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Replacing your car

Here are are some things to consider when you have to replace your car:

  • If you’re planning to buy your next car from a dealer, you have two options: sell your existing car privately or trade it in. Which option is best? It depends how much time and effort you want to put in.
  • Although trading in is generally much less hassle, you probably won’t make as much money as you would from a private sale. That’s because if the dealer thinks they can sell your car for $10,000, they may only offer you a $7,000 trade-in deal, so they can make a profit. Experts advise you should always settle on the price of the new car before negotiating the trade-in price.
  • On the other hand, selling a car privately can be time-consuming and stressful, and you have to pay the advertising costs.
  • Find out more about the benefits and costs of selling privately vs trading in on our blog.

In some states, the buyer takes on responsibility for any debts still owing on a car. To avoid a nasty surprise, be sure to run a check at the Personal Property Securities Register to see if the car you want to buy has any unpaid debts against it or if it has been stolen.

Whether you’re buying, selling or negotiating a trade-in, knowing how much your old car is worth and how much you should be paying for the new one is essential. These websites can help:

Once you've done this, find out how to choose between buying a new or used car.

All you need to know about buying a car

 Tips for saving for a car

 Need extra funds? Find a personal loan that suits your needs

 Buying a second hand car? First, complete an ownership check 

 Cover your car for those unexpected moments on the road with car insurance

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