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May 2018

Car buying advice made easy

Car buying is often made easier if you can take someone with you who is experienced in the matter. Trusted persons such as parents, friends or relatives are a good example.

The internet is full of car buying advice, good and bad! We’ve made a simple car buying checklist you can follow when looking for a new set of wheels.

 

Buying a used Car

Buying a used car in NSW? Check out car buying sites online where you can select different makes, models, prices and set the location you’re looking to buy in.

Set yourself an amount and stick to it!

  • Be prepared to negotiate on price

  • Don’t be afraid to ask the owner for a test drive

You may be thinking, what do I need to take to buy a car? Consider the following;

  • Your driver’s license
  • A small cash deposit to assure the seller you’re serious and to prevent them from selling the car to anyone else.
  • A reference or credit check from your financial institution to say you have good credit history. (This is only if you plan to get finance from the car dealer)

 

Buying a new Car

The lists are much the same, however if you have the time, visit a few dealerships and ask if any extras and upgrades will be included in your car purchase price.

Car salesmen will straight up ask you how you’ll be paying for your new car. ‘Cash is King’ still reigns true and paying by cash will give you higher bargaining power. However if you’re needing a new car loan do your home-work and look around for the best car loan rates. Horizon’s car loans are competitive and have a low establishment fee. Do a car loan comparison here or enquire about our car loans.

 

After you’ve bought your car

Motor vehicle insurance and a greenslip are the next things to purchase before you get your car on the road. You don’t have to purchase comprehensive car insurance, but it is the best option for peace of mind that all parties will be covered in the event of an accident. You can check out different levels of cover here

 

Getting rid of your old car

Now, what to do with your old car? Trading-in may ease the hassle of trying to sell your car privately but you'll normally get more for your car that way. Unfortunately, if you’re buying a new car, dealerships do not usually offer you a great deal for trade-ins.

Finally, don’t forget to submit a notice of disposal for your old car so the Road’s and Maritime service know you’re no longer the owner.
 

car buying finance tips

 

Good luck with your car hunt!

 

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The content in this article has been prepared by Horizon Credit Union for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant Product Disclosure Statement and Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Credit Union and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd trading as Horizon Credit Union ABN 66 087 650 173 AFSL/Australian Credit License Number 240 573