Hi ozbargainers!
Just wanted to ask for some guidance and tips for buying a second hand car? I have never owned a car and have no clue what to check except maybe (after some googling) to:
Aside from insurance, are there other costs that I should consider (insurance, maintenance)?
Thanks
^ This times one million.
1aa. Wait 6 months
hi, can you expound why I need to wait for 6 months? Does it have something to do with the market at the moment due to the covid situation?
That's correct. Unless you desperately require a car I would hold off until prices start to cool.
Only problem might be, will it get any better in 6 months, that remains to be seen…
But yes, the market is shocking at the moment, I had a look a couple of weeks ago and decided against it as cars that were less than about 5 years old were crazy prices second hand.
Thanks - I'm still in the research phase and am looking to buy after the financial year end. =)
There are plenty of ‘buying a used car’ tips online. Go read a few of them and come back wit any questions you have.
The first thing to do is find it what type of car you want and set a budget. Only you can determine what budget suits, we don’t know your finances. Different risk profiles for people will mean different budgets as well. Some people have plenty of cash and wouldn’t dream of anything under $10-20k. Others are happy with less. Personally I reckon you can get a decent basic car for $7-8k but wouldn’t worry too much about a $3k car if that all I could afford (looking at that budget for a learner soon)
Only you can determine what the vehicle will be used for. Things like passengers, cargo, country or urban travel, commuting etc. Fuel economy will need to come into it too.
Once you work out budget and type of vehicle come back and ask which of 2-3 we recommend.
Simplest guide for used cars is Japanese or Korean.
Thank you for your reply - will do :)
My personal strategy……
Buying strategy:
Buy a car under 200,000kms
Filter car search by lowest km's
Find the sweet spot between low KMs/cost
Buy common cars because of repair cost.
Buying private is fine, dealers can be just as dodgy as people and are usually more expensive.
Check rwc, rego, ppsr
Mechanical:
Check the engine oil, is it dark brown or just normal coloured.
Check the automatic transmission oil, is it bubbly, or not at the correct level when the car is running.
Feel for shakes and wobbles.
Check if the brakes work effectively.
if possible get the car up to 100km/h on highway
See if it has a service history and how much has been done.
Don't buy french cars.
My buys over the last decade or so
In 2010: 1998 VT commodore 180,000kms $2500
In 2015: 2008 Hyundai Getz 60,000kms $6500
In 2016: 1998 Ford Courier $700 210,000kms
In 2019: 2004 Lancer 160,000kms $2100
In Covid 2020: 2008 commodore sportwagon 169,000kms leather seats $6250
Even though these cars were old, I have never had a significant breakdown or major fault in them.
To be honest, sometimes I feel that people with new cars on ozb have more faults then I have.
Also because I have bought at the lower end of the market, I have never lost out majorly selling a car.
It might not be everyone's cup of tea, but good cheap buys on the used market can be quite reliable and satisfying.
Thank you - your reply has been very helpful and has given me some insights esp. as your max purchase $$$ is quite close to my budget.
1b. Run a PPSR check.