Next, you will need to have a think about how you want to pay for your brand new Mazda MX-5. In its simplest forms, there are three basic ways to pay for a car: cash, finance or leasing:

  • Cash purchases can be made with a debit card (you obviously don’t want to be walking around in public with over £18k in cash), and are often the cheapest and easiest ways to buy a car;
  • Most people tend to buy their brand new Mazda MX-5 cars on straight finance (also known as Hire Purchase). With this payment method, you put down a cash deposit of 10% or so, with interest added to the balance and that remainder then gets spread over 3 or 5 years. After this time has elapsed, and all payments have been made, you own the car;
  • Some people prefer to get their hands on the latest models, and so can opt for a lease instead. Leasing is like hiring a car on a long-term basis, and whilst you still have to put down a cash deposit, you can simply hand the car back after 3 years or trade it in for a new model again.

Negotiate on options

Just because you are buying a brand new car doesn’t mean that you can haggle on the price, and one aspect that you can haggle on is the optional extras. It’s best to do this closer to the end of the month, as you might even get some extras thrown in for free!

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