Buying a car? According to new research commissioned by Gumtree.com.au, a new car can depreciate by more than two thirds in the first five years of purchase.
Shocked? So are 4 in 5 Australians, who believe it makes more sense to buy a used car rather than a new one in the current economic climate.
So, what can you do to make sure you get the best bang for your buck when it comes to buying a used car?
Just follow these simple steps!
1. Meet the seller
Meet the seller and ensure the car is the same as the one listed on the registration certificate. Inspect the car in full daylight to easily identify possible defects under the bonnet, any rusting under the car or dents in the exterior. Take a friend if you can, to help inspect the car.
2. Test drive cold
Arrange to test drive when the engine is completely cold, which will give you a good idea of how the car starts. Test drive the car in all gears and on a range of road surfaces to identify any potential issues.
3. Check the history:
Get the car’s Vehicle Identification Number (VIN) and check the history of the vehicle with your state database.
4. Independent inspection:
It might be worth the investment to have the car inspected independently. If there is any hesitation from the seller it is likely they are hiding something. Gumtree.com.au lists a range of service providers you can choose from in your local area.
Negotiate the price based on your research into the average market prices and if you found any faults with the car. There is usually leeway for bargaining.
ABOUT GUMTREE AUSTRALIA
Gumtree.com.au is Australia’s number one free classifieds website. It connects over 1.5 million Australians every month to buy, sell and find anything from cars and jobs, furniture, rentals, tickets, services and pets in their local community. Gumtree was founded and launched in London in March 2000 as a free community noticeboard. Gumtree.com.au was launched in January 2007 and in 2011 Gumtree Australia expanded its national coverage to 8,000 suburbs across 55 cities, towns and country areas. Gumtree.com.au now offers free online local classifieds to over 95 percent of the Australian population. In 2005 Gumtree became part of the eBay Classifieds Group.