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Car Loans: New cars
Handy hints for buying your new car
Buying a car can be a frustrating process for even the most savvy buyer. The seller's best interests may not always match yours so it's important to be careful.
Take a look at these tips to help you get the upper-hand.
- Do your research & be prepared
Buying a car can be quite an emotional purchase, so have a clear idea of what you want and what you’re willing to pay. If you walk into a dealer without having done your research you may end up making an emotional purchase on something you really didn’t need and at a much higher price. Don’t think it can’t happen to you! Make sure that you have spent time researching car models, features, prices and extras before you walk into a dealer. The internet is a great source of information.
- Get your car loan pre-approved^
There are several websites you can read if you’d like more insight to how some dealerships ensure they get the best deal out of you rather than the other way around. The most common advice given is to take the financing out of the negotiations. Read more about the great features of a Car Loan from Aussie and then apply online today. It takes about 20 minutes and you could have your loan approved within 24hrs* and be ready to hit the car dealers to start your bargaining.
- Negotiate on the drive-away price
Once you have your car loan you can then make sure that you are negotiating on a ‘drive away price’ on the car itself rather than how much it could cost per week. Many dealers make it sound like you are getting a great deal by bundling finance and letting you believe you are paying a low weekly rate. But, beware – if you look at the fine print you may find that your repayment period is longer than anticipated and in the end the total price may be far more than you wanted to pay. Aussie gives you a fixed rate and provides you with certainty around your repayment amounts. Knowing you have a great car loan deal you can be confident to negotiate with the dealer on the price of the car without worrying about any hidden catches.
- Pick a good time of the month.
Dealers all have targets they need to meet so the end of the month or quarter can often be the best time to negotiate.
- Always sleep on it.
Make sure you test drive as well as write down the make, serial number, options and price to take home and
compare with your research. Don’t ever make a decision on the day.
- Be smart and confident.
You’ve arranged your finance and you’ve done your research, so now just focus on driving that bargain.