Car Buying Advice for Mums in the Post-Pandemic World

Β Car Buying Advice for Mums in the Post-Pandemic World
If youβve been in the market for a new car, youβve done either one of two things β balked at the outrageous prices on offer or recoiled at the horrendous wait times of almost up to twelve months to get behind the wheel. Yes β a year to get your new car after youβve paid for it!
Unfortunately, thereβs not much we can do about the prices of cars. Thereβs a global chip shortage and a supply crunch thatβs doubled up to create a massive upswell in prices.
If youβre hoping to haggle with a dealer on price, you wonβt get as far as you used to.
Dealers are always trying to up their commission by pressuring you to take on extras such as undercoating, interior upgrades, infotainment centres, and other tidbits that are only of value to the dealer β not you! Remember that cars are made out of stainless steel β they donβt need rustproofing!
Buying second hand is an option but prices have crept up in that market too. If youβre lucky, you could nab a great almost-new-car if you hunt online hard enough. But be warned β the second-hand market is full of sharks, and you could be scammed.
Bill Tsouvalas, Managing Director of Savvy says that everyone needs to do their homework and get abreast of the latest scams. If youβre unsure, you can check on the latest scams (they come up with new ones every other week!) on ScamWatch.
βWhenever you look for a used car from a private seller, you need to check if the car isnβt a write-off or stolen using the Personal Property Security Register. If you have to push for the VIN or logbook, walk away. You need to get an independent inspection, do a test drive, kick the tyres β everything you can to protect yourself. Because if you buy a lemon, youβre on your own.
Whether you are buying new, used, or certified used, the one way you can beat the price rise β to a fashion β is to get a better deal on car loan finance.
If you choose to borrow for your next vehicle, then you can compare available loans online with a broker,” Tsouvalas says.βThese are unprecedented times of lowest of low interest rates. Itβs a buyerβs market for car loans but a sellerβs market for cars. Approach a dealer, get some quotes, and see if you can save on the back end instead of up-front.β
If you can also get pre-approved β that is, apply for the loan before looking β you can have a leg up on negotiation.
βApproaching dealers at the end of the month or end of financial years with a loan pre-approval is like approaching a dog with a steak. Theyβre instantly keen to make a sale because youβre a hot prospect. They also need to make their quota. To do that, they must come in under what amount youβre pre-approved for. Otherwise, you walk away. Remember that you have the leverage!β
Remember to consult a financial professional before committing to any type of loan product.
Written in partnership with Savvy