Purchasing A Used Car

Any vehicle purchase could see you being ripped off. It is the sad reality.

We have touched on some basics for deciding whether you want a new or used car, but now we will look solely at what you need to be aware of when buying a used car.

You want to get the best deal whether it be price, comfort, features or low kms etc. At the same time you definitely need to consider the risk associated.

The starting point for every person when it comes to a transaction is price. Sometimes you can be swayed by the shine and glitter of a new product or maybe you just have loyalty to a particular brand or make. But price still remains the ultimate consideration for understandable reasons.

Often, you can get an estimated value of the car you have decided on. Doing this will determine if the person or dealer is trying to oversell the vehicle to you or not. If they are, provide proof of the estimation. It is like anything in life where you may need to price-match to get the deal you are after and ultimately deserve.

Also consider the overall look of the vehicle. Chances are, if the vehicle has low miles/kms, you will be getting plenty of use out of it! Don’t be afraid to look hard for what you like because you might be stuck with it for a while. Comfort, features and reliability are things you should focus on, but if a car stands out to you and you can afford it then trust your instinct.

Then make sure you understand the end process – documentation, paperwork and negotiation. Ensure you provide relevant and up-to-date information in your application so dealers are given the complete picture but don’t forget to negotiate before you establish a final price. Squeeze them for everything they’ve got because they’ll definitely be doing the same to you!

 

New Vs Used Car

We’ve looked at Student Loans and the impact their debt is having on the future economy but now it’s time to specifically look at what to consider when buying a new or used car.

Ultimately, we’d like to give you all of the necessary information needed to determine whether you want to purchase a new or used car!

Make a list of what you might need out of your car.

What will suit you? What will be comfortable? What will give you the most efficiency when travelling from A to B? What about the price? It’s a big decision and not one that should really be taken lightly.

As mentioned, comfort and style are clearly important but it’s also key for you to consider

Family, relationships, friends, personal use. All of these considerations need to be made. There’s plenty to weigh up.

Simply research both new and used cars and try to narrow them down to a reasonable number. Personally, I would look at no more than 10 vehicles in more detail or you’ll be spending too much time agonising over your decision!

Whatever the number of cars you’ve found is, lower that to below 10. If you’ve found 10 or less, then beginning researching in much more detail. Visit the specific dealerships/places that hold the cars. Talk to people, immediate family and friends or just people you know that have had experience using the vehicles. Online reviews can also be a good asset to helping you make a prompt decision (presuming you need to do so) but don’t completely rely on them – look to use them as a guide because it is your choice at the end of the day.

Let’s look at used cars first. They can be very affordable solutions but while you can find a used car that looks and feels new, it is often easy to tell when something has been used or not. But at the same time, don’t let that deter you from making the purchase or at least making the consideration. Look online, at car yards or ask close friends if they have or know of anyone selling a used vehicle.

Alternatively, new cars are almost always going to be more costly than used vehicles. It’s basic stuff. If something’s newer, then obviously you will spend more for that item. But that doesn’t always make it better. New cars will typically give you an array of new features and comfort but are they always going to work in your budget? Do they suit your needs? By all means, go for it if they do. Just be sure a used alternative isn’t one that actually could work for you.

Weigh all of these factors up. If you can afford something in the high-priced range then don’t hold back, but be sure this is the case. However, getting the latest model isn’t always essential and used cars are therefore a very effective method that should be considered. They can often do the same things at a lower cost.

In summary just be cautious in your approach and don’t settle for a vehicle that may give you headaches down the line!

Used or New? It depends on your personal situation, but we hope we’ve provided enough guidance for you to make an informed decision either way!

 

 

Understanding The Process Financing Your Vehicle

In order to get your vehicle financed, you need to consider process and the documentation you may need.

Understanding how financing works in this situation will be the best way for you to start. Car dealers want to finalise the sale and provide the necessary invoices and documentation to push it through. This is why they’ll initially ask you to sign an offer to purchase a vehicle.

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You’ll be able to find the vehicle’s details on the invoice following the purchase and the dealer will most likely send the order to purchase to the company who finances your car. The next step will involve the credit agreement ie. weekly and monthly repayments etc.

Essentially, the process will run smoothly so long as you provide accurate information in your application. Ensure you provide a driver’s license, proof of your salary, your ID and some form of phone bill.

Each of these things will provide the dealer with enough personal evidence to confirm the transaction of the motor vehicle. An authority to release form will be given and you will need to sign the document to ensure the financier can pay the dealer.

These are just some of the basics you’ll need to understand when purchasing a motor vehicle.

Student Loans Are At Breaking Point

Students could once study for free and simply needed to work hard in school to get where they needed to be. Now, there so many more restrictions and limitations. Affordability is obviously the biggest concern in today’s society with prices of almost everything going up. Degrees incredibly costly, and given the wages of people aged 18-22, it is generally unlikely we will be seeing people of these ages able to be financially independent while studying unless working tremendous hours.

Therefore, we have to look at the crux of the problem. In the U.S. the student loan debt is in excess of $1,200,000,000,000 and yes, that is the correct numbers of zero’s! Incredibly, this number increases almost everyday. It is an epidemic.

To get into the top jobs in the world you may need to move through the ranks of University and people are now beginning to wonder whether this is worth it because of the financial strain it causes.

Do the benefits of higher education outweigh the insane costs most courses are drumming up? We aren’t 100% sure.

But we do know how much debt is impacting the day-to-day lives of our students. So what does this mean?

  1. The student may not be able to move out and/or start a family.
  2. That person may start work that doesn’t actually cover the cost of debt accrued over time.
  3. You can fall behind on payments very quickly and there isn’t a lot you can do if you don’t have the funds available.

This can result in what is called ‘default status’. This can ruin a credit card for the long term, the future.

Buying a house, car or living independently may become virtually impossible in the long run all because of a degree you were fighting for. Financial security is completely obliterated in many cases for students in this day and age.

What people seem to forget is how this impacts the economy. Not ending up in the right profession to pay your student loans often results in a default. The cycle is endless because these students are now mostly unable to afford starting their own family, buying a house etc.

Moreover, it seems you cannot study for the sake of it and not that anyone would do that, however, the option to pursue higher education seems to be one which people are beginning to bypass.