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Did You Pay Heed to These Financial Tips to Buy a Car Before Christmas?

Financial Tips

If you invest in a car, it is not a simple and steady process. In fact, it has multiple procedures which you need to follow. However, yes, if you think about when to buy a new car, it depends. There is a popular conception that Christmas is the appropriate time to buy a car. This is what we see every year when car sellers see a hike in car sales. It is also because this is the time for the year-end. Generally, at the year-end, the time for clearance, the huge sale takes place. As a result, almost every high-end product, primarily cars, become comparatively cheaper.

Pick the right season to buy your car

Another thing to note is that you can get some amazing car deals during national holidays and Halloween. The best sales, promotions and incentives don’t need to be allotted on any exact holiday. It can take place anytime and at any given moment. However, there is a higher probability that you can avail some of the best car deals during Christmas and New Year’s Eve.


There are specific financial tips that you can implement before purchasing a car during Christmas. It will help you get a better insight into buying cars as a whole.

Analyse your financial condition

If you decide to buy a car, the first and foremost thing to remember is to analyse your financial conditions. From buying vehicles to purchasing a house, you need to understand your income and expenses properly. Likewise, you have to be aware of how many loans and other instalment facilities you can avail of.

It would be best if you were very patient to buy a new car. Since cars always stay on the verge of depreciation, there is a chance that you can get early deals in no time. As far as Christmas is concerned, you can get a car at an affordable price for other factors. It is because there is a fixed quota for all the salespersons in the scene. This quota can range from monthly targets to quarterly targets, from half-yearly targets to annual targets. As a result, they will aim for their sales at first.

The salespersons also need to show their sales reports as smooth as they can. They use this opportunity to sell at affordable prices to the buyers. In return, the buyer gets a significant chunk of privileges to their fullest. If anyone thinks to avail of instalment schemes, they are good to go. Nevertheless, it is always advisable to buy in cash upfront!

Gather a big deposit amount

You know what this is going to talk about. Yes, it is something very important, in fact, most important for a car purchase. Most of the lenders that provide car loans or car finance can fund a maximum of 80% to 85% of the total price of the vehicle. Working on a deposit is also more vital if you want to apply for guaranteed car financing options that offer assured approval on funds.

It is not necessary to empty your savings to pay a big advance amount. You can create a separate account for this purpose. For example – keep a separate account where you can only add some money for car deposit for the next 6 months or 1 year. That should always work if you follow the discipline and do not spend on the less important things.

With self-discipline and timely planning, you can always buy a car whenever required. One more critical suggestion, never take a loan to pay a deposit. It shows as an obligation in your credit records. In that case, the creditworthiness may get affected, and rejection may happen.

Keep a good credit score

When you buy cars at these times like Christmas, you need to ensure that your credit score is good. A proper credit score will give you a green signal to quickly buy your dream car for yourself. To keep a proper credit score, you need to keep repaying your loans in time. The salesperson and the employees of the company will check your track record in terms of getting the loans repaid on time.

To tell you more, the salesperson might check your monthly salary or any salary hike. Although this case is pretty rare, it is always better to stay on the safer side. It is pretty evident that you can also buy a car at Christmas with a poor credit score. There are bad credit loans in the UK offered by direct lenders for car purchases. It is possible if you opt for a smaller amount as a loan. Moreover, you need to find a suitable and cooperative lender who will try to understand your financial conditions in spite of other issues. However, there is a plus point.

If you buy a car during Christmas or any other national holiday, you can definitely get a higher chance of getting that car. It is because there will be a clearance sale going on. The company personnel will definitely expect to clear the products as fast as they can. The new vehicles will arrive at the showroom for the New Year sales.

Buy in full cash

While investing in a new car, it is always advisable to purchase it in cash. The reason being, if you are buying in any mode of instalments, you need to pay an extra amount of interest. This amount can increase up to 10 to 12 per cent compared to the original selling price. Thus, it is better to ensure that you choose to buy the car in cash itself.

During Christmas, the procedure for buying a car in cash becomes an easier process. It is because the price drops drastically during that moment. Moreover, buying it in cash gives you complete assurance of a smooth transaction between buyers and sellers. There are certain benefits if you buy cars in cash. They are:

A hassle-free way to purchase: If you buy a car in cash, especially during Christmas, you will not have any further expenses later on. Moreover, it is not that you need to buy a high-range car. You can buy a car that will serve your purpose with good mileage. Thus, there can be more options like buying using credit cards. But credit cards increase the chance of haphazardness. You eventually enter into a stage of panic and nervousness. To avoid this issue, paying with cash becomes the safest option.

Freedom to take small loans in future: A long term loan can always dominate your approval chances of a small loan. Whether it is a payday loan, instant business loan, poor credit loan or any other one, car finance is a significant obligation. It may make you fail to obtain funds for a temporary but urgent financial need.

No involvement with banks: Paying upfront using cash saves you directly or indirectly getting involved from the bank authorities. Moreover, it would help if you also ensured that there is a stable source of income from your end. The concern of safety and security does not get raised.

It is great not to have pre-existing instalments

Taking loans have become a meagre task these days. There is almost nothing you buy without loans, from medical loans to educational loans, from home loans to automobile loans. Multiple loans and pending debts are never good for future financial plans.

To cater for your requirements, there should not be many pre-existing instalments going on. It is because the sellers would not be able to get convinced about getting relied upon. The lesser the pre-existing loan amount, the higher the chances of giving you a better loan opportunity.

And as far as Christmas is concerned, buying a car is one of the best ideas. Since many vehicles remain unsold, the company prefers to clear all the cars in an instance. It will help the company to generate a clean audit report as well. Moreover, your time for getting maintenance services and the warranty would not get affected by any chance.


Thus, looking into the broader perspective, you can opt for buying a new car during Christmas. Along with that, with all the other national holidays and Black Friday, you will get some amazing deals as well. Since there is no additional chance of getting better deals, you need to chalk out and analyse the best time. Hence, buy a perfect car for yourself to live your dreams and fulfil your aspirations. Moreover, you can take your family as well to live according to the expectations.

Did You Pay Heed to These Financial Tips to Buy a Car Before Christmas?

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