LifestylePersonal Finance

Buying a Car in Australia

Australia is a vast nation and a country where travel by car is a necessity for the great majority of the population that live outside of major urban centres. An expansive urban sprawl, high house prices, and an underdeveloped public transport network all combine to make daily car travel a requirement for most Australians.

So, have you been faced with the prospect of purchasing a vehicle in recent times and found yourself confused by the many options available? You’re not alone and we’re always trying to deliver motoring lifestyle content to answer your questions.

We’ve listed a number of key considerations below that you’ll need to determine before buying a vehicle. Once you’ve considered all of the below, you’re ready to take the plunge and purchase a car.

What type of car is right for you?
There are many things to consider when looking to purchase a vehicle. This is a big investment so you need to be certain that the car you purchase is right for your requirements and lifestyle.

What car is a good fit for your lifestyle?
There are vehicles on the market for people in all walks of life! If you’re planning on having children in the next few years, your vehicle needs might be completely different to a younger person who is only just learning to drive. Buy for your future self to ensure that your vehicle is fit for your lifestyle and everyday requirements down the track.

How much can you afford to spend?
Be realistic when it comes to price! Don’t spend more than you can afford and try not to be lured by the temptations of luxury brands if you don’t have the budget. It’s wise to set a budget before you start your search as this will enable you to keep to your list of requirements.

Do you buy a big or small car?
How often do you carry multiple passengers in your car? Do you need a large vehicle or will something more compact like a hatchback suffice? There is a perception that larger cars are safer however with modern EU regulations, smaller vehicles are now incredibly safe and might represent a better fit with your lifestyle. If you want to determine the crash rating of a vehicle, check out resources such as How Safe Is Your Car and ANCAP.

Manual or automatic transmission?
Transmission choice is a personal decision however something to consider nonetheless. Fully licensed drivers can legally drive either however if you’re unfamiliar with a manual transmission, it’s advisable to buy an automatic vehicle to ensure that you’re safe out on the road.

New or used?
Have you got your heart set on a new vehicle or does the saving that comes with a second hand car appeal more than that new car smell? New cars might come at a premium however there are benefits to buying new. One major benefit is the security of buying through a licensed motor­trader. Car showrooms sell to individuals every day and offer a warranty period as well as servicing inclusions that are peace of mind to motorists that might not know what to look for in a second hand vehicle.

Used cars can be purchased privately or through motor traders however with kilometres on the clock from previous owners, you can never be completely sure that the vehicle has been properly maintained. There are safety nets in place that offer buyers some protection here however the peace of mind that comes with buying new might be enough to sway some motorists towards a new car purchase. Be sure to review your consumer rights before signing on the dotted line for your new vehicle.

How to purchase?
Once you’ve determined an appropriate vehicle for your budget and lifestyle, it’s time to buy that car! Paying for your vehicle is a major consideration, especially if you don’t have thousands of dollars in the bank to splash on the purchase.

Finance options
If you’re in the lucky position to purchase a car upfront, it makes financial sense to transfer the full balance and drive away in your new car without any balance owing on the vehicle. This isn’t a common way to purchase as many motorists have ongoing costs such as mortgages, bills that need to be paid and everyday lifestyle expenses.

Thankfully, there are companies that offer finance packages for individuals looking to purchase vehicles. Businesses such as Stratton Finance offer competitive finance packages to thousands of Australian motorists each year. To date, the business has lent over $2.5b in car finance to more than 60,000 people, enabling the purchase of a new car without the financial strain of saving the full balance before taking delivery. By combining personal service with access to low rates from a panel of lenders, a car loan from Stratton is a competitive option when looking to buy a new car.

Although the world of new cars might seem complicated, there are plenty of resources online to help make the process a little easier to navigate. Consider your needs, research all options and purchase only once you’ve determined exactly what you require.

Stay safe out on the roads.

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1 Comment

  1. mango money
    September 20, 2016 at 2:29 pm — Reply

    nice article you got! yes it is right to choose first what type of car do we need and check our finances if we are capable to buy a new one or to avail a car loan.

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