UK drivers can save up to 22 per cent off a new car by buying it on the 28th
New research has revealed a simple trick drivers can use to help make huge savings when buying a new car.
The simple trick can help motorists over 20 per cent off the price of a new car.
Data has revealed that drivers could save a fifth off the price of a new car if they opt to buy the car on the 28th day of the month.
Pricing data, analysed by consumer car management expert, Regit, found that a spike of savings occurred on the 28th each month.
Increases in saving ranged from three per cent to up to 22.22 per cent on self models.
For example, the 2017 Ford Fiesta, one of the most popular cars in the UK, costing £13,789 on the 27TH of September but the price could be reduced by 20.3 per cent if bought on the 28th.
This equates to a saving of nearly £2,800.
Similarly the price of a 2017 VW Polo can be reduced by 20 per cent with a saving of £3,000.
A Mercedes G-Class looked to make the biggest saving with a 12.76 discounted price resulting in a saving of £17,545.
A car is one of the biggest purchases most of us will ever make
Terry Hogan, CEO at Regit, said: “A car is one of the biggest purchases most of us will ever make, so it’s important to save money and get the best deal where possible.
“When we looked at price reductions on the 250,000 vehicles listed on Regit, we noticed a huge dip in prices around the 28ththat could save consumers thousands.”
Terry Hogan explained: “The majority of dealers use Glass and CAP guides as a benchmark for their pricing which are released at this time each month, dealers will lower their prices accordingly.
BMW 1 Series 2017 was seen to receive a discount of £3,500
“So by shopping on 28th people can take advantage of the newly discounted prices and make some significant savings.”
Another tip offered by Regit is to buy on a Friday, with data suggesting price cuts can be over twice as much towards the end of the week.
Terry Hogan said: “Dealers often lower their prices at the end of the week in order to lure in customers at the weekends.”
CAR: Mercedes-Benz G-Class 2017
ORIGINAL PRICE: £137,495
28TH PRICE: £119,950
DISCOUNT PERCENTAGE: 12.76 per cent
CAR: Porsche 911 2016
ORIGINAL PRICE: £205,000
28TH PRICE: £199,000
DISCOUNT PERCENTAGE: 2.93 per cent
CAR: Range Rover Sport 2017
ORIGINAL PRICE: £64,000
DISCOUNT PERCENTAGE: 9.38 per cent
CAR: Ferrari California 2015
ORIGINAL PRICE: £147,490
28TH PRICE: £141,850
DISCOUNT PERCENTAGE: 3.82 per cent
CAR: Nissan Micra 2017
ORIGINAL PRICE: £13,495
28TH PRICE: £12,695
DISCOUNT PERCENTAGE: 5.93 per cent
CAR: Vauxhall Corsa 2017
ORIGINAL PRICE: £16,495
DISCOUNT PERCENTAGE: 12.12 per cent
CAR: Volkswagen Golf 2017
ORIGINAL PRICE: £24,985
28TH PRICE: £22,985
DISCOUNT PERCENTAGE: 8 per cent
CAR: Peugeot 208 2016
ORIGINAL PRICE: £9,555
28TH PRICE: £8,333
DISCOUNT PERCENTAGE: 12.79 per cent
CAR: Hyundai i30 2017
ORIGINAL PRICE: £14,789
28TH PRICE: £14,167
DISCOUNT PERCENTAGE: 4.21 per cent
CAR: Toyota Auris 2016
ORIGINAL PRICE: £18,000
28TH PRICE: £14,000
DISCOUNT PERCENTAGE: 22.22 per cent
Mercedes-Benz G-Class 2017 received the best monetary saving
CAR: BMW 1 Series 2017
ORIGINAL PRICE: £31,995
28TH PRICE: £28,495
DISCOUNT PERCENTAGE: 10.94 per cent
CAR: Volkswagen Polo 2017
ORIGINAL PRICE: £14,990
DISCOUNT PERCENTAGE: 20.01 per cent
CAR: Ford Fiesta 2017
ORIGINAL PRICE: £13,789
28TH PRICE: £10,991
DISCOUNT PERCENTAGE: £20.29 per cent
CAR: Mini Hatchback 2017
ORIGINAL PRICE: £17,490
28TH PRICE: £14,790
DISCOUNT PERCENTAGE: 15.44 per cent