Truck Loans Australia :: Articles

5 top tips when buying a used car in Australia

5 top tips when buying a used car in Australia

Buying the right second-hand car can be a bit of a minefield – from finding a model that fits your needs and budget - to negotiating the best deal with the seller, but with a few tips and tricks, it can be made a lot easier and less stressful.

Here are 5 tips to buying a second hand car in Australia

1. Do your research

Before you start looking at used cars, it's important to do your research and figure out what kind of car you want to own.

You should also have a budget in mind so that you don't overspend.

If you plan on borrow money to finance your purchase, you should start with a car loan repayment calculator to work out how the loan repayments would be for various loan amounts over different repayment periods.

Car Loans - Quick & Easy
If you are in the market for a new or used car, then we're in the market to help you arrange the money. Our car loan & leasing finance service is backed by a national panel of car loan specialists who will establish your eligibility, find lender/s offering the best deals for your situation - and help you through the approval and settlement process. No charge to you - and no obligation to proceed with any recommendations offered.

There's also a great deal of merit in getting a loan pre-approval before shopping for a car. A pre-approved car loan means that you have a much better idea of how much you can afford to spend, and it will put you in a stronger negotiating position with the seller. 

Once you know what kind of car you're looking for, you can start searching for dealerships or private sellers.

2. Get the vehicle history

If you're buying from a dealership, they should provide you with the vehicle log book and vehicle history report if they are available. If not, you can request this from the seller. This information will tell you more about the car, including the diligence of the previous owner in vehicle care and maintenance.

It is also important to find out whether the car has had any major repaired damage or has been submerged in floodwaters. 

Knowing this information will help you make an informed decision about whether or not to buy the car.

3. Take it for a test drive

Once you've found a few potential cars, it's time to take them for a test drive! This is the best way to see how each car feels and if it suits your needs.

Pay attention to how the car handles and if there are any strange noises coming from it.

Also pay close attention to the car's tires during the test drive. Wear and tear on tires can be indicative of other problems with the vehicle, so it's best to err on the side of caution if they don't look 100%.

If everything looks and feels good, then take note of which car YOU like the best!

4. Have an inspection done by a professional mechanic

Even if the seller tells you that the car is in good condition, it's always best to get an inspection done by a professional mechanic before making your final decision. Auto Associations in each State, such as NRMA, RACV, RACQ, etc, provide vehicle inspections at a very good price to members.

They will be able to spot any issues that may not be apparent to the naked eye and let YOU know if it's worth purchasing or not.

Before buying a car privately, check that the person selling it is the registered owner. Check that the certificate of registration and safety check report for the vehicle are up to date (the last issued no more than 1 month ago). The details on all documents should match those of the vehicle.

5 negotiating with the seller

When negotiating with the seller, always keep your budget in mind so that you don't overspend on the car itself or on repairs that need to be made after purchase.

And take your time! This is a significant purchase, so don't feel pressured into buying a car that you're not completely sure about - you'll likely regret it later down the road.

When purchasing a used car privately, on the Internet, or by bidding at an auction, make sure that the seller is legally entitled to sell it. If the car was stolen, or if it is being financed through a loan and registered under someone else's name, then that person may not be able to sell it.

Before buying a used car privately, the buyer should check the vehicle security register to confirm ownership and learn if the car is being used as collateral.

Ownership checks are carried out by supplying the vehicle registration number, engine number and chassis number.

To find out if a vehicle is held as security for a loan, you can check the Personal Property Securities Register.

Finally, in order for you to transfer ownership of the vehicle, the seller will need to inform the state road authority and you will need to accept this transfer. This can usually be done online via your state motor authority.

By following these tips, you'll be well on your way to finding the perfect used car for you!

Car Loans - Quick & Easy
If you are in the market for a new or used car, then we'd like to help you arrange the money. Our car loan & leasing service is backed by a national panel of car loan specialists who will establish your eligibility, find lender/s offering the best deals for your situation - and help you through the approval and settlement process. No charge to you - and no obligation to proceed with any recommendations offered.


Finance Articles

Car Leasing Car Leasing
Leasing is an often misunderstood car financing option so, in response to subscriber feedback, we've included this article to help give you a better understanding of what it is and how it works. - read more
The Truth Behind Payday Loans The Truth Behind Payday Loans
There’s a lot been said about payday loans. Many claim that the interest rates charged are outrageous. Others say that they are the only source of finance available for those with less than perfect credit score. There is a bit of truth in both claims but there is much more to payday loans than meets the eyes. - read more
Personal Loans And The Consumer Credit Code Personal Loans And The Consumer Credit Code
Understanding your rights as a consumer is essential in dealing with complex issues like personal loans and other finance. Here we reveal, in simple terms, how the Credit Code works for you. - read more
Knowing these loan finance options will make borrowing easier and save you money Knowing these loan finance options will make borrowing easier and save you money
Knowing these 6 types of loan finance options will make it easier for you do deal with brokers and lenders. Once you go from asking for a loan to asking for a "novated lease with a 45% balloon payment" you will be in a far better position to negotiate your loan with confidence. - read more
Balloon Payment Loans: 6 steps to make the loan profitable Balloon Payment Loans: 6 steps to make the loan profitable
Did you know that you can reduce the monthly payments on a loan to half of what they should be by using a balloon payment? Handled correctly, structuring your loan to include a Balloon Payment will increase your bottom line. Mishandled, a Balloon Payment can cause real headaches. Here are 6 steps to keep it smart. - read more

Finance News

RBA lifts official interest rate
May 03 ::

The Reserve Bank of Australia lifted the official cash rate by 25 basis points at its meeting Today.

The... read more

Heavy reporting requirements limiting the financial services sector.
May 03 ::

As of 1 October 2021, Australian Credit License and Australian Financial Services License... read more

Police issue warning about bank scam
Nov 20 :: Melbourne police are warning people about a scam in which fraudsters pose as bankers and ask for money.They... read more
ANZ nets solid profit despite wealth management
Oct 26 :: ANZ banking group has reported a solid full-year result with net profit attributable to shareholders up 6 per... read more
Millions lack access to basic financial services
Jun 01 :: Nearly 3 million Australians do not have access to basic financial products such as a credit card, car insurance... read more

Start Here

Get a free truck loan eligibility assessment and compare truck finance and leasing options without accessing your credit file!!
Loan Amount:
Postcode:
Important: All truck finance quotes are supplied to you free and without any obligation. We respect your privacy.

Knowledgebase
Mortgage:
A loan in which the borrower (the mortgagor) offers a property and land as security to the lender (the mortgagee) until the loan is repaid. Repayments of the loan are usually made on a monthly basis over a long period of time, typically 25 years.