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5 Things to Look for When Buying a New Car

Jul 7, 2016 | Insights

Dont be caught out in the excitement of a new car – research that you are getting what is right for you with these simple tips.

Australians have long had a passion for cars, they are heavily ingrained into our culture and our national identity, one only needs to look to the V8 supercars and the Ford vs Holden debate it sparks to realise how serious the average Australian is about their cars.

It’s a wonderful feeling being able to put your foot down on that accelerator and get the exhilarating first push forward in your new car. Even if it is second hand, that new car smell still seems to linger and fill your soul with happiness. All these endorphins fill your body and you finally get the sense of accomplishing a goal – owning your own car.

Whether it’s a first-time buyer, or it’s your fourth car in 10 years, that feeling of stepping into a car that you have saved your hard-earned dollars for is something that can never be given up. Getting approved for a loan, just allows for your dream to become reality a little sooner than expected.

Embrace the world of car ownership by doing your research and getting the best possible outcome for yourself.

Getting the right car for you
So you’ve decided to join the other 83.1% of Australians and get yourself a car. Now you must complete the tedious task of deciding what car is right for you. That is where the new vs used car debate comes in.

Obviously your current financial status will play a major role in what type and age car you purchase, a loan is always a viable option. It is understanding if a used car does not appeal as much as a new one, it can be reassured that there are a lot of quality used cars at bargain prices out there, all you have to do is be patient and wait for the right deal.

Does the car match your lifestyle?
Now, there is nothing worse than ending up with a pink Toyota Yaris when you’re going to be travelling to and from a tradie worksite on a daily basis. Asking yourself questions like “do you need to transport sporting equipment?”, “will it be used for work?”, and “does it have enough space for grocery shopping?” should all contribute to your final decision. Don’t choose something that you could ultimately regret solely so you can look cool.

Getting the best deal
Overspending is never ideal, so the aim of the car buying game should focus around getting the best deal. By researching and shopping around to find the car that you actually want should be your first point of call. Never underestimate the power of Redbook, where you are able to find reviews, evaluate prices, search for model problems, ANCAP safety ratings, green ratings, and so much more.

Additional costs
When budgeting to buy a new car, never forget those sneaky additional costs that pop up without you even realising – it all magically adds up. Be weary of registration, stamp duty, and any extras that may be added onto the standard cost of the car. Although most dealerships include the on road costs in the final price, private sellers often neglect this and include them as additional costs. Also never forget those pesky fortnightly fuel ups and 6 monthly services that need consideration.

Always set yourself a goal
Just remember your budget, but still keep your standards high. Never drive away with a car that you are not completely happy with – it won’t be worth it in 6 months’ time.

The information contained in this blog is accurate only at the date of publication. 

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Makala Elliott

Makala is the Marketing Manager at Finance One. She has worked in the Finance and Lending industry for over 10 years, gathering a wealth of experience. She is passionate about helping Australians get back on track with their finances by passing on her knowledge.

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