Dealer or Private? – Handy Hints

If you're looking to buy a car or vehicle, the odds are you will end up negotiating with either a dealer or a private vendor. So what are the pros and cons of each – and what pitfalls can you avoid?

Tips on a dealer sale
 

  • You can choose to trade in your old vehicle as part of the deal
  • The vehicle is more likely to have been serviced recently and in good working condition
  • Dealers can be more realistic on prices and more willing to negotiate
  • Peace of mind
  • All national Licensed Motor Car Traders must abide by a Code of Business Practice that, depending on which state you're in, includes a cooling-off period, warranties and refund facilities if the car proves to be stolen.

Tips on a private sale
 

  • You don't need to pay GST on the car
  • You're not forking out that extra profit margin to a dealer – saving your hip pocket
  • Private vendors are not subject to any code of practice – so it's up to you to ensure a vehicle is up to scratch, both mechanically and legally
  • The seller doesn't have to provide a warranty
  • More running around required, ensuring all the necessary documentation is up to date and legal
  • Most people are unaware that you can obtain a warranty on a vehicle being purchased privately. Ask UFS how.

UFS can help

Whichever way you choose to go, UFS can help! When it comes to all things car-related, that's our business. Contact us for friendly advice and services on:

  • Providing pre-approved loans
  • Organising a Revs check
  • Organising insurance on the car
  • Helping you choose your car
  • Organising a vehicle inspection
  • Providing you with a price guide on your vehicle.

MoneySmart can help too

You can visit ASIC's website called MoneySmart which provides financial tips and safety checks. To assist you make a good financial decision, ASIC have published a Car Loan Factsheet.
Read more...