It’s increasingly common to upgrade cars regularly rather than holding onto the same vehicle until it throws in the towel. With an ever-growing range of finance and payment options, accessing new and nearly-new vehicles is quick, easy and affordable. If you’re looking to replace your ride in 2026, here are some simple, budget-friendly solutions.
Explore used vehicles
When you hear the words ‘used’ or ‘second-hand’ linked to cars, it’s understandable to conjure up images of clapped-out vehicles that have seen better days. Guilty to say, I have a habit of collecting neglected old Toyotas, particularly LandCruisers, to give them a second life. That is not for everyone. And I won’t encourage anyone to try their luck with over 15-year-old any vehicle unless they are very mechanically inclined and have the time and space to do the tinkering. So don’t sweat. You don’t have to be like me.
In reality, a used car is any car that isn’t brand new. New cars lose value the moment you leave the forecourt or dealership. Buying used vehicles is a great way to save on modern makes and access a wider range of models.
There are various avenues to explore when buying used, including private sales, visiting dealerships, exploring finance options and swapping your car via a part-exchange agreement. It’s crucial, whichever method you choose, to make sure you’re paying a fair price for a good-quality car. Choose reputable dealers, carry out checks, inspect service records and avoid any deals that look too good to be true.
Research and compare finance offers
Most drivers now buy cars on finance. Research suggests over 80% of UK vehicle owners use finance options like PCP and HP. Buying on finance allows you to spread the cost of your car over a prolonged period, which usually lasts 2-5 years. Instead of paying the total sum up-front, you pay a monthly fee.
If you’re thinking about buying a car on finance, it’s important to research and compare offers before you decide what to choose. Explore different makes and models, see what discounts and incentives are available from manufacturers and dealerships and create a short list. Once you know what you want, you can compare deals online. If you’re looking for Hyundai Kona PCP offers, use search engines, visit websites, enter your details and compare quotes. You can also visit local garages and arrange test drives. It’s beneficial to look out for special offers and perks, such as deposit boosts.
Reduce running costs
One way to upgrade your car without blowing the budget is to reduce running costs. If you can find a car that is a similar price in terms of total cost or monthly repayment value, you can save money by lowering expenses. Examples include insurance and fuel. Compare insurance quotes for different makes and models and consider alternative fuel types. Hybrid and electric vehicles may be cheaper to run depending on the make and model you choose, how much you drive and the types of journeys you make most frequently. You can also cut fuel costs by searching for the lowest petrol prices in your local area online.
Remember, when you purchase an EV, you may also need to upgrade the electrical charging system in your garage. Get a quote from your local electricians and keep this upfront cost as part of your vehicle purchase budget.
As for me, after years of running a petrol-thirsty V8 LandCruiser, I opted for a diesel model this time. In Canada, Diesel pricing is way less volatile than petrol. And I get almost double the range with the same litre of fuel burnt. It’s also perfect for prolong travels like the ones I’ve enjoyed the most. You don’t need to worry about range as much as with a petrol vehicle.
Upgrading your car is an exciting prospect, but it can also be daunting, especially if you’re on a budget. The good news is that there are affordable ways to replace your vehicle. Key steps to consider include buying or leasing a used or nearly-new car, exploring finance options and deals on new cars and reducing running costs.