If it’s time for you to update or upgrade your car, here’s some tips to help steer you in the right direction.
Do your research
When you’re ready to buy, try not to let the process be rushed. Take the time to do your research so you’re leaving nothing to chance and not making snap decisions.
Before you set foot in a car yard, pull this information together to help get you on the right track:
Do your research online, and ask family and friends for recommendations. You could also try talking to your mechanic – they have hands-on knowledge of the best and worst cars to service and repair.
Get a pre-approved loan
Try to avoid loans from car dealerships – their interest rates are usually much higher than a car loan from a bank or credit union. You’ll also have much less power to negotiate on price if you’re relying on credit being approved through the car dealership.
The best option is to walk into the car yard armed with a pre-approved loan. This means you have a set maximum amount to spend, and more clout when it comes to getting the best price.
Do your homework and check out cars ads online to get a sense of market rates and what your money should buy. When you do start visiting car yards, go in armed with knowledge of how much the car you want should cost. Be prepared for the process to take time – you’ll need to visit more than one dealership to get a good idea of what’s available.
Think about insurance
When you’re working out your car budget, don’t forget to include insurance costs. Insurance is an essential cost when owning a car, so do your research on the types of insurance available:
Visit the QBANK insurance portal (backed by QBE) for a quick quote.
Always test drive the car
This sounds like a no-brainer, but some people let their excitement take over and skip this obvious but essential part of the car buying process. Don’t let that be you, OK? Check:
Get a second opinion
When you’re buying a used car, try and get another opinion. You can:
QBANK tip: It’s good practice to log onto the Personal Properties Security Register (PPSR) to make sure that there’s no money owing on the car. This is an Australian Government site that charges a small fee to run the checks on your car.
Buy what you can afford
Top tips to stay within your means:
Your consumer rights
Sellers and manufacturers must not mislead you about a vehicle’s make, price, quality, fuel consumption or performance. When you buy a car in Australia, it comes with guarantees it will work and do what you expect. If a business fails to deliver any of these guarantees, you have consumer rights for:
Visit the Australian Competition and Consumer Commission (ACCC) for more information.
QBANK car buying service
If it all seems a little daunting, you’re not alone. We can help with our free car buying service.
Available to all our members, you can get help with:
Here to help
Every step of buying a new car, we’ve got you covered with:
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