For buying a car in Sydney, a customer has to remember a few important things. The first and foremost thing is how to obtain the finance or loan and the second is searching for the car.
In Sydney, car finance can be available from a number of sources. A large number of banks, credit unions, and building societies offer car finance in Sydney. It is advisable that the customer does not go for an unsecured loan while seeking car finance. The “low doc” loan market provides car finance to borrowers who are self employed, have a bad credit history, and who cannot afford to secure a loan from the banks, credit unions, or building societies.
Following are few tips that may prove helpful for a car buyer in Sydney. An interested car buyer can buy car from the following sources, but they carry their own advantages and disadvantages also.
New Car Dealers
Usually, new car dealers specialize in a specific car brand. They also stock used cars carrying the similar brands and other brands they bought from another vendor. A new car or used car bought from a new car dealer often carries warranties as delineated by the legal requirements of the particular state government or the car manufacturer.
Used Car Dealers
In terms of stock held, there is a wide range of used car dealers in Sydney. A car bought from a used car dealer is quite cheap in comparison to a car bought from a new car dealer. A used car dealer specializes according to the brand, type of vehicle, price of the vehicle, such as a 4WD specialist.
Both the new car dealers and used car dealers should ensure good title on cars sold.
Auctions
The majority of dealers buy a large number of used cars from auctions. As a result, savings to the extent of 7%-15% can be made on the procurement price by buying a car from the auction. However, there are some problems related to buying a car from the auction. They are:
- The condition of the car cannot be checked. Usually, the customer is not permitted to have a test-drive on the car.
- For cars purchased from auctions, no warranties are available.
Private purchase is one of the cheapest ways of buying a used car in Sydney.
The popular car brands that are available in the city of Sydney are BMW, Ford, Toyota, Kia, Lexus, Nissan, Proton, Hyundai, etc.
Some of the leading car finance companies in Sydney include the following:
- Easy Street Financial Services
- Gateway Credit Union
- HSBC
- IMB
- NAB
- Power Credit Union
- Royal Guardian Mortgage Corporation
- Sydney Credit Union
- Unicom Credit Union
- ANZ Bank
- Commonwealth Bank