The current economic climate has not only had a dramatic impact on the vehicle sales market itself, but also on the amount of money a consumer is prepared to pay when acquiring a new or used car.
For those lucky enough to have access to private or government auctions, there are still plenty of chances to pick up the bargain of a lifetime. Unfortunately, many of these auctions are restricted to selected or trade purchases meaning the man in the street has to look elsewhere when it comes to saving money on his next vehicle.
Because of the current recession, buyers shouldn't necessarily write off the possibility of buying a new vehicle if they have a healthy budget to begin with. New car showrooms are offering the types of deals that have seldom been seen before to try and move new models off of their forecourts.
Cash buyers won't actually be able to name their price, but they should be able to shave up to a couple of thousand pounds off of the asking price as well as having non-standard items fitted for free. Even finance is made attractive with 0% credit options spread out over a longer repayment period.
Second-hand traders are also struggling to move their stock. Many used car outlets offer extended warranties and a comprehensive series of pre-sale checks to ensure the vehicle for sale is in excellent working order. A cheap price with a good after-sales package can prove to be a very cost effective purchase.
Private used sales are an even better proposition. Many owners are literally desperate to sell because of their own financial obligations so getting the vehicle you want at the right price is becoming increasingly easy.
When purchasing privately, it really pays to take somebody along to check over the car that has a sound mechanical background. The vehicle should be thoroughly scrutinised for engine leaks, brake and tyre wear, dents and scratches to the body work and any other fault that may need money spending on in within the next few months.
Finding faults shouldn't necessarily mean the car shouldn't be purchased, as the costs of repair can be used as an effective bargaining tool when the time comes to negotiate a price.
In the current climate, a buyer should never be afraid to barter over the price of a vehicle. Effective use of body language, feigning disinterest and making a big deal over the 'imaginary' car you looked at earlier that was considerably better are powerful tactics that can drive a price down to rock-bottom levels.
Be prepared to invent partners who wouldn't like the vehicle anyway, and be very meticulous over shoddy body work. Touch dents and scratches to make sure the seller knows you've seen them.
Have a price in mind, and don't go above it of you really feel that the car isn't worth it. There will always be other cars, but there might not be another chance to drive off with that satisfying feeling of knowing you've just secured an absolute bargain.