Tag: saving money

Is there such a thing as a best time to buy a new car?

So, you’re looking to buy a new car. Why wouldn’t you? After all, there are many advantages to buying a new car. You get to play with all the latest technology and gadgets that the automotive industry has to offer. Your car will last longer. And you’ll be the envy of the roads in your latest motor. But when are you planning to buy this car? And is there a best time to buy a new car?

From number plates, car model renewal, and dealership incentives, we show you how to work out when you should buy your new car: 

Should I wait for the plate?

New number plates are issued twice a year in the UK. This happens once in March and then again in September. Number plates from the start of the year will take their numbers from the last two digits of the year.

After September, 50 is added to these digits to differentiate when the car was registered. Therefore, in 2021, cars registered after March will have a 21 plate, and a 71 plate after September. But how much does this affect your vehicle’s value, and should you wait until the next set of plates are released?

This depends on how you intend to use your car and when you plan on selling it in the future. The average car building a mileage of 10,000 miles per year will lose about 10 to 40 per cent of its value in the first year, and then 50 per cent of its value over three years. Therefore, waiting for the new plates to be released can give you some more selling power. You may have to wait just a month, but your car could be classified as up to six months newer.

Meanwhile, if you’re looking to save money now, you may want to buy a car before the new number plates are released. A newer number plate carries some prestige, and increased demand may lower your chances of saving money.

If you’re not interested in sporting the latest number plate, buy a car just before March and September instead. You’ll have an immediately older number plate, but you may have a heavier wallet left to buy any little extras for your car.

Is there a new model coming out?

Do you want all the latest features and gismos in your new car? Then you will want to consider what model car you are buying and when it was released. Cars will usually update and renew themselves over a seven-year period, with a semi-upgrade halfway through the cycle:

  • Year 1 – A new car model is introduced
  • Year 2 – Minor change are made to fix any teething problems
  • Year 3 – Some upgrades, including materials and technology
  • Year 4 – Minor changes or updates
  • Year 5 – No changes, but may have buying incentives
  • Year 6 – More incentives to buy as a new model is announced
  • Year 7 – Model is completely revamped. The cycle starts again

Again, deciding when to buy a car depends on what you’re looking for when buying a new motor. Do you want the latest upgrades, or do you want to save money? If you’re looking for upgrades, you may want to buy your car in year 2, after any teething problems have been ironed out, or after the mid-cycle update.

If you’re looking to save money, buying a new car on the fifth or sixth year after its release may be a more economic choice. Manufacturers will likely want to move stock quickly before the release of the next model, so you may be able to negotiate a lower price or take advantages of other incentives, including free or reduced car accessories.

Dealership deals

Just like any other retailer, car dealerships such as Volvo Guildford will also have a sale period, where there are a number of buying incentives to take advantage of. These periods usually fall in line with what we would expect from sales: they often take place on bank holidays, on Boxing Day, and on other retail holidays such as Black Friday.

Find out what your local dealership is offering and how it could help you save. Incentives may also be offered more towards the end of the year when sales quotas are closing. You may be able to find a great deal on a new car and take advantage of incentives during this time as dealerships try to meet and exceed their targets.

When shopping for your next car, make sure you’re buying at the right time. Whether you’re looking to save money or have fun with all the best technology, it’s clear that there are advantages to waiting for the perfect moment.

Cut energy bills? That’s IDEAL

Changeworks has partnered with the University of Edinburgh to deliver IDEAL, a cutting edge research project exploring how smart technology can help save energy in the home. They are looking for Edinburgh households (EH1-EH17) with gas combi boiler heating to participate.

The benefits include:

·        Gaining insight into your home energy use

·        Receiving a free android tablet used to display energy use information

·        Receiving tailored advice from University of Edinburgh experts

·        Hopefully saving money on gas and electricity bills

For more information visit changeworks.org.uk/projects/ideal

To get involved email your name, address, and contact details to IDEAL@changeworks.org.uk, or call 0131 539 8610.

Power to Switch: government encourages energy consumers to shop around

A new government campaign has been launched to encourage consumers to shop around for the best energy deals

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13.5 million households across the UK are missing out on their share of £2.7 billion by sticking with their energy company, according to the Department of Energy & Climate Change. They say that by shopping around and taking advantage of the best energy deals on the market, millions of people can save around £200 – and some can save even more.

The ‘Power to Switch’ campaign, launched today, encourages people to switch supplier and save money by visiting www.BeAnEnergyShopper.com. With 26 energy companies on the market and some fixed deals £100 cheaper than they were a year ago, there’s never been a better time to find a great deal, switch and save.

Launching the campaign, Energy and Climate Change Secretary Ed Davey said: “When it comes to switching, the power is in people’s hands to get a better deal and save. We’ve reformed the market so that there are more suppliers, more competition, and a much faster and simpler process to switch. That means millions of people can switch supplier and save hundreds of pounds today.”

Energy and Climate Change Minister Amber Rudd said: “We’ve already taken £50 off bills and now we’re urging people to take advantage of the most competitive energy market we’ve ever had to save hundreds of pounds. With Ofgem’s strengthened Confidence Code for price comparison sites, people will be able to have greater confidence than ever before that by switching, they’ll see real savings.”

The Government’s programme of energy market reform includes:

  • Halving switching times – it now takes only 17 days to switch energy supplier down from 5 weeks last year;
  • Encouraging new suppliers on to the market – there are now 20 independent suppliers;
  • Legislating to back Ofgem reforms that force energy companies to make energy bills clearer – and providing information for customers about how to switch.

Ofgem has recently strengthened its Confidence Code for price comparison websites, setting tighter standards on how tariffs are displayed with websites given until the end of March to comply.

Martin Lewis, Money Saving Expert, said: “We need to shout loud about the benefits of switching tariff. Too many people think energy firms are ‘all the same’. That’s far from true, there are huge differences on both price and customer service.

“The worry is that news of recent price cuts, even though they were paltry, will have given many false confidence that they’re on a decent deal. Examine the figures and the ugly truth is very different.

“Even after price cuts, someone on a Big 6 supplier standard tariff with typical use will pay £1,158 a year, whereas switch to the cheapest tariff and they’d pay just over £900 a year. So it’s worth people taking 10 minutes to see if they can save themselves £250 ― at an hourly rate of £1,500 if someone else was offering this to you as work, would you turn it down?”

The ‘Power to Switch’ campaign will run for four weeks and will include national, regional and online advertising, encouraging people to switch and save.

For more information about how to switch energy supplier visit www.BeAnEnergyShopper.com or call the Energy Saving Advice Service on 0300 123 1234.