Things to do before walking into a dealship


Make sure you know what type of car you are looking for. 

    • What size of car are you after?  A small get-around town car, something a little larger for a family, or that sports car you’ve had your eye on for a while.
    • Accessories.   Decide about what you would like your car to have.  Do you need leather upholstery, sports steering, sunroof, cruise control or do you just want a car?
    •   Remember that these things are all going to add to the cost of your car.

Now that you know what you want, it’s time to do some more research.  Most people these days look online and compare products and it’s easy to do.  It is worth taking the time.

  • How much does your car sell for on average?
  • How much should your optional extras cost?
  • Runnings costs and reliability.
  • Registration and insurance
  • Read reviews about your car.  Is it REALLY what you want?

Do you know how much you want to spend and more importantly, how much your repayments may be each month?   Once you have a figure in mind for the cost of the vehicle check out our online loan calculator that will guide you in the right direction for your repayments.

It’s not just the cost of the vehicle though.  Be sure to budget for things like insurance, stamp duty, registration, and any extras that you would like.

  • Your car dealer may offer finance, but it is worthwhile doing a little bit of research here also.  There are alternatives to dealer finance with the most common being your bank or a finance broker.
  • Be aware of very low finance rates being offered.   The low rate may not be offered for every vehicle in the yard and the costs associated with this loan may be surprisingly high.   
  • Your dealer and your bank may only have one or two different loan products to choose from and they may be good rates but, as a finance broker, I have a panel of at least 15 different lenders and will be more likely to be able to find a product that best suits your needs.
  • PRE-APPROVAL.  As well as finding a great product I can also arrange Pre-Approval for your loan.   This means that you can go shopping knowing exactly how much you can afford to spend, which makes it less likely to get talked into a car that is out of your budget.  It also means that your bargaining power might be higher.
  • You can always walk away if you don’t find the car or deal that you were after.  Having pre-approval makes this even easier.
  • There will always be another car so please don’t let the excitement of driving away in something other than what you really want to, sway your judgment.    
  • You’ve done the research and you know exactly what it is that you want.  Make sure you get it.

This is an interesting one so here are a few points to think about.

  • Do some research and find out how much your car may be worth if you were to sell it privately.
  • Would your dealer give you a similar amount as a trade-in?
  • Are you in a rush to get your new car, if so a trade-in may be the right option?
  • If you are not in a rush and think you can do better than what a dealer may offer, then consider that.  You may end up with some extra dollars in your pocket.

So, if you have been researching your dream car and have found the one you like, get in touch.  We’d love to help you get the finance for it.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced, or republished without prior written consent.