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 and enquire about Horizon's car loans.
After you’ve bought your car
Motor vehicle insurance and a Green slip 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. Check out the different levels of motor vehicle cover.
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.
Let us help you on your journey. Get in touch with us today to discuss our car loans available to you.
Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong.
The content in this article has been prepared by Horizon Bank 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 Bank 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 ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.
