Remunerator News

Jan 21 2020

Our Advice to Novating a Used Car

Buying a used car is a fantastic way to buy your dream car at an affordable price. However, before you get to drive away in your ‘new’ car, every buyer and seller need to perform some sort of negotiation. But don’t fear, we have some helpful tips for you when purchasing your ‘new’ car.

Checklist for buying a used car:

  • Work out what you need in a vehicle:
    • Specifications
    • Packaging
    • Price
  • Establish your budget and do not exceed this
  • Do your research:
    • Find out what to consider when choosing your novated lease here
  • Establish in advance what you think is fair to pay for each car before you inspect it
  • Be prepared to adjust your estimate or even walk away if the car doesn’t meet your expectations
  • Take along a supporter or expert guide to help you
  • Check the owner’s manual for regular servicing (question any gaps in the history)
  • Question anything that doesn’t appear or smell right
  • Negotiate with a ‘poker-face’ – no tells that you’ve already bought the vehicle to the owner
  • Be prepared to walk away if:
    • The purchase price exceeds your budget
    • The seller seems dodgy
    • Your expert is concerned about the car
  • At the conclusion of negotiation:
    • Arrange the transfer of funds through a safe electronic facility
    • Fill in registration transfer documents in the presence of the seller (ask for photo ID with a valid address)
  • Ensure insurance cover is arranged prior to driving away
  • Arrange a novated lease for your ‘new’ car

For more information contact our novated leasing specialists on 1800 501 703 or or request a quote here