Buying a car is a huge step that can prove to be daunting – but it does not have to be. Technology has made everything so simple that you can buy a vehicle while you’re waiting in line at the supermarket. But even with online resources, many Australians still make big mistakes when purchasing a car.
This blog details how to research, find and even negotiate when buying a new or used car. Let’s begin:
Do Your Research
You know what they say, “Knowledge is power.” It applies to everything, including buying a car. Sadly, many people visit car lots without doing any research. It’s a big mistake with considerable consequences. Before you go to a dealer, know about the car you want. What features are you looking for? What do other people say? Include both expert and owner reviews in your research, along with the prices and available deals nearby.
Go to automaker websites to see more photos of the vehicles. The sites also add features and options to help with your research. Have a shortlist until you figure out the best choice for you.
Get Preapproved for a Loan
This step is important, especially if you’re planning to buy a new car. A preapproved car loan will set you out on the right foot since it tells you how much you can afford. You also have an interest rate to compare with when it comes to dealership financing, enabling you to get more attractive offers.
To begin the preapproval process, you will need your employment and bank information, among other requirements. Ensure that you already did your research, as mentioned above. Ideally, you should be ready to make a purchase within two weeks after getting preapproved. That way, you avoid many hard enquiries to your credit report.
It’s a good practice to research the lenders and options you have. You will notice that most auto loan terms average 72 months. Consumers think that choosing the longest duration will help them save money due to the lower monthly payments. But we recommend opting for a loan term that’s 60 months or less.
Trade-in Your Current Car
You can skip this step if you don’t want to trade in your car. But if you do, then keep reading. Before going to the dealership, you should already know your car’s trade-in value so you can set your expectations. Doing so will tell you what the car is worth, which you will use against the purchase. If you need tips to up your car’s value, please read our blog on the topic.
Many people find this step quite tricky because they are biased. Remove any emotions in the equation and be honest about the car’s condition. Heated seats and sunroofs can affect the value of the vehicle, but car owners tend to exaggerate by describing their cars in “outstanding” condition. Most cars fall into the “fair” category no matter how well they were taken care of.
We know a shortcut method that can save you effort and time. Plus, you get money for your car quickly. Get an instant offer from We Want Your Car WA. Don’t forget to upload photos – the more information you provide, the better. We respond quickly, but best of all, we provide unbeatable offers. You can head to your local dealership and ask them to beat our price if you like. We’re confident you will love our offer more.
Find the Car You Want
With your money ready and you have the car candidates to choose from, you’re now prepared to buy. As with any significant purchases, you should see the car in person before you decide. You will find a ton of dealerships around Western Australia where you can test drive the vehicle you want to buy.
Before you head to the dealership, though, contact them first. Enquire about the availability of the car you wish to purchase. Verifying it is in stock will save you the effort of going to the lot just to find it’s already sold out. This is important even if you see the online inventory states it’s in stock. It can take a while before the inventory list catches up.
Here are more dealership tips:
- While at the dealership, don’t forget to ask if there are any dealer-installed options. New vehicles today come with add-ons like all-weather mats, theft protection packages, and nitrogen-filled tyres. While these extras are great, they typically mean you will need more money on top of the advertised sale price.
- You can schedule when you will show up at the dealer. But we recommend avoiding busy weekends or late at night. Often, you will have to wait longer, and the salesperson may not give you their full attention.
- Test drives are essential. Schedule it ahead of time, so you do not waste time since the car will be there waiting for you. It’s best to arrange the test drive early in the week and in the morning. Don’t be afraid to drive the car around. Take enough time to see how you fit in the car. If the vehicle is a family car, make sure your whole family can fit comfortably. See how the car handles different types of roads, too.
Speaking of comfort, you should also check if you find the controls easy to operate. Inspect the cargo space and if there is enough legroom or if a child seat can easily fit. Finally, don’t feel obligated to purchase the car on that very day. You can take a night and think it over until you are confident with your decision.
Close the Deal
When everything looks right, from the price to financing and the car, you’re ready to say yes to the deal. You can choose to buy the vehicle directly at the dealership, or you can have the vehicle and related documents delivered to your address. If you’re wrapping things up at the dealership, you will most likely be taken to the finance and insurance department. That way, you can sign the contract and purchase other products you may be interested in, such as extended warranties.
Congratulations! The car is now yours. There’s only one more thing you need to do: enjoy it. If you’re stuck in the process of selling your old car, don’t worry; we’ve got your back. Contact us, and we’ll give you an offer you can’t say no to!