Advice needed for buying used car

[paddyj]

Hi,

Just got approval from the bank for a car loan

Looking to buy a VY Series II. I'm hoping someone can help me out on the process of buying a second hand car. The bank has told me they will give me the funds in a bank cheque when I produce evidence from the dealer/yard stating the car details and how much I'm buying it for.

Is this the normal procedure? Will I have trouble getting this info in writing from a dealer/yard when I find the car I want?

Thanks
Paddy

[vy_storm]

That will normally take form of the sale contract which is signed by you and the dealer for the bank to release funds. Standard procedure pretty much.

[paddyj]

Ah ok.

So I would need to sit down and agree with the dealer on the price and sign the dotted line before getting the cheque.

Are advertised prices usually dependent on taking the dealers finance? If I say I want to pay by cheque will they jack up the price?

[vy_storm]

The dealers price shouldn't matter if you are paying with your own finance. Best bet would be to not tell them how you are paying until you sign on the dotted line. As with all contracts, pretty standard that you sign before paying. If you need to go and arrange the money they may ask for a nominal deposit to cover them in case you back out.

[paddyj]

Great thanks for the advice!

Time to go car hunting

[vy_storm]

No worries, good luck with the hunting. Remember though, if its too cheap, chances are its too good to be true!

[paddyj]

ha ha very true

[Weissen]

Ah ok.

So I would need to sit down and agree with the dealer on the price and sign the dotted line before getting the cheque.

Are advertised prices usually dependent on taking the dealers finance? If I say I want to pay by cheque will they jack up the price?

Yes to the first question.

No to the second. The advertised price is just that, an advertised price, it's always negotiable.
Never pay the sticker price, also known as the sucker price.

There's heaps on the web about buying secondhand cars, some of it is really good advice.
Just Google it up.

[paddyj]

Cheers will do