We all love the smell and feel of a brand new car, but nothing hurts your back pocket quite like that 10-15% depreciation speed hump you drive over as you leave the lot in your brand new wheels – ouch! Buying nearly-new can save you up to 40% of the equivalent new purchase price, with many of the same new-car benefits. Going older can save you even more, but with increased risk. Today, we’re sharing our buying a used car checklist to help you avoid the dreaded ‘lemon’ and keep your wallet happy!
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Do your homework
There are advantages and disadvantages of buying a used car. One of the drawbacks is the depth of research needed to make sure you’re getting a good deal. Take your time working out what type of car best fits your lifestyle and needs. Browse online to get an idea of price ranges across dealers, private sales and auction houses, and read a range of reviews for the makes and models on your shortlist. Buying used will mean you’ll have less choice in terms of colour preferences and particular features, but you have the added bonus of someone else having taken the depreciation hit for you!
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Check the history of the car
Once you’ve found a car that ticks your boxes, it’s time to look into its history. This is particularly important when arranging a private sale. In addition to asking the seller how long they’ve owned the car, their reasons for selling it and if it has any history of damage, VicRoads offer a free online registration check service that will give you confidence that the vehicle you’re considering isn’t stolen or encumbered by outstanding debt. A top tip for buying a used car from a private seller is that it’s worth being skeptical if they cannot provide you with a full service history for the vehicle – low kilometres on the odometer (particularly in older vehicles) are best verified against a logbook with stamps and receipts. If something doesn’t feel right, trust your instincts. One of the advantages of buying a used car from a dealer is that they will have done their own due diligence on a vehicle’s history before purchasing it themselves, and while their purchase prices will generally be higher than those of private sellers, this can offer you greater confidence that you’re buying a vehicle in good condition.
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Go for a test drive
Step three of our buying a used car checklist is to go for a test drive. If you’re buying a second hand car from a dealer or through private sale, arranging a test drive is a must. Make sure the vehicle is adequately insured before you set off, and plan to drive down quieter roads where you won’t be too distracted by traffic to listen out for any tell-tale engine noises. Keep a list of what to inspect when buying a used car, including:
- Exterior: walk around the vehicle and check for any signs of damage, rust or leaks (this is much easier if you inspect a vehicle during daylight hours). Check tyres for any damage that might indicate issues with steering alignment.
- Under the bonnet: again, be on the lookout for rust and leaks. Start the engine while the bonnet is open and let it idle – listen for any excessive noise or odd sounds, and look for exhaust fumes.
- Transmission: while driving, listen and feel to see if the transmission shifts smoothly through all gears. Try to test the car at various speeds, hitting the highway if you can.
- Brakes: carefully test the brakes and brake lights as you drive, and try parking on a hill to test the handbrake.
- Warning lights: keep an eye out for any warning lights on the display that might indicate concerns.
Don’t worry, you don’t have to be an expert! For the most part, your test drive is an opportunity to look for any shaking, pulling or instability as you drive. If you sense any of these things, move on to the next car or seller on your list!
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Have a licensed mechanic inspect it
So you’ve taken the car for a test drive and it felt okay? Great! Now it’s time to check in with some experts. You can trust the experts at Cox Auto to give you an independent, honest and unbiased opinion. Our pre-purchase inspections check over the car extensively to help you avoid ending up with a damaged or costly vehicle in the near future. Our evaluation includes checking for damage of the car and assessing the condition of the car’s operation. Overall, we are here to look out for your safety, and help you find the perfect used car to suit your needs. Book in now, or give us a call to discuss how we can help.
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Check warranty
It’s important to understand your legal rights when buying a used car. The warranty arrangements on your vehicle depend on its history, and how you make your purchase. If you buy a used car from a licensed dealer in Victoria that is less than 10 years old and has fewer than 160,000km on the odometer, you’ll receive a three-month or 5,000km (whichever comes first) statutory warranty. This statutory warranty is just part of why we suggest limiting your second hand car search to those vehicles with fewer than 160,000km under the belt – after all, fewer kilometres also means less wear and tear!
Cooling off periods also apply to purchases from licensed dealers in Victoria. Private sales are not protected by consumer law, so if you buy your second hand car through private sale, the only warranty likely to apply would be a manufacturer warranty, subject to appropriate servicing and associated terms and conditions. Check the logbook for details, or consult Consumer Affairs Victoria for more information. Once you’ve made your decision to buy a particular used car, then it’s time to consider what paperwork you’ll need to complete the purchase. VicRoads have clear guidelines on what is required when buying a second hand car, including obtaining a certificate of roadworthiness, transfer forms and receipts.
Want to chat through our buying a used car checklist?
If purchasing a pre-owned car still feels overwhelming, drop in or give us a call. We’re always happy to talk you through the process and help where we can. Whether it’s a pre-purchase inspection or general advice as you work your way through our buying a used car checklist, Cox Auto is here to provide you with complete confidence for buying your second hand car, and we’ll be here for the lifetime of your vehicle, too.
