There are some cracking finance deals out on cars at the moment, with some deals even offering 0% finance which is pretty cool! The only problem is, most of those deals require a sizeable deposit of anything up to 30% of the car’s value in order to qualify for such deals.
Some people won’t have any problem with fronting the cash for such a purchase, but for many people this is a huge problem. For example, if the car is worth £18,995, then a 30% deposit is going to be nearly £6k, so if you don’t have immediate access to that sort of cash, how exactly do you come up with that sort of money?
The good news is, there are plenty of ways that you can come up with the deposit you need for that shiny new car! Here is a list of just a few ways, as compiled by car leasing supremos Tilsun Group:
1. Sell your existing car
If you have an existing car, then you should be selling it to fund the purchase of your new car! Here are some ways to help you get the most amount of money for it:
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Give it a full valet – this means thoroughly cleaning the exterior and interior, making it into an as-new condition as possible. You can either hire a valeter to do the job for you, or if you don’t mind a bit of hard graft, you could undertake this project yourself;
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Get it serviced – in the very least you should be getting an oil and filter change for the car so that it is running smoothly, and will impress any potential buyer on a test drive;
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Make sure it’s road legal – cars with as close to 12 months MOT as possible tend to fetch more money than those that don’t. Also make sure it has at least 6 months tax so that a potential buyer can drive the car away immediately.
There are many places where you could advertise your car for sale, from a notice inside of your car to local newspapers and even various classifieds websites on the Internet.
2. Have an eBay day
Everybody always has piles of stuff that they don’t want anymore, so you should devote an entire day to listing all of the things that you want to flog on eBay. You would be surprised by the high amounts of money some things can fetch, even if you consider them to have little to no value!
3. Do some moonlighting
Even if you have a full-time job, there are plenty of things that you can do on the side to earn extra cash. For example, if you have excellent written English skills you could do a spot of online content writing for marketing companies in your evenings and weekends, or maybe you could offer your services as a pet or baby sitter if you don’t want to be stuck in front of a computer when you get home!
4. Get an interest-free credit card
If you can find one, and your credit rating is up to scratch, get yourself an interest-free credit card. These are obviously only interest-free for say 12 months or so, but if you get given a big enough credit limit, you could use the credit card to pay for the deposit and then clear the card over a year!