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5 tips to buying a vehicle in the EOFY car sales

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Are you in the market for a new or used car? With offers galore, the End of Financial Year (EOFY) car sales can be the best time to buy a vehicle. Here are our top five tips to help make your car purchase experience a great one.

Work out what you can you afford

When working out the cost of a car, don’t forget to factor in ongoing costs like maintenance, insurance, registration, and of course, the day-to-day costs of fuel.

If you don’t have enough money to buy a car outright, you may need to take out a car loan. You’ll also need to factor interest payments based on car loan rates into your budget. Our car loan calculator can help you decide how much you can afford.

Find the right car

Do your research to find a car you can afford, and that suits your lifestyle. Factors to consider include:

  • What sort of driving do you do and how much? A smaller car can save money on fuel as well as other costs, but may not suit your needs.
  • What size car do you need? Do you need to regularly take passengers and/or gear?
  • Do you want a manual or automatic transmission?

Decide whether to buy your car privately or through a dealer

Buying a car at a dealerships can be more expensive than buying privately, but usually provides some warranty depending on the age of the car.

If you buy privately, you’re buying from the owner, so you may not get a warranty. Make sure the owner has the right paperwork like proof of ownership and a car registration certificate. You don’t want buy a car that the owner doesn’t have authority to sell.

Check the car’s credentials

The last thing you want to do is spend your money on a car that isn’t up to standard or ends up repossessed because of previous debts.

  • If you’re buying second-hand, get a vehicle inspection before you commit to buying so you know exactly what condition the car is in. Test drive the car to make sure it drives well and if the mechanic who inspects the car has any uncertainties, it might not be worthwhile proceeding with the sale.
  • Look at the car’s repair history. Has it been serviced regularly? Has the vehicle been repaired multiple times for the same issue? You can also purchase a Car History report to see the full history of the car, including if it’s been in an accident before.
  • Make sure the car doesn’t have money owing on it. For a small fee, you can do a REVS or PPSR check on the car’s registration or VIN. That will tell you if there is any other security over the car that could mean you don’t take unencumbered possession.

Shop around

Don’t rush into a decision. Look around multiple dealerships or car sales sites, and take your time. Buying a car is a big decision and you want to be happy with your choice.

Save on buying your car in the EOFY sales

Taking advantage of the EOFY car sales can be a great way to save money on your next new or used car.

If you’d like learn more about how you can save for a car, or if you’re considering applying for a car loan, call us on 1300 747 747. Or visit the Qudos Bank website to find out what products may help you toward your next set of wheels.



Qudos Mutual Limited trading as Qudos Bank ABN 53 087 650 557 AFSL/Australian Credit Licence 238 305. Loans are subject to approval. Normal lending criteria, terms and conditions and fees and charges apply. The information in this article is of a general nature and has been prepared without considering your objectives, financial situation or needs. Before acting on the information, consider its appropriateness to your circumstances.

You should read and consider the relevant Terms and Conditions and our Financial Services Guide available on our website, before deciding whether to obtain any of our financial products or services.


Article published May 2019