Buying a new car has never been easier with MYCU!
Choosing the car for you
Once you figure out the type of vehicle you need, you can start researching the makes and models that suit your needs. It’s important that you do research to make sure you get the best deal possible.
Don’t have the time? MYCU have a free car broker that you can use to help find the car for you: National Car Search. National Car Search have independent specialists in the industry who provide impartial advice on the best vehicle to meet your needs and any accessories you may be considering.
To help determine the valuation of the car you are interested in you can visit redbook.com.au. This valuation website is often used by motor dealers when setting prices and determining your trade-in value.
Finally, it’s a good idea to consider the safety ratings of your potential new vehicle. The Australasian New Car Assessment Program provides safety assessment information for all new car models.
Whether you want to buy a cheap second-hand car or a brand-new state-of-the-art convertible, working out what you can afford is a necessary step.
You’ll need to consider:
- The purchase price of your new or used car
- Insurance cover
- Vehicle registration
- Ongoing petrol costs
- Regular servicing costs
- Cost of replacement parts
Some cars can be significantly more expensive than others when it comes to insurance and future servicing so you will need to consider this when choosing a car. If you’re buying a motorcycle, don’t forget to include the cost of buying a helmet and other protective riding gear.
If you’re considering taking out a car loan, consider how much you need to borrow and how you’ll manage your loan repayments. With a MYCU car loan you can pay weekly, fortnightly or monthly.
Use our Car Loan Calculator
Go for a test drive
If you’re planning to buy a car privately you should definitely request a test drive and also arrange for a mechanic to give the car a check-up before you buy.
With second-hand cars, it is important to ensure that you:
- Check the car's history report for any issues
- Review the car’s logbook to see that all services have been recorded
- Ensure the Vehicle Identification Number (VIN) and registration match the vehicle make and model
- Check the Personal Property Securities Register (PPSR) to see if there’s any money owing on the car you want to buy
If you’ve found the car that suits your needs and is in your price range most dealers will accept a deposit – just be sure to add “Pending Loan Approval”.
Check out car loan rates and apply
At MYCU we have different Car and Personal Loans to suit you. To see the full range of Car and Personal Loans available to you just click here.
Use our Car Loan Calculator to calculate your monthly repayments.
Applying for a car loan with MYCU is simple! Simply apply online or drop into a branch and we will give you an answer within 24 hours. Alternatively you can call 1300 655 116 and apply over the phone.
At MYCU we also have specialised Mobile Lenders who can come out to you and have a chat about what you need, just call our Member Services Team on 1300 655 116 to arrange a time and place best for you.
You’ve found the perfect vehicle to suit your needs, the car history report is all good and you’ve been approved for a loan. Now you can buy your new wheels. Remember as soon as you sign the contract to purchase the car, the car is now yours and you are responsible!
It is important that you have motor vehicle insurance from the moment you sign on the dotted line as you don’t want to be paying off a loan for a damaged vehicle. At MYCU we can get you a competitive quote and have you insured immediately.
Congratulations and enjoy your new wheels!
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