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 - though metallic paint, alloy wheels and LED headlights certainly don't hurt!
Buying a new 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 for thousands of dollars 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 dealer, it pays to do your homework after test driving and 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 when you're ready to buy.
- Arrange for a reputable mechanic to check the car prior to purchase. The mechanic will charge you a fee; however, don't shy away from essential additional costs like this as it could save you thousands. It's a good idea to make sure they confirm the safety features are top notch.
- Check that there is no money owing on the car. For a small fee, you can check by visiting the Personal Property Securities Register at ppsr.gov.au and downloading a PPSR Certificate.
- Organise finance for your new car with Bank of us, naturally! We have great low interest rates and very yoga-flexible options.
- 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.
- Include ongoing running costs in your budget: registration, insurance, petrol, services and tyres.
- 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: Please note this information is general in nature and does not take into account your personal circumstances or objectives. You should consider this before acting on any of the information contained.