Top 10 Tips for Buying a Motor Vehicle Privately
Hi, I am Paul from Finance 48
And this week we’d like to talk to you about our “Top 10 Tips for buying a motor vehicle privately”.
Tip # 1 – How long has the car been on the market. The longer it’s been on the market, the better your chance to negotiate on the price because they would be keen to sell.
Tip #2 – Run a PPSR report. This will show you if the car is under finance, if it’s ever been stolen, or if it’s ever been written off. Very cheap report to run. Cost about $4. Really good idea
Tip #3 – Check the log book to make sure it’s got a full-service history. That should be in line with the manufacturers service intervals which is usually every six months or 10,000kms. You want to know that the car has been serviced regularly.
Tip #4 – Do your research as to what’s fair market value. Have a look at what some other makes and models. Have a look at Glasses Guide. Have a look at RedBook.. That’ll give you an idea of what’s a fair price to pay for car that you are having a look at.
Tip #5 – Check the paint and panels on the car. See if it’s been in an accident. Sometimes the panels might be slightly misaligned or their might have some different shades of paint. Give you some idea of if the car has been in accident.
Tip #6 – Test drive the car and do it when it’s cold. Make sure the radio’s off and you have the windows down. You’re listening out for strange noise. You’re making sure the car’s driving in a straight line and it brakes in a straight line.
Tip #7 – Very important. Have an independent mechanic check the car for you. Make sure it’s in mechanically sound condition.
Tip #8 – After the mechanic’s done his inspection and he finds some things wrong with it, get an estimate of the cost of those repairs. You can use those estimates to help you negotiate the price down.
Tip #9 – All motor vehicles have three (3) key numbers. They have a registration number. They have a VIN or vehicle identification number. And they have an engine number. Those three (3) numbers have to equal the registration papers. Check them out.
Tip #10 – If you’re buying from a dealer, they’re going to give you a contract and they’re going to give you a receipt for any deposit paid. If you’re buying from a private seller, ask for a receipt and see if you can get a photocopy of their driver’s license It gives you that peace of mind.
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