New initiatives to help motorists secure better deals on new cars

Sainsbury’s Bank’s car purchase scheme, Drive, a flexible and affordable way to purchase a new car, has launched three new initiatives to help combat the escalating costs of purchasing a brand new car.

According to the bank some drivers are losing thousands of pounds because they struggle to find a competitive price for a new car, fail to minimise the impact of depreciation, or are unable to get the appropriate market value when selling or part exchanging their old car. The bank also warns that many company car drivers do not realise they could save substantial sums by opting out of their current schemes.

Car buyers already have a useful tool in the What Car? Target Price, in association with Sainsbury's Bank, an achievable discount for every make and model on sale (based on mystery shopping).). By first checking Target Price, buyers can find out exactly how much discount to aim for. However, Sainsbury’s Bank’s car purchase scheme, guarantees to beat Target Price every time, offering motorists even bigger discounts with no need to haggle. This also means that it consistently beats the ‘on the road price’ quoted by manufacturers, in some cases by as much as £3,500.

Now Sainsbury’s Bank’s new car purchase scheme website, powered by What Car? has introduced three new initiatives to help motorists choose the right deal for them. These are:

1. Helping you find the best deal on a new
2. Getting market value for your old car
3. Assessing the value of your company car

Valerie Wood, car purchase scheme manager, Sainsbury’s Bank, said: "With our car purchase scheme, we are committed to flexible and affordable hassle free motoring. We have always tried to provide motorists with everything they need to make informed decisions when purchasing a new car and we believe our new initiatives go a long way to help them achieve what’s right for their individual needs."