Buying the first car is exciting & overwhelming for some women. This blog covers all the essential tips to make your car buying process a seamless experience.
After all the savings and hard work you’ve made over the years, finally, it’s the day to get your hands on your dream car. Buying a car for the first time is surely an emotional experience, the most exciting moment. On the contrary, it can also be an overwhelming process, especially if you’re a woman with a limited budget. Just like finding quality auto parts in Victoria, purchasing your first car can be slightly intimidating. You won’t believe but Australia is one of the countries where 52% of driver’s license owners are women; not only that, women are taking this big leap from a very young age and comprises over 80% of the car purchasing decisions.
However, no matter how inspiring that fact maybe, we can’t ignore one thing – when it comes to buying your first car, the female clan can be poor negotiators. As a consequence, they’re less likely to get the best price.
Why don’t we change this and encourage a greater number of educated female car purchasers to come forward and make informed decisions? In this blog, we’ve compiled the most useful car buying tips that’ll save you time, money and of course, headache!
Essential Car Buying Tips Every Woman Needs to Remember
1. Decide your budget:
Buying a car is your next mega investment after your home. And you certainly don’t want to regret after already buying the car, right? So that you don’t cry over spilled milk, you need to know the type of car you’re purchasing:
- Sports car
You might be looking for a car that best suits your personality and lifestyle. So, don’t just go by looks! Instead, research about the vehicle, study the online reviews or even take opinion of your friends and co-workers. Rather than keeping one option, it’s better to be flexible and have two to three models in the same category to choose from.
Also, never let the finance department of the car dealer or bank decide how much you should afford. That’s because the larger amount you borrow, the more money they can get from you. Thus, check the price of the same car at various dealerships before finally saying a yes. When deciding the budget, consider the full price of the car that includes fees, add-ons, taxes and potential interest.
2. Acquire a pre-approved car loan: You don’t want any surprises before buying a car, especially if it concerns finances, isn’t it? For this reason, the best tip is to get a pre-approved auto loan. Since you’ve already decided to buy a car, your first step is to go to a bank and apply for an auto loan. Tell the bank the EMI amount you can pay and in this way, it becomes easier for the bank also to inform you the final loan amount, interest rate, EMI amount and other details.
But what’s a pre-approved auto loan?
It is a type of loan offered by banks to existing customers without the latter formally applying. Banks usually provide this offer to customers who have good credit points.
How can a pre-approved auto loan benefit you?
The best part of a pre-approved loan is that it comes with various benefits. These are:
- Zero documentation
- The loan amount is high
- Competitive interest rates
- The fund is instantly transferred to your account
How to get a pre-approved loan?
You are eligible for a pre-approved auto loan only when you have a clean credit score record with the bank. And how to ensure you have a great credit score?
- Pay the EMIs of your existing loans on time
- Clear off the repayment of your previous loans
- If you’re a customer for a long time
- Your current account is well-funded
Some banks in Australia that offer pre-approved auto loan are:
3. Display your best negotiating skills before the test drive: At times, car buyers visit a dealership and test drive the car they’re planning to buy. If the test drive offers an amazing experience, buyers purchase the car WITHOUT negotiating and that’s a blunder!
Experts recommend buyers (including you) must negotiate the price prior to test driving so that you know what exactly you’re bargaining for! And when bargaining, avoid being emotional and don’t allow the dealer to suggest financing options in the process of negotiations.
Here are some tricks to remember when you’re negotiating with a car dealer:
- The more knowledge you have, the better. Get as much information as possible about the car prices, auto loans, car features, the different car models, new car deals. Having these pieces of information can help you save thousands of dollars in the end!
- We know you’re searching for a car that caters to your budget but jumping into the monthly payment alone is the best way to get the worst deal. Instead, check out the car’s total cost that covers financing, add-ons, etc. Extending the loan over six or eight years reduces the EMI amount and is often considered to be a convenient method of repayment.
- Know what’s negotiable and what’s not. For instance, when it comes to taxes and registration, you certainly can’t negotiate, right? However, you can go ahead and mutually discuss the documentation fees, advertising charges and other miscellaneous expenses.
- If there’s something that the dealer has added to the car and it’s not required, like nitrogen in the tires and window etching, you can request it to be removed and you don’t have to pay for that.
- Let the dealer know you’re doing a cash purchase.
- Ask the dealer to explain the breakdown of all the costs and charges so that it’s easier to negotiate.
- Refrain from sharing your personal information or allowing them to run your credit.
4. How about bringing a friend or family member with you to the dealership: Buying your first car is surely exciting. But you know what? The joy is even greater when you bring a trusted friend or family member with you! Not only because sharing happiness doubles up your joy but also, they can prevent you from getting lured to the ’too-good-to-be-true’ offers!
5. Keep your emotions in the back seat: We have a heart and mind for two separate reasons. And when the topic is buying your first car, let your emotions take the back seat! And it’s good for you too. The car buying process is all about how knowledgeable and practical you can be; and for that, you must equip yourself with proper research, vital information and have a clear idea of what you want and need.
6. Buying a second-hand car? Let a professional auto mechanic look at it first: It’s perfectly alright to buy a second-hand car, provided you call a certified auto mechanic in Victoria to check the vehicle before purchase. Only a professional car mechanic can determine the actual condition of the car and recommend the repairs required. Don’t worry! Most dealerships allow mechanics to check any used vehicles before the purchase to ensure everything is in the right order.
It’s not one or two years; you’ve been dreaming about owning this car for a looooooooong time. But for any woman, buying the first car can be a stressful experience when you don’t know how to go about it. But now you can sit back and relax! Because we’ve shared the six most important tips that will help you grab the best car deal without getting tricked. In addition, if you’re searching for the best place to buy auto parts in Victoria or auto mechanics, make it a point to check out Swezo, Australia’s top-ranking online marketplace that connects trusted auto part sellers and mechanics in Victoria and other parts of Australia. Visit Swezo for more information.