Your car is something you’ll come to rely upon near-enough every day for several years, so buying a new model is a big commitment. There is a vast range of options available on the market today and, as long as you know what you’re looking for, it should be a fun and exciting experience. We’ve designed this guide with all the information you’ll need to put you in the (right) driving seat!

Do I need a new car?

This is the first thing you should ask yourself. Put simply, new cars are expensive and you need to be sure that you’re buying it for a reason. Buying a new model is an investment, so you need to make sure that you’re prepared to have the car for some years to validate your purchase. This is mainly since the car depreciates in value considerably within its first few years. However, the warranties and surety of quality that you get with a new car are often seen as good reasons for purchasing.

What car should I buy?

Ultimately your car should be suited to your circumstances. Here are some crucial factors to consider:

Usage: Your mileage is the most important thing to consider when you buy a new car. If you know your mileage is going to be high, a fuel-efficient model is the priority. You may also want to consider a slightly larger engine. On the other hand, if your mileage is lower (e.g. for driving around town) then a smaller model will be cheaper and more appropriate to your needs.

Number of seats: If you have four regular passengers in the car, a two-seater is immediately ruled out. On the other hand, a seven-seater would be excessive. You ultimately need to consider the comfort of your passengers as well yourself.

Boot space: Many people see a larger boot as being a priority exclusively to families. However, this is not true. It’s important to consider how much you travel and hobbies that require equipment too.

What other factors are there?

There are various immediate practicalities when you buy a new car (i.e. number of seats, car type) but there are also some long-lasting factors you should consider:

Fuel: You may love all the specifications of a car and then find out it’s far too expensive to run. Make sure you check the rough costs of running the car you want via a fuel consumption tool.

Tax: Every car has to pay a road tax but depending on the CO2 emissions this can vary from model to model. It’s important to know what band your car sits in using the GOV website before purchase.

Insurance: This is probably the most important factor that can easily get forgotten when you’re buying a new car. Insurance is determined by many factors such as the car’s 0-60mph, horsepower, model type (e.g. sport versus people mover); insurance can often be one of the most expensive mistakes to not look into.

Haggle, always

Last, and by no means least, you should always haggle when it comes to buying a new car. The most important part of this is doing your research. Here are some things you should know before you step into the dealership:

  • Have a good understanding of the model, engine and specifications you want and what you should be paying.
  • The price on the window screen is always a starting point.
  • Always be prepared to walk away. It puts you in a stronger position and you don’t lose anything.

Also, remember: When you’re haggling you have to be reasonable. If you present a ludicrous offer to the dealership on your perfect car, you’re hindering your chances of securing a purchase.

Ready to buy a new car?

If you’ve considered all of the factors concerning your new car and you feel ready to make a purchase, the last thing to consider is your car finance. My Car Credit have a panel of trustworthy lenders that will be happy to discuss your purchase. Start your journey with an application with us today!

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating


  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed


  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs


  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit


  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past


  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan

X monthly repayments of

Typical rate

Loan amount

Total payable




*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!