Getting a new car is very exciting, but many consumers understandably get anxious about the buying experience.
ACCC explains what consumers should know before buying a car:
- Set a budget.
It is important to know what kind of deposit you can make, as well as what monthly payments you can afford.
- Know your credit score.
Your credit score will determine the loans you qualify for.
- Do your research.
Look at online reviews of dealerships to avoid a bad experience.
- Compare prices.
Gather information not only from different dealerships, but from online services as well.
- Decide if you want to buy new or used.
Used cars may be more affordable upfront, but may cost more in the long run due to maintenance and repairs.
- Check in with your insurance company.
Sometimes changes in vehicles affect insurance rates.
- Know when you can get the best deals.
Car dealers work on a month to month basis, so you may be able to get better deals at the end of the month.