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Vehicle Finance: 5 Tips to Buying a Used Car

Get a car that is right for you by making sure you know your used car buying tips.

Posted on: September 14, 2016

Get a car that is right for you by making sure you know your used car buying tips.

When purchasing a new used car, it seems that the possibilities are never ending. The new love of your life could be unique, practical, or add a pop of colour to your life.

The decision of what car to buy is so personal and it is understandable that a period of time must be set aside for a pros and cons list. You are essentially investing in a new way of life when purchasing a used car, so it must also be noted that you should consider what is best for you with regards to private or dealer sales. Some deals may seem too good to be true, and unfortunately that can sometimes be the case. Be sensible and you will find that this new purchase could be life changing.

To make the most of your impending purchase of a used car, follow these five tips to ensure you’re getting a car that’s right for you.

Do your research

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

Getting the right car for you

In most cases, it can be impossible to purchase a car without the assistance of finance. Many Australians have followed suit to make the Australian auto dream come true and apply for finance to purchase their motor vehicle.

It is so essential to not only do your research on what car you are wanting to purchase (including safety checks, efficiency, Redbook price, and what will suit your lifestyle), but also research the best finance option for you from different financiers. When purchasing through a dealership, it is always beneficial to meet with the finance manager to work out the best deal for your situation.

Set your budget boundaries

Never forget that setting an affordable budget is essential to walking away with a car that is right for you. There is no point in looking at a super revved up car, when you know it is out of your budget sphere. You will only set yourself up for disappointment. Laydown the rules with yourself and your car dealer and the rest can be history.

Don't be afraid to ask questions

Your motor vehicle will hopefully be with you for a long time, so it is more than understandable that you ask as many questions about the car’s history as possible.

Enquire if there have been any manufacturer problems. How old is the car? Why are you selling? Has it ever had any damage? Could I see a full service history?

Once all your questions have been answered, go ahead and do your own research and always be sure to complete a PPSR check to ensure the car does not have any money owing or has been reported stolen.

Test drive

NEVER and I repeat NEVER buy a car without test driving it first. The previous owner may think that the car runs perfectly, but they could also be so use to the way it drives that nothing could possibly seem wrong. The accelerator may be slightly touchy and the handbrake might need a hard yank to get in working order, but these are quirks that a new owner should always be made aware of. An independent mechanical check by a qualified mechanic is also advisable.

The best way to know what you are getting is by test driving it first.

Factor in ongoing costs

Before you sign on the dotted line and hand over the cheque, always make a budget for the cost of the vehicle that you will encounter throughout the life of your car. You may need to include loan repayments, comprehensive insurance, registration, regular servicing and maintenance, tyres, fuel, and any added features that you may want. Always know what you are paying for and have a solid plan to get through the life of your credit loan should you require one.

Happy buying!

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