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Looking to purchase a new car? Top tips for getting the best car for your money

myPPSR Team|23/10/2017

Buying a new car is not as simple and picking your dream vehicle and putting down your hard earned cash, there are basic steps and processes to be sure you cover to ensure you are getting a good deal and you are buying a car that is legal and suitably priced.

If you’re ready to buy, you should be aware of the following before you sign on the dotted line for your new car at your local dealership.

Considerations before you decide on a new car

Before you even step foot in a dealership, you should be a couple of basic things to get you prepared, these steps include:

  • Check your credit report to ensure you have no issues with your credit history – if you do, now is the time to get this sorted before applying for finance.
  • If you have a clear credit history now is the time to get pre-approval for your loan
  • Next, you need to trade in your current car or sell the car you already have
  • Finally, set a realistic budget that you want to stick to for your new car

Once you have worked through each of these steps, you’ll be ready to walk into the new car dealership knowing you’ve got all your finances in order and you’re ready to find that shiny new set of wheels.

Things to be aware of when buying a new car from a dealership
  • Make sure you get a firm price including all on road costs – so there are no surprises
  • Check out a few dealerships before you decide on the dealer you want to go with
  • Don’t feel like you can’t ask questions or negotiate the price of inclusions
  • Ensure you read and understand the contract of sale before you sign – if you don’t understand the contract ask a friend or family member to help you or ask for some legal help

The car dealership should provide some basic information and this includes the actual price of the vehicle, stamp duty charges, delivery charges, and also any other fees that must be charged before the car is legally yours.

While the lot price might seems like a super deal, when you add in all the on road costs the car might all of a sudden seem like an expensive choice and you should be aware that you do have a cooling off period if you need this.

Whatever you wind up deciding upon for your new car, it is important that you set yourself a budget for your finance and don’t go beyond this. Ensure you are taking into consideration all of your monthly expenses and costs so that you don’t over extend yourself in the car financing process.

While banks and financial institutions might lend up over and above what you need, it is essential you keep your budget in mind so that you are spending within your means on your car loan.