A step-by-step guide to buying your next car

Whether you're in the market for your first car or upgrading to something new, here's a step-by-step guide to help you get behind the wheel sooner.

1. Clarify your needs

Start by considering your specific needs and what features are non-negotiable. Being clear on your needs before you start shopping could help streamline your search.

2. Set your budget

Determining your budget is an important step when purchasing a car. Beyond the upfront price tag, keep in mind the other costs associated with buying and maintaining a vehicle including registration, servicing and insurance.

A car loan could be a great option to help put you in the driver’s seat sooner. If you’re looking to compare preferred loan amounts, interest rates and payment frequencies, a car loan repayment calculator can be a useful tool.

3. Get pre-approval

Rather than waiting until you find your perfect ride to think about your lending options, consider getting car loan pre-approval first. This can help give you a clear idea of what you can afford to make for an efficient buying process.

4. Find your new ride

When it comes to choosing a car, be aware that the age and type of vehicle can impact your borrowing capacity and loan terms. Consider chatting with a lending expert to help explore your options.

5. Make your purchase

When buying through private sale, check the seller has all the necessary paperwork including proof of ownership and a Certificate of Roadworthiness. Don’t forget to check the Personal Property Securities Register (PPSR) to ensure the car isn’t still under finance.

If you’ve already secured pre-approval, finalising your purchase at a dealership is usually straightforward. If you don’t yet have pre-approval, you may need lending support before you get on your way.

Looking for support?

It’s never too early in your journey to enlist an expert. From budgeting for repayments to securing pre-approval, a Liberty Adviser could help you drive away.

Reach out to your local Liberty Adviser today to start exploring your car ownership options.

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