How to get value for money when purchasing a new motor

There are few feelings quite like being able to get behind the wheel of that car you’ve had your eye on for months or even years, for a great price.

Many of us depend on a set of wheels for work and/or personal purposes. However, you won’t want to feel ripped off or have to fork out more than you’re comfortable with or can manage on a month-by-month basis.

So, here are some great ways to clinch the right deal for the car you want.

Prioritise needs over wants

Sure, in a complete money-no-object situation, perhaps you’d have the luxury of buying exactly the car you’ve always dreamed of, and maybe even another car for day-to-day practical purposes.

But most of us aren’t in that situation. So, focus on what you need first. Ask yourself, for instance, whether you really need a brand new car, rather than a better-value used alternative. After all, according to MoneySavingExpert, a new car typically loses nearly half of its value in the first three years.

Consider the next model down from your ‘dream’ car

Continuing the above theme, if possible, try to strike a nice balance between your needs and wants, by considering downsizing to the next obvious model. Do you really need a BMW 5 Series if a well-specified 3 Series would serve you just fine? Maybe you were initially going to get a Golf, but have since spotted a Polo that caters to 80% of your most pressing priorities for a lot less?

‘Dropping down one’ from the model you might have originally targeted doesn’t just save money on the upfront price of a car. That’s because smaller (and smaller-engined!) cars also usually cost less on an ongoing basis, not least due to better fuel economy.

Buy when the car is in less demand

You know that time-honoured money-saving tip of buying your Christmas gift wrapping for the following December in the January sales, rather than in those few urgent days before Christmas Eve? Well, you can apply similar logic to car purchases.

If you fancy a convertible, for example, wait until the colder and rainier months to make your move. Conversely, those in the market for a four-wheel-drive car might be best-served approaching dealerships in the summer.

Haggle… but with a plan

Obviously, if you buy your new motor online, there isn’t much opportunity for old-fashioned haggling. But if you do come face-to-face with a dealer, they’ll almost expect you to haggle at least a bit – it’s something of a ‘no no’ to pay a car’s list price at a brick-and-mortar dealership.

A common ‘beginner’ haggling tip is to get the dealer to throw in something for free, such as a sat nav or floor mats. Meanwhile, more confident and experienced hagglers may like the idea of getting offers from multiple dealers and playing them off against each other to land the best price.

Whether you’re a novice, intermediate or advanced haggler, do at least have a plan. Research price ranges for the given car for different mileages, and have a set price that you refuse to go over.

If you need finance, approach a broker

Not all of us have the money to pay for a new car sitting in our bank accounts. So if you do need to borrow, consider a personal loan from your bank or building society – ensuring it is not secured against your house, given that this would put your home at risk if you fell behind with repayments.

Alternatively, look to a car finance broker, which doesn’t lend you the money directly, but instead calls upon a panel of lenders to present you with the most competitive finance deal for your situation. CarFinanceGenie, for example, is a trusted provider of car finance in Essex even among those who have poor credit and might have been turned down elsewhere.

There you go – just five great ways to spend less on your next vehicle, so that you end up with a car you can be proud of, without being pushed dangerously into the red.

How Small Businesses Can Save Money on Healthcare

The biggest challenge for small businesses that want to offer health insurance to their employees is the cost. It becomes even more difficult if the business has a higher fluctuation rate. Small businesses have to balance profits with business costs. Of course, the health of any organisation’s staff is very important. However, small businesses do not have to go bankrupt as a result of healthcare costs. Below are ways small businesses can save money on healthcare.

 

If You Have A Company Healthcare Plan:

Review Contracts with Providers

Investing in a company health insurance plan is usually a very wise ideas for any business for a variety of reasons. For example, on average business lose 6.3 working days per employee each year which can, of course, result in huge costs to the business. When you add the costs of all for these absences up, it is likely to amount to around the same, perhaps even more, than a company-wide health insurance policy would.

If you already have a contract with a provider, consider carefully reviewing the full terms and conditions as well as the coverage you get. This may show many ways businesses can save on various contract terms. Comparing the value of the existing plans with the other options available can reveal the company’s need to change its plans.

Employers can also save money through the use of one consistent contractor rather than many, and they can conclude contracts that are focused on performance goals to keep suppliers on track.

Negotiate Better

Most small businesses believe that their new annual premium is set in stone. The fact, however, is that smaller firms of larger size often have more leverage than they would expect. In a 50-to-100 personnel range firm, for instance, many employees fail to realize they can negotiate their health insurance premiums.

Insurance companies will usually give reasons for raising small business payments such as the personnel is ageing. However, a good broker can also indicate reasons that the insurer will consider reducing the rate. Asking questions such as “Have any claimants left the company? Is the company’s health improving?” usually gives some leverage.

 

If You Don’t Have A Company Healthcare Plan:

 

Consider Wellness Strategies

If you don’t have the funds to implement a company health insurance policy, then consider other methods of ensuring your employees are fit, healthy and feel cared for. One such method is the introduction of company-based wellness programmes.

By offering wellness strategies for your employees you are giving them the helping hand that they might need to take better care of themselves. Not only does this help their health and wellbeing in the long run, but it will also help the reputation of your business as you will be seen as an employer who cares about their staff’s wellbeing.

 

Provide Health Education and Support

You can also implement classes or educational resources on the various ways that your employees can look after themselves.

For example, it would be wise to educate employees about the various types of private health insurance they can invest in for themselves and their families, such as standard health insurance, family health insurance or even dental insurance. This way employees and their employees will be covered in the event that they get sick or need specialist care.

You can also help to educate your employees on physical and mental wellness, as stated above, and on their general health. For example, you may consider implementing healthy eating alternatives in canteens, ensuring you educate them on hot to maintain a healthy work life balance, promoting walking to cycling to work or offering discounted gym memberships as an employment perk.

That Winning Feeling

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Plucking Money Hidden in Plain View

With such a heavy emphasis put on going through the schooling system and then going on to get a formal academic qualification so that we can enter the economic market with the necessary skills to get involved professionally, it’s no wonder that a lot of opportunities to make money are indeed hidden in plain view. We’re taught to think and operate in a certain way, with any slight deviations from that certain way viewed to be quite radical. Continue reading