3 Tips on Buying a New Car

You’ve been a savvy saver and graduated from buying a used car. Now that you’ve put away enough money to buy a brand, spankin’ new car, here are another three tips to help you choose your next vehicle.

Safety first

As the car you’re buying is new, you shouldn’t have to worry about pre-existing faults that could be an issue for your safety. But just because it is fresh out of its packaging doesn’t necessarily guarantee that it will protect you in a crash.

Run your shortlist of cars through the Australasian New Car Assessment Program (ANCAP) database online to check out its safety rating. ANCAP runs tests on all new models of cars and then assigns a star value based on how their crash dummies fare in a simulated accident.

As the chance of being injured in a three star car is twice that of a five star, you should choose five star cars if possible. Don’t settle for less.

Those pesky extras

It’s the car salesman’s job to try to upsell you on extras such as seat material, window tinting and rust/paint protection. Be careful, because sometimes you can do the extras yourself, such as fabric protection.

The other ‘extra’ to be cautious with is extended warranties. Car dealers sometimes get a large commission out of warranties but they may not be transferable between dealers. Like any legally binding document, make sure you read all of the fine print before signing if you decide on getting an extended warranty.

Save the planet (and your wallet)

Here at the Border Bank we provide various car loan options including a special Green Rate car loan. This loan is available when we finance a vehicle with a minimum greenhouse rating of 6.0 or higher as determined by the green vehicle guide.

Not only will you be saving the environment from pumping less pollution into the air but you will also be paying less in the long run with a more fuel-efficient car. As we know, fossil fuels will not be around forever and with petrol prices increasing a more fuel-efficient car reduces how much you pay at the pump.