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Leasecorp

What do we finance?

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People are often surprised at the variety of products we finance for our clients.

Over the last 28 years, we have developed an extensive network of customers from an array of different industries such as farming & agriculture, construction & excavation, transport & heavy haulage.

One of the best parts of our job is travelling to meet our clients, developing lasting relationships and learning about how their business operates.

We feel that by having a more in-depth understanding of our clients and the businesses in which they operate we can provide a more tailored service.

Our six main leasing categories are;

Automotive:
Vehicles are the highest volume items that we finance for our customers. We aim to make this process as stress-free as possible, taking care of all paperwork and in most instances the dealer negotiation process.
With so many cars to choose from selecting the best can often be difficult. We pride ourselves on our fast vehicle finance with most approved on the same day.

Transport & Logistics:
Our clients are scattered around the east coast of Australia from far north Queensland to Melbourne and transport a range of different products around the country. The Australian trucking network is of vital importance to our supply network.
The demand is consistently high meaning our customers often require new trucks and trailers at short notice to ensure they can meet the request of their contracts.

Civil & Construction Equipment:

This would be our second most significant segment of customers.
Our clients range from piling and drilling companies to earthmoving, road works and construction. As Australia continues to experience strong growth, most of our customers in this sector are as busy as they’ve ever been. Our job is to ensure we can provide funding when they need it most, whether that be a new excavator, crane, drilling rig or concrete pump.

We meet just about all clients at their home, office or job sites, to ensure the process is as effortless as possible allowing them to continue working on the things that make them money.

Agriculture equipment & farming:
With an abundance of land and fertile soil, agriculture is an integral part of our economy. Our farmers are some of the hardest working people we provide funding for and due to fluctuations in growing & weather conditions they often experience cash flow issues, making the selection of suitable finance structures of vital importance.
Over the years, travelling to rural areas of Australia has enabled us to develop an extensive supplier network meaning we can often source tractors, harvesters, tillage and seeding units a far more competitive prices.

Office Fitout:
Lots of our customers update and expand their offices or workspaces and often require considerable amounts of money to complete this. We can arrange finance to assist with the fit out of offices, retail shops, restaurants, medical & dental surgeries and much more, either in whole or part.

Speciality: (marine & aviation): 
A few times a year we have the speciality items such as superyachts and private aircraft. Primarily the planes and helicopters we finance are for our farming clients on large rural Australian properties who use these items as their vehicles to check on livestock or aspects of the property. We love travelling to meet them in person and getting to experience the beautiful landscape.

If you have a finance enquiry or would simply like assistance sourcing a product we’d love to help.

Give us a call on 1800 232 615 or request a call back via the link below.

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Top luxury vehicles of 2017

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As we near the end of the year, we thought we’d put together a list of some of the most popular luxury and premium vehicle of the year.

Starting off with Audi, this year the new Q2 and RS3 sedan have both been very popular in Australia.

Audi is notorious for correctly addressing gaps in the market, and the Q2 is an excellent example of this. The interior is similar to the A3, and the base model comes equipt with Audi Connect, which includes an in-car Wi-Fi hotspot, Google search, Google Street View and Google Earth.

These have successfully attracted a younger crowd as a cheaper entry point into a premium brand.

The RS3 sedan has been a surprising one this year given its $84K price tag. We have had a number inquiries from clients as a result of some fantastic online reviews detailing the incredible engine note (produced by a 2.5-litre five-cylinder turbocharged engine), In-gear acceleration, excellent fuel economy and updated brakes.

From one German company to the next BMW has had some winners this year with the new X3 and 5-series.

In Australia, BMW’s SUV range has been prevalent. But with an increased demand for smaller 4×4’s the company has focussed heavily on strengthening and refining its X3, so much so that the 2018 model is said to be BMW’s best selling car. Impressive interior leg and headroom. As expected the X3 is receiving a lot of praise for its class-leading technology and connectivity

Now to the executive saloon, the new 5 series BMW is available in four different classes and even with the $93,900 entry point dealers are receiving orders left, right and centre.

Australia’s seem to have a soft spot for the Land Rover brand. This year we have been inundated with inquiries about the the new Discovery TD6 and the smaller Discovery Sport. Both new vehicles have incredible off-road capabilities and a sleek facelift.

The new Velar is probably the biggest head turner from the company this year. The entry-level model is priced from $70,662 plus on-road costs and boasting equipment such as auto headlights and wipers, electric park brake, torque vectoring, hill-descent control, hill launch assist, gradient release control, cornering brake control, autonomous emergency braking, lane departure warning, and trailer stability assist.

Back to Germany, the Mercedes-AMG E45 although starting at an eye-watering $159,900 has been remarkably popular including all the usual E class luxuries like Nappa Leather upholstery, Air-Balance package, AMG body styling, AMG 4Matic all-wheel drive, 20-inch AMG wheels, a sports exhaust system and a sports braking system.

Leaving Germany and heading north to Sweden the Volvo XC90 has been another stand out amongst our client base this year. The T6 R and D5 the two most popular models. For the price point, Volvo leaves the others in the dust for cabin design and materials and space and practicality.

If you have a finance inquiry or would like assistance finding, selecting or securing a new vehicle, we’d love to be assistance.

Contact us today to secure your new vehicle before Christmas.

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Finance and lending Q & A for The Fox Group

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Finance and lending Q & A for The Fox Group

We recently sat down with Central Coast-based Chartered Accountants The Fox Group to discuss some common questions within our industry.

What are the main reasons finance is knocked back?

Occasionally we see clients who have defaulted on a telco and other accounts on a regular basis. If you have had a dispute with another business, it is vital to have it resolved. Because they usually then list an unresolved account on your credit file for all lenders to see.

What are the things lenders are looking at when considering finance approvals? Where do they look & what information is visible in your credit file? What to do if you have something to your credit file?

They are looking for the customer that has been in business at least two years and registered for GST. For a large purchase, they would most likely want up to date financials as well as a commitment, asset and liability statement.

For cars, up to 100K, we mostly don’t require any financials just proof of good past credit. Your credit file, unfortunately, tells any lender your true credit history. All loan inquiry, any defaults, court orders and judgements. It will also disclose any companies you are a director of. Tax dept debt is the latest to be listed on your credit file. Credit repair agencies may be of some assistance if you are trying to clean up your file however they are very expensive.

Do multiple applications hurt? Are you better off getting the application right from the start?

Yes, they do indeed, the more credit file applications, the more your credit score is eroded. Shop around first before pressing the button.

What should a borrower have to make the lending process a smooth one?

Up to date financials, forecasts, management accounts, Clean portal history with ATO, etc.

These days an honest declaration of all assets and liabilities as the financier can see your debt as the banks now share the information under new lending guidelines. ATO debt is a big negative for all banks now. On large deals, they want it cleared before approval, and in most cases, this is very difficult.

How to secure the cheapest overall costs of finance? I.e., How to get the best rates. Any suggestions

Use a finance broker who is tapped into all the banks and is offered their best rates on a weekly basis. Stay clear of car yard finance.

What are the main types of finance offered in the industry for Plant & Equipment? Does it matter these days?

Mostly Chattel Mortgages for the self-employed. Novated leasing for salary packaging and Rental for Schools and Hospitals.

Balloon or No Balloon? Does it matter?

I tend to like no balloon as you will get equity in your purchase much faster. Still, most people do take a balloon to keep the payments at a manageable level. You have to be very careful having a long-term finance contract and a high balloon on a vehicle that does not hold its value. If the car is worth less than the outstanding balloon at trade-in time, you’ll have pay the shortfall.

What are some of the myths with finance? i.e. : You need to have had a credit card to have a credit history?

No, you don’t many people only have a debit card. If you do not have any credit history, then you don’t have a credit file, so funding is harder to get. Paying cash all the time may work against you.

How can some dealerships offer 1% finance on new vehicles & equipment?

The product they sell is called a subvention contract. You pay full retail for the car then the car yard has to give the finance company up to 8k to cover interest. The trouble with this is that you have to have a balloon on the end that is a percentage of the full sale price on t the discounted price, so you are always paying more overall. Negotiate the best deal and fund the car with a separate financier.

Any tips for negotiating the best price on new equipment? Eg End of the quarter, etc.

End of the calendar year, end of month end of June are always the best times. I always see the best deals if the sale is negotiated in the last four days trading as long as it can be delivered by the end of that month.

What are the key advantages you believe in using an equipment broker vs a Bank? Eg, Speed, multiple pricing options, etc.

All good brokers will shop around and negotiate the best deal as far as rate, penalties, and fees. On large loans some banks may be slightly cheaper than others, however, will have a considerably long and arduous application process. We always inform the client if another lender may be cheaper and ask them for say $450 per month do they want to spend days collating pages of questions. Cheapest is not always best.

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Why should I use a broker instead of going to a bank?

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Why should I use a broker instead of going directly to a bank?

This is a question we hear a lot, and when sourcing finance it is something that can be confusing. There isn’t necessarily a right and wrong option, it all comes down to specific business requirements, the desired level of service, specialisation and time.

We thought we’d simplify it by detailing why a lot of people do use brokers and Leasecorp in particular.

Large Lender Network:
At Leasecorp we have established relationships with more than fifteen significant Australian lenders. This enables us to find you not only a competitive finance rate but also enhances the possibility that your funding will be approved. On the other hand, a bank representative is restricted to not only one rate but a limited number of lending products and structures. Our financiers know that every client and business is different and by strategically presenting your application to the right lender significantly enhances the possibilities of approval. This approach has enabled us to maintain a 98% approval rate.

Personalised service – ‘It’s all about you’:

We pride ourselves on offering a 5-star personalised service every time. Every individual client is assigned their own financier that will work with them one on one for the duration of their time with us. We love getting to know all our clients and the businesses that they run or work for. We will come and meet with you at your home or place of business. We take care of all the paperwork and dealings with our lending partners to enable you to get on with more important things.

Access to National Fleet Listings:
Being in business for over 27 years has allowed us to form relationships with dealers and suppliers Australia wide. This means that in addition to providing finance we can source vehicles, heavy equipment, trucks, buses & boats at fantastic rates.

Lightning fast approvals:
On average our approvals are complete within 24-48 hours after submission, in some instances in the same day, an element of our service that continues to make us popular with our clients.

Specialisation – We know your business:
Our clients come from a variety of different industries and professions from drilling, excavation & transport to pilots, engineers, and architects. Our experience dealing with clients and continued research carried out by us over the years has enabled us to develop in-depth knowledge of the various industries our clients come from. This experience is vital when deciding which lending partner and structure is most suitable for you.

Peace of mind:
Unlike banks, we are here to help throughout the duration of your loan and are your private funding partner for whatever you or your business may need.

If you’d like a quote or assistance sourcing a new or used vehicle or piece of machinery, we’d love to be of assistance.

Either contact us in reply to this email, via the link below or on 1800 232 615.

‘Let’s get you approved today’. 

Our favourite Ute’s of 2017

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Inspired by last weeks unveiling of Mercedes-Benz’ new X-Class ute, we thought we’d put together a list of our top five favourite and best selling utilities of 2017 so far.

Firstly a bit about the new X-Class and available engines. In Australia, it will come in the X220d a 2.3-litre four-cylinder single-turbo diesel with 120kW of power and 403Nm of torque. The X250d – a 2.3-litre four-cylinder twin-turbo diesel with 140kW of power and 450Nm of torque and finally the X350d – a 3.0-litre V6 turbo diesel with a class-leading 190kW of power and Amarok-equalling 550Nm of torque. (Won’t be available until mid-2018.)

Although not set to hit our shores until early next year, they’re expected to be competitively priced in the $45k-$55k range, the mid-spec in the mid-$50k to mid-$60k and the Power version could reach new levels for dual-cabs in the Aussie market.

For more on the X-Class head to http://www.themotorreport.com.au/65397/2018-mercedes-benz-x-class-ute-revealed or for order enquiries and finance enquiries give us a call on 1800 232 615.

Now onto our top five starting from the back;

5. Mitsubishi Triton:

Starting from number five, this year we have funded, test driven and delivered lots of Mitsubishi Triton for our clients.
Firstly the styling additions add to the exterior appeal of the sometimes polarising Triton (although not the strongest points).
– Upgraded class leading diesel engine and gearbox combo are excellent.
– Infotainment system now at the head of the segment.

4. Toyota Hilux:

To one of Australia’s all time favourites the Toyota Hilux which topped the May and June sales charts.
Although no petrol or supercharged options anymore, the TRD aesthetic inclusions certainly add some flair to the Hilux flagship.
– Excellent engine refinement
– Smart Transmission
– Improvement to cabin space
– Better settled when loaded up
– Great LED headlights

3. Holden Colorado:

Although previously struggling in the sales department, the new facelift and equipment updates have made it a much more attractive option to the Australian buyer.
The Colorado now includes seven airbags, rear view camera, Apple CarPlay (first in class), digital radio, cruise control, digital speed display, remote entry, automatic headlights, LED daytime running lights, auto “up” power windows on all four doors, and rear air vents on crew cab models.

Additional improvements include sound deadening between the engine and the driver. The front side windows are now 4mm thick rather than 3mm, to dull road noise. New rubber mounts for the engine, transmission and body are designed to improve refinement.

2. Volkswagen Amarok:

If ride quality is important to you, the Amarok is a step above the rest, both unladen and laden it is excellent.
– Cabin design and finish are the best in the segment by some margin.
– The V6 the most powerful in the class (165kW  (180kW with ‘Over-boost’) and a thumping 550Nm of torque from a low 1500rpm.
– New multi-collision braking system that stops it from rolling forward after an impact
– The grille and front fascia have been refreshed, giving the already handsome Amarok a bolder new face.

1. Ford Ranger: 
Ok so if it’s strictly the price that you’re concerned about this one may not be for you. Having said that the Amarok-ish price point is well justified with the number of inclusions and features of this particular Ute.
By far the best and most consistently comfortable ride, handling, suspension and balance, delivering a smooth and forgiving ride on a range of surfaces, even heavily weighted down the Ranger remain secure and stable.
– Front and rear parking senses with reversing camera (adaptive grids).
– Radar cruise control & lane departure
– Apple Play and adequate USB and 12V sockets front and rear reversing camera.

It will be interesting to see how the Mercedes X-Class goes up against both the Amarok and Ranger early next year.

Industry rumours Ute concepts and new introductions:
– Tesla Electric Pickup
– New Dodge Ram (Australian spec)
– Jeep Wrangler Pickup

If you’re looking to upgrade, want to arrange finance or utilise Leasecorp’s ‘car buying service’ to ensuring you get the best price and value on your purchase – get in touch with us below. 

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Do’s and Don’ts of driving in Ice and snow?

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With a lot of our clients planning on heading to the snow this season we thought we’d put together a Do’s and Dont’s of winter driving to ensure that drivers are prepared and stay as safe as possible.

Thankfully in Australia, we don’t experience the real winter extremes of Russia, Canada or Alaska, however driving in icy wet conditions anywhere can still be dangerous.

Don’t:
– Warm up your vehicle in an enclosed area
– Warm your car up for too long before driving (your engine will warm up faster and more efficiently driving)
– Apply hand brake when parking (break can freeze)
– Use cruise control
– Leave windscreen wipers down
– Risk driving without chains in 2 wheel drive vehicles (Check out here)

Do:
– Accelerate/Decelerate slowly to maintain traction and avoid skidding.
– Drive slowly
– Consider adding anti-freeze to your engine radiator
– Keep fuel levels topped up
– Use your lights
– Be conscious of Black Ice
– If driving a diesel vehicle, try and use ‘Alpine Diesel’ if available.
– Increase driving distances to other vehicles to allow for longer stopping times (5-6 seconds).
– If driving in snow, try to avoid unrequired stopping especially on inclines.
– Track weather reports
– Carry a torch (and spare batteries), blanket, dry, warm clothes, tow rope, shovel, wheel chocks, spare food and water, and a first-aid kit.
– Clear ice from windows and mirrors
– Engage 4×4 in snow or ice conditions
– Have your car serviced before embarking on your journey.
– Keep bottles of water in the car

Stay safe & enjoy your trip!

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Are the EOFY deals all they’re cracked up to be?

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Are they even worth it? Well if you’re considering purchasing a house…maybe not.

However, for buyers in the market for a new car, there really are huge saving to be made in June.

This is a result of increasing competition between car brands in the Australian market, as well as the Free Trade Agreements with Korea, Japan and soon China and eventually Europe.

The motor industry is experiencing more competition than ever before to close Australian books on a financial high.

Most manufacturers will present significant price discounts, value-add deals such as free on-road costs or upgrades to encourage heightened sales figured to round out the financial year.

For private business owners looking to balance out their taxes, there is an added incentive in end of financial year purchases with a new set of wheels. And with the recent move to accelerate depreciation on purchases under $20,000, a cheap new car is an easy win against the tax man.

Contact us today with the type of car you had in mind and we’ll begin searching our National Fleet listing to find you a great deal.

Tips:
– Know the exact car you want
– Know the previously listed price before visiting the dealer
– Don’t be pushed by salespeople trying to get you in a model you weren’t looking for.
– Ask for better deal
– Get your finance before your start your search.
– Biggest savings on Hyundai, Mazda & Kia who have all had a fantastic year.

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Why use a finance broker?

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A strange question for a finance company to ask right?

We are often surprised when we hear clients have previously only relied on their banks for their loans.

It tends to generally be a lack of understanding that people believe financing through their existing bank will be the cheapest, quickest and easiest solution. Unfortunately, this in many cases couldn’t be further from the truth and means people are missing out on various saving opportunities.

There are countless reasons why it pays to use a broker when shopping for your loan, and even if you want to use your own bank, you can still use a broker to process paperwork and manage the application on your behalf.

If you are not set on using one particular lender then it pays to seek the services of an experienced broker.

The first reason is;

Choice:

The biggest advantage of using a broker over a bank is choice. When you sit in front of a broker you are sitting in front of 10 plus banks and 50 + products versus visiting a banker who has access to only one bank’s products. This is especially important at time like now, when the banks are saying ‘no’ more, and by having more choices you’re likely to get a ‘yes’.

Experience:

At Leasecorp we have been helping clients build their businesses for over 28 years. We pride ourselves on knowing our client’s and the industry to which their businesses operate in. This enables us to ensure we select the most appropriate finance product as well as the most suitable lending partners. We are committed to our clients and have in most instances life long relationships. Banks move their staff around and reward good performers with promotions away from their customers.

Specialisation:

If you’re looking for specialised assistance with your loan, it pays to talk to a broker. Whether your business is in Earthmoving, Transport or Heavy Haulage, our staff are experienced in dealing in your industry. Bank staff often don’t have the training or experience in one area, but service whoever happens to walk into the branch.
For every application that comes through our office, one of our finance managers will personally visit the client at their home or workplace to take care of all paperwork and processing.

Our service includes a ‘product finding service’ that involves our staff searching our national fleet database to ensure you purchase the best value car, truck or excavator available, unlike a bank we’re not just about delivering the money.

Follow Up & Personal banker:

Most of the applications we process are approved with 24-48 hours, if they take longer we update our clients frequently as to the hold-up and the expected approval.

A lot of the time Leasecorp works with both our clients and their trusted accountants to ensure we structure the most suitable loan solution with business growth in mind.

We look forward to welcoming you to our business family.

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There’s a right and a wrong way to buy a new car

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Our most recent article was focussed on ‘tips when purchasing a used car.’ So we thought we’d also detail some useful advice to assist you when purchasing a new car.

Over the last 30 years, the internet has changed the way we as consumers search and compare products and services. In regard to the motor trade, this now means that most people spend days if not weeks researching their desired vehicle by the time they enter a dealership, equipt with a clear idea of pricing and model variances.

This is a great thing, as information in power. Knowing exactly what vehicle you want means that you are less likely to be guided into another car by a salesman looking to clear slow-moving stock.

While research is important it pays to ensure you are doing the right research. This should include finding out how long the particular vehicle you are looking for has been in production and whether it is about to be superseded by a new one. There is nothing wrong with purchasing a cheaper car as long as you are aware that the introduction of a new model may impact the resale of yours.

Ok so let’s cut to the chase, what to look out for.

1. 0% finance:
When some car dealers in Australia advertise incredibly generous finance deals, the purchaser may find themselves buying the vehicle at full retail price. There most likely won’t be any discount on a new car which is purchased using the dealer’s finance. The dealer may offset any loss brought on by his generous finance offer, so it is best to have your financing provided by a reliable third party and aim for a new car discount from the dealer.

At Leasecorp we help hundreds of clients a year secure finance for new and used vehicles at highly competitive rates prior to them stepping foot in a car yard, this enables them to know what they have to spend and what they can afford.

As a test, walk into a dealer that is offering 0% finance and ask for the total repayment figure.

2. Quotes:
Always get a quote in person and in writing, this will help you negotiate with other dealers on the same make and model of the vehicle.

3. Negotiate:

When beginning price discussion with the dealer understand that the manufacturer’s list price is often nothing more than a starting point with most new car dealers willing to negotiate if they can tell you’re serious.

Let us do it for you. We love this phase and enjoy getting great results for our clients. Our national fleet listing means we can shop your rate across many dealers to ensure you get the most value for your purchase.

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4. Trading in a vehicle:
A trade-in can seem quite convenient and straight forward but do your research on trade in prices before mentioning this to the dealer and keep in mind they will often pay less than market rates because they, in turn, have to make a profit on the vehicle when it’s sold.

We typically encourage our customers to consider a private sale as an option. If your car is in relatively good condition and has adequate service records, you could get substantially more money.

5. Don’t rule out a demonstrator vehicle:
Once a dealer has registered a new vehicle it is technically considered second hand. While this may be the case it could also only have 130km’s on the odometer and most sales people will be much more willing to negotiate on demo models.

6. Check the build plate:
Usually located on the firewall of the car, this details exactly when the car was made. This is important as a car listed as a January 2015 vehicle may have actually been built at the end of 2014, meaning it is technically a 2014 model.

7. Test Drive:
Speak to the dealer, ask if you can take the car for a longer drive which will potentially enable you to drive the vehicle on a variety of road surfaces to experience how the car truly handles.

8. Say no to optional extras:
This is a big one, far too often we have clients come in and tell us what dealers tried to charge them for these add-ons. We typically advise all our customers to never agree to extras like rustproofing, paint protection or window tinting, these are often significantly over-priced.

On this note, be careful signing up for extended warranties as these in many cases require the purchaser to agree to have the vehicle serviced at that dealership for the warranty to take effect. In saying this, having your car serviced by the manufacturer can be expensive but positively affects resale.

With these considerations in mind, let us help you get the best new car possible.

Get finance for your new car today!

Must do’s when buying a used car

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So you’ve decided to buy a used car. So what next?

At Leasecorp we help lots of our clients find and secure great used vehicles, but it pays to be prepared so as to make the purchase as safe and hassle-free as possible.

1. Budget:
First things first, know what you can afford to spend.

This means not only securing finance or having the money ready for the initial purchase but weighing up running costs like fuel, maintenance, insurance & average depreciation.

2. Research:
We hold national fleet status with many manufacturers Australia wide and can often find you a similar if not identical vehicle at much lower prices.

Our vehicle find service is free to Leasecorp Customers – FIND MY CAR TODAY

It pays to know the market value of the vehicle you have in mind before meeting with the seller; this will give you a lot more negotiating power. Sites like carsguide.com.au and redbook.com.au are useful in establishing a price point.

When selecting what vehicle you are looking for be specific with your requirements and know details like, badge or class, engine type, manual/auto, series, build date. For example, a 2014 Toyota Prado comes in 6cyl, 4.0i Petrol & 4cyl, 3.0DT Diesel, Manual/Auto, Altitude, GX, GXL, Kakadu and VX as well as GRJ150R & KDJ150R series. These finer details will have an impact on the asking price.

Look for information on the housing, maintenance and use of the vehicle. i.e a car used only to drive short distances to and from work vs. a car previously operated as a taxi that has been housed opposite the beach.

Know the average kilometres for the build date of the vehicle you are looking for.

3. Contact the seller:
If you find a vehicle that looks good, give the seller a call and ask the following questions.
– How long have they owned the car?
– What is their reason for selling it?
– Has the vehicle ever been damaged?
– What condition is the car in, and is there any issues not show in the photos?
– Will it pass a roadworthy inspection?
– How detailed is the car’s service history and is it with the car?

4. Before arranging an inspection and test drive:

Inform the seller you intend to do an encumbrance check (PPSR check – previously known as a REVS check) and other checks on the car.

Obtain the Vehicle Identification Number (VIN) and go to revs.com.au to purchase a complete car history report (the VIN can be found on the registration certificate, or on the engine, door posts (where the door latches when it is closed), or the passenger side windscreen).

5. Arrange an inspection:

If it passes all the above, arrange a suitable time to inspect/test drive the vehicle.

It is important to always organise inspections during daylight, never in the dark or in the rain that could conceal body marks, dents, rust and other defects.

– Check underneath the body, bonnet and carpet for rust and signs – such as evidence of welding or paint overspray — which may indicate the car has been repaired after a crash.
– Check the gaps between the body panels are equal – if not, this could indicate poor crash repairs.
– Under the bonnet, look for signs of any oil leaks. Use the dipstick to check the amount of oil. If the level is low, the owner hasn’t been looking after the car properly.
Look around the oil filler cap for a white mayonnaise-like substance – this could be an an indication of a leaking head gasket which can be very expensive to fix.
Check all tyres – including the spare – to make sure there’s plenty of tread and that they’re wearing evenly.
Inside the car, make sure the seatbelts work correctly and aren’t damaged, the front seats move properly and all switches and features work.
Try to start the car when the engine is cold, which can help reveal problems like poor starting or smoke that indicates engine wear. If the seller has warmed the car up, they could be trying to hide something.

Make sure the VIN, engine number and registration details on the car match those on the registration papers.


6. Test Drive:
– before you set off, turn the steering wheel from one lock to the other to check for any play, or any irregular noises that could indicate power steering problems
– test the handbrake on a steep hill to make sure it’s correctly adjusted
– listen for any irregular noises from the engine, and make sure the radio is off
– drive the car at highway speeds if possible, and try to find different road surfaces to give a better impression of how the car behaves
– check that the transmission shifts up and down through the gears smoothly and that the clutch on a manual doesn’t slip and actuates smoothly.

7. Negotiation:

If you like the vehicle and it has passed all the above, begin to leverage with the information you have gathered about the car as well as
– Make a list of any faults you discovered during the inspection, and negotiate based on the cost of fixing these problems
– If there are no faults, suggest a reasonable figure beneath the asking price. The seller will then either accept, decline or suggest a price closer to the asking figure. Work through this process until both parties agree.

8. Purchasing the car:

Ensure you have all the registration and service history of the car and the details match the seller, make sure they are originals, not photocopies.
Get a receipt for any payment you make with sellers full details.

PPSR Certificate:
On the day you take ownership of the vehicle, purchase a PPSR (formerly REVS) Certificate to protect you against repossessions.

Get finance for your new car today!