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Shopping for new wheels?

If you are in the market for a new car, there are a few things you should think about.

After all it’s not just about bells and whistles, nice though the metallic paint, alloy wheels and LED headlights are!

Buying a car is a major financial commitment (even if you've won lotto!). We’ve all heard the horror stories of a friend of a friend who bought a car only to find out it was a lemon (or maybe you’ve had first-hand experience!)

Whether it’s new or used, privately sold or through a car dealership, it pays to do your homework before you sign on the dotted line.

We’ve put together a short (not exhaustive) checklist to help you make sure you cover the important things.

Let's go ...

  1. Arrange for a reputable mechanic to check the car prior to purchase. The mechanic will charge you a fee; however, it could save you thousands.
  2. For a small fee, check that there is no money owing on the car by visiting the Personal Property Securities Register at ppsr.gov.au and download a PPSR Certificate.
  3. Organise finance for your new car with Bank of us, naturally! We have great low rates and very yoga-flexible options.
  4. Make sure you take out comprehensive car insurance# to protect your new investment. Together with our insurance partner CGU, we can sort you out with your insurance too. 
  5. Include ongoing running costs in your budget: registration, insurance, petrol, services and tyres.
  6. When you pick up your new car, do a final check and inspect the vehicle for damage or defects. Check the car’s year and month of manufacture matches that stated in the paperwork too and make sure you get all the keys for the car along with the service book, owner’s manual and log book.

#The small, small print: In offering general insurance product Bank of us acts under its own Financial Services Licence and under agreement with CGU. CGU insurance products are underwritten by Insurance Australia Limited 11 000 016 722 AFSL 227681.