When looking for a new or used car you not only want to ensure that your car is going to be safe and reliable but that you are receiving good value for money. Private sales are often a good way to get value for money as the vendors are usually keen to sell to make way for their own new car. However, doing this you must take some precautions first.

Unfortunately, using the private market for the purchase of a vehicle does make it easier for fraud to be committed. There are a number of ways to protect yourself from this happening. Try to view the vehicle at the seller’s home address and ensure that the address on the registration certificate matches the address of the seller. Take the details of the vehicle with you so you can double check that the car advertised is indeed the car that you are viewing.

When viewing the vehicle make sure that you do this in daylight and not in the rain. By viewing the car in the rain it could potentially conceal any dents or other defects. Take the car for a test drive on the open road and on local streets, up and down hills and using different speeds whilst also checking the brakes. If you are satisfied with the look of the vehicle and wish to purchase it then it is wise to seek the services of an independent mechanic to thoroughly investigate the vehicle. It may seem like an unwanted out of pocket expense, but it could potentially save you thousands of dollars in the long run and not only that, just give you peace of mind.

If you are in need of finance for your next vehicle ensure you seek a good car finance deal too. Call one of our friendly car finance experts on 1300 887 967 today.

There are a number of car financing options you can choose from when it comes time to look at financing your next vehicle. Car finance is available to both consumer and commercial customers. A standard loan is the most common type of finance used. It is when the financier lends the money to the customer to purchase the vehicle. The on-road costs of the vehicle can also be financed. If the loan is secured then the vehicle is used as security, however, if the loan is unsecured the interest rate will be higher. A standard loan will occur over a set term with fixed monthly repayments required. You can choose the length of the term of the loan thus affecting the repayments made.

A commercial hire purchase is when the financier purchases the vehicle and then hires it back to the customer until the loan is paid out. You have the option to finance the entire purchase price or have a balloon payment at the end of the term. This balloon payment can be then be later financed, usually by a chattel mortgage.

A finance lease is when the financier purchases the car and then leases it back to the customer, however, these leases are only available to individuals and businesses when the car is predominately used for business purposes. At the end of the fixed term the customer has the option to return the vehicle, sell or buy it for the residual amount or refinance. The repayments payable on a finance lease are tax deductable, however, GST is payable. Interest rates are low on finance leases as the finance is secured against the car.

A novated lease is whereby the customer leases the vehicle from the financier by way of a deed of novation thus repayments being taken from their pre-tax income. A fully maintained novated lease is whereby the running costs of the vehicle are also deducted from their pre-tax income. Unlike a finance lease a novated lease may be taken out on personal use vehicles.

A chattel mortgage is a fixed loan whereby the financier holds a mortgage over the vehicle. The customer is the owner of the vehicle but the financier has security of the vehicle by way of a mortgage. The total purchase price of the vehicle may be financed and a balloon payment can be made at the end of the term. The repayments are exempt from GST and the depreciation and interest are tax-deductible. As the loan is secured the interest rate is low.

When purchasing a new or used car it is more than likely that you will require car finance. There are a number of factors that you need to take into consideration when looking for car finance. By using a car finance broker they will be able to do the work for you in securing the best car finance deal available.

It is imperative that you are aware that the interest rate you are provided with is dependent on your ability and past ability to repay the loan. Lenders use what is referred to as a “Henderson Poverty Index” to establish what interest rate will apply. The factors taken into consideration are marital status, income, disposable income, length of employment and number of children etc. Your car finance broker will ensure that you are provided with an interest rate that is favourable to you once these factors have been taken into consideration. You credit rating is a big factor in determining your interest rate as if you have a bad credit rating the lenders see you as a bigger risk and therefore penalise you by charging a higher interest rate to protect themselves.

Interest rates are usually an indication as to whether you are receiving a “good deal”, however there is a great difference between the interest rate and the comparative interest rate. The comparative interest rate takes into consideration the additional fees and charges that may apply. Additional fees and charges include account keeping fees or service fees that are charged monthly and/or an upfront establishment fee. Your car finance broker will also take these into conseration when determining the best car loan for you as they can often increase your comparative interest rate by 5 percent.

The line-up of monthly surveys on confidence are now all showing the big problem with our economy right now is a decline of confidence. The business associations say their members are very apprehensive which is causing investment to be withdrawn and all consumer-lead surveys are worrying. The Melbourne Institute is leading the charge on pessimism claiming consumer confidence dropped 8 percent in the past month.

After the Productivity Commission recently suggested the credit card companies could be used to collect the GST on overseas mail orders bought on-line, VISA has firmly dismissed the idea. (The present GST-free threshold on purchases under $1000 remains despite various retail chains trying to get it lowered.)

As the top end of the retail industry suffers and a couple of fashion chains are also complaining, others say business is fine. Target for example continues to grow as does K-Mart. And Starbucks latest figures show an excellent 34 percent growth. Most supermarket chains are showing around a 3 percent growth on this time last year.

Around $10 billion annually is now going out of this country for on-line shopping with overseas retailers. This is the latest estimate tracking a fast expanding trend which our rising dollar is fuelling. Incredibly no less than $4 billion of that is from under-21 year olds with their own credit cards.