Whilst many motorists are taking advantage of used cars falling in value, drivers are able to get behind the wheel of a brand-new model for thousands less than its retail price.
Supply chain issues, the rising cost of labour and a turbulent economy has led to the cost of new cars rising significantly over the past few years.
However, drivers are able to reduce the cost of their next car by searching for listings made by dealerships on online new vehicle platforms such as AutoTrader and Carwow.
Currently, the cheapest new car on sale in the UK is the Kia Picanto, with the company stating that prices for the stylish South Korean supermini begin at £13,695.
However, a number of dealers are offering the same model for over £1,000 less, with some offering Picantos for as little as £12,450.
New car buyers who are looking for a more practical, family-sized model can also get an MG ZS for thousands less than expected.
Introduced in 2017, the model has been a success with UK buyers in particular, who have been familiar with the MG brand name that has produced vehicles since 1924.
Whilst MG currently offer the ZS SUV for £18,320, some dealerships are offering the model, which is no longer the newest in the range, for under £16,000.
However, drivers are able to get the best possible deals on more expensive cars, with many experts noting that the cost-of-living crisis has led to a decrease in the interest in luxury cars.
As a result, many dealerships are selling new Ford Mustang Mach-Es for more than £10,000 less than the claimed retail price.
According to Ford, the all-electric crossover that can accelerate from 0-60mph in 6.7 seconds costs £50,805, however some retailers are offering the model for under £40,000.
According to the financial advice platform Money Helper, motorists should never feel afraid to haggle when buying a new car.
The expert noted that buyers should always have in mind a maximum price that they would be willing to spend but highlighted that drivers should initially suggest a lower price to the dealer.
They insisted that drivers should be pleasant and optimistic at all times, however, not to be afraid to stay silent until the dealer responds with a counter offer.
