Looking to make a new car purchase? It’s a big decision and a big purchase, so here is a checklist to help you make the smartest choice possible.
Figure Out How Much You’ll Need
Do some research to find out exactly what car you want to purchase so that you know the exact cost of the car. Finding one within your budget can be tough, so take the time to find a bargain and the best value for your money.
Get a PPSR Check
This stands for Personal Property Securitues Register, and you need to get one before purchasing that car to reveal if it is debt-free and safe from repossession.
Chat to an Expert
Know nothing about cars? Find someone who does, and if you can bring them along with you. You can also get a vehicle inspection done by RACQ or a recognised inspection station to provide a comprehensive report of the condition of the vehicle you are considering buying. This will let you know if there are any repairs that may be required on the car.
Ensuring that the car drives and feels right prior to purchase is important too. If a private seller refuses to let you test drive the vehicle, it is probably a good indication to walk away from that sale.
Check for Modifications
Some modifications to certain vehicles are illegal, and you need to identify these before you purchase. If you buy and it has some illegal modifications you could be liable for major fines, or it could affect your car insurance, or it could even mean that the car will be impounded.
Get insure, before you drive away with your new vehicle! Researching insurance companies to find the best offer is just as important as researching the best finance option for your car loan.
Fill out the Paperwork
If you are buying from a private seller, double check that all of the correct paperwork has been filled out and submitted to the correct people within 14 days of your purchase.
If you are looking for finance options for a car loan or vehicle loan, iCREDIT has a team of dedicated finance consultants who can help you find, compare and choose a car finance option suitable to your budget and requirements.