12 things to consider buying your next used car online
Fri, 14 Jul 2017

When upgrading to your next car, one thing's for sure, you'll need an abundance of information when it comes to searching and buying online - or at the dealer's forecourt.


When your trade-in is still on finance 

Considering that as many as 90% of all car purchases in the UK are financed in one way or another, affordability therefore is one of the first things you'll need to understand before choosing your dream motor. This means buying with your head and not your heart before beginning your journey and should include your part exchange if you have one - especially after any outstanding finance has been settled off. But do you know how this works? 


The dilemma

Without wanting to be obligated, is it then fair to ask a Sales Person to sit down and calculate what every car on their forecourt would cost per month after your part exchange (with its finance paid off) - maybe not when all you want to do is simply browse at this stage? 


The Payment Buyer's vehicle order process 

Here's the standard routine you need to be in control of before you buy your next car;


1. Establish your Part Exchange value for trade in before searching and keep in mind you want to remain in your car until change over day 

2. Always know your PX's outstanding finance amount - this will change frequently 

3. After your current car's settlement is taken into account, use your PX's equity as deposit 

4. Always compare a car's HP and PCP monthly payments 

5. Order your car  

6. Apply for your competitive new finance with total transparency 

7. Following acceptance, review and sign your finance documents 

8. Arrange your vehicle collection date  

9. Change your existing car's insurance over  

10. Take a familiarisation test drive 

11. Consider an extended warranty and a dealer service plan 

12. Pay off your existing finance settlement


Narrowing down your choice

Up until now, you would have to visit multiple websites or dealers to do all this and so you may need a checklist to compare dealer against dealer and who does what in the process. 


One-stop-shop 'Self-deal' Used Car online buying is here

Using www.paymentswap.co.uk means you don't have to do any of these multi-tasking duties. The newly launched intelligent website does it all for you and you only need to enter your information once. Powered by some of today's biggest names in car retail, this one-stop-shop website works everything out for you and all in under one minute. 


How does it work?

It starts by valuing your car as a part exchange as a trade-in, then working out its existing finance settlement, it uses your car's equity as a deposit and with your preferred monthly payment, it displays currently over 18,000 cars from a range of authorised main dealers and leading car supermarkets.


Trusted brands

Each one of the hundreds of dealers and partners involved have empowered you to not only search, but actually buy using your tablet, phone or PC and all by entering just your current monthly payment, reg number and postcode. This means for the first time, you can actually do your own deal from start to finish knowing all the way through exactly what you can afford.


Non-intrusive browsing

The self-deal website let's you search anonymously without anyone ringing or emailing you to ask how you're getting along. None of the dealers know you're looking at their cars until you've placed your order.


Part Exchange with or without outstanding finance or no PX at all?

Payment Swap is also handy if you have either already paid your old car off or, you don't actually have a car to trade in. At the press of a button, the search quickly removes these sections and lets you browse by your desired monthly payment. 


Quickest and most relative search ever

All the cars displayed are the ones you can actually afford. Cash prices are replaced by the monthly payment so you can compare at a glance what that car costs each month. 


How to check if your car's got negative equity 

This multi-dealer search-to-buy engine was originally designed for customers in the middle of their existing finance agreement. However, you can easily use this as a way to check if it's the right time to trade in your old car or not. The system instantly knows if your settlement is less than the car's guaranteed trade-in value and instructs you what to do. If it's not the best time, it will text or email when it is.


Have fun buying your next car 

Now that you have the one, single empowering website that does everything for you, the question has to be "Why wait until you've paid your old car off?"

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Depending on the amount you owe, there is a likelihood your new agreement’s term will be extended beyond your existing arrangement. Subject to status. The renewal of a new agreement is subject to underwriting conditions and may not always be possible. Payment Swap is a registered trademark brand, operated in accordance with FCA guidelines. Automotive Media Ltd is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 757685). Automotive Media Ltd is a firm registered in England and Wales under company number 9679212. All rights reserved. Written quotations detailing a choice of finance lenders will be made available from Automotive Media Ltd, who are a credit broker and not a lender and whose name is listed on the FCA register.

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