Top 5 tips you should consider when Buying a New Car.

"Top 5 tips you should consider when Buying a New Car."

Besides the purchase of a house, buying a new car will be one of the most significant purchases in your life. It can be an exciting event but also can be a little daunting for first time buyers. Use the following tips to ensure your new vehicle purchase will be hassle free.

1. What is my budget?

So you know roughly what type of car you are looking for, now you need to calculate how much you can afford and how much you can borrow. Consider your monthly grocery bills, gym membership, phone, rent etc and running costs for your new car (fuel, insurance, tyres) and calculate these into your budget. You don’t want to borrow more than you personally can afford to repay. Its easy to get carried away with a new car purchase, so it’s important to stick as close as you can to your budget.

2. Pre Approved Finance

Having a pre-approval before you start your car selection enables you to know your limit of your borrowing ability upfront. Not only will this give you confidence when you are looking at vehicles but also gives you some negotiating power with the seller. Sellers do not like “tyre kickers”, so by organizing finance pre approval, you are showing the seller that you are a genuine buyer.

To arrange pre-approval today, call Approved Car Loans today on 1300 422 756 or visit our website at www.approvedcarloans.com.au.

3. The Shortlist

Now you have pre approved finance, shortlist a few vehicles that fit within your budget. Its important to have a through look at whats out there before buying a used car. To get an idea of a models current market price, spend some time searching used car ads, reading online reviews and checking the local paper. If something seems too good to be true, it probably is.

4. Inspect the vehicle

Inspect the vehicle and always test drive the car before committing to the purchase. For further peace of mind, have the car inspected by an independent mechanic. Don’t feel pressured into purchasing the vehicle right there on the spot, it may be worthwhile visiting a few dealers first, even if you find exactly what you want at the first dealership.

5. Make an offer

It’s the old adage, you never receive if you never ask. Don’t be afraid to ask for a discount on the drive away price. The worse thing the dealer can say is no. If you don’t receive a discount, ask for longer rego or extended warranty.

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