Buying a new or used car is obviously a big decision. Whether you buy through a dealer or privately, there are plenty of mistakes you can make. Here’s MLF’ guide to the 4 most common car buying mistakes and how you can avoid them.
- Not Cracking A Good Deal
There’s an old saying that ‘you don’t get what you deserve, you get what you negotiate’. Both car dealers and private sellers are trying to get the best deal for themselves, not for you. Your job is to get the best deal on price and anything else you can. For example, on dealer servicing, warranties, accessories and delivery.
You should do your market research so you know a good deal. Always be prepared to negotiate with sellers on price and other extras.
- Not Crosschecking When Buying Used Car
There’s no point negotiating a great price and a great finance deal if you end up buying a lemon. It will just cost you more money and be an ongoing headache. If you’re buying a used car, your chances of buying a lemon are higher. Just because a car looks good on the surface doesn’t mean it is mechanically sound.
You should always get a used car independently inspected by a mechanic before you decide to buy it. You should also go for a thorough test drive.
- Falling for Unnecessary Extras
Dealers make money on any extras that they can upsell to you, like window tinting, upholstery products and insurance. You’ll often be able to negotiate better deals yourself. Don’t get pressured into optional extras that you don’t want or need.
- Not Checking Ownership If You Buy Privately
Check the Personal Property Security Register (PPSR) if you’re buying privately. It will show you if a car has money owing on it or has ever been written off after an accident.
How MLF Can Help You
If you’re looking to buy any car and you need finance, talk to us. We are car finance brokers. We can make sure you get a great deal as we work for our clients, not for lenders.
Call 0433233220 during business hours to speak with one of our experienced brokers.
