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Buying a new car is exciting and nerve racking all at the same time. Yes, you’ll get to be zipping around in some shiny new wheels, but driving is also a financial commitment and comes with huge responsibilities. Here we discover the tips to buying a car, saving money and staying safe on the roads.
Pick a Price
First things, first; how much can you afford to spend? While you may have dreams of driving a Ferrari, that won’t help you in deciding on what you can really afford up front and in the long run. Many people choose to take out a loan, which is fine, but even then, always remember that the loan does need to be paid back and it will be you that is doing the repaying. Think about how much you can budget each week, not only on repayments, but also car insurance, petrol, maintenance and registration.
Research, then Research Some More.
Now that you have decided on a budget, you can go and find a car that suits you. The best place to start is the internet – both private sellers and car dealers list their vehicles on the internet, so it really does give you the ability to compare and save. Once you’ve developed a list of top contenders it’s time to step out of the virtual world and take a test drive.
Things to look for in a vehicle when test driving:
- Quality of the interior and exterior – are there any rips or tears, dents or scratches?
- Funny noises – if something doesn’t sound right, it probably isn’t.
- Why is the car being sold?
- How many kilometres the car has done?
- How negotiable is the price?
- How long has it been available for?
- Is the registration about to run out?
- Is the seller willing to have a mechanics check done?
Haggling will Save You Money
Negotiating is somewhat of an art form. Many people shy away from it as it appears confrontational, but with some confidence and knowledge you’ll be in a good position to haggle away. To negotiate a better deal, do the following:
- Have a comparative “backup” car – This means that you will have an alternative to compare with when bargaining. If this car falls through and they are not will to budge on price, you won’t be left right back where you started, but with another option to consider.
- Have a deposit ready – having this on hand will show the seller that you are serious about the purchase.
- Be realistic about price – If you are looking to get $5k knocked off the price when the rest of the similar cars on the market are only going for $1k less, you’re going to walk away empty handed.
- Understand their motives for selling the car – If they are only selling the car because they have a new one, your chances of snagging a huge discount is minimal. If they’re selling because they need the money, you’ll be in a better position to close the deal.
Car Insurance
Once you have made the big purchase, it’s important to have the right car insurance. In New South Wales there is a compulsory insurance called CTP insurance (or green slips) which is a legal requirement to owning a car in that state. In Queensland, this type of insurance is known as third party car insurance. Whether its third party or comprehensive car insurance, it’s essential that after spending all that time, effort and money on a car, if something should happen, you are indeed covered.
Sourced from: ezinearticles.com
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Living in Sydney 