With used car prices dropping, now is a great time to explore the market for a quality pre-owned vehicle. However, knowing what to look for and how to navigate the process can help you secure the best deal.
Here’s how to approach buying a used car with confidence and how a novated lease can add extra savings.
Step 1: Research Your Ideal Used Car
🔍 Define Your Needs – Are you looking for a fuel-efficient hatchback, a reliable sedan, or a spacious SUV for the family? Consider factors like fuel economy, safety ratings, and resale value.
📊 Check the Market – Research pricing on trusted platforms like Carsales.com.au and RedBook.com.au to understand fair market value. Comparing listings will give you an idea of pricing trends and help you negotiate effectively.
📋 Review Ownership Costs – Beyond the purchase price, factor in servicing, insurance, and running costs to ensure long-term affordability.
Step 2: Understand the Costs of Leasing a Used Car
💰 Get a Lease Estimate – A novated lease can offer significant savings compared to traditional financing. Requesting a quote allows you to see how much you could save through tax benefits and bundled expenses.
✅ Compare Lease Options – Leasing a used car could be an affordable way to drive a reliable vehicle while benefiting from predictable payments and running cost savings.
Step 3: Consult with a Novated Leasing Specialist
📞 Personalized Advice – Every driver’s situation is different. Speaking with an expert can help clarify which vehicles suit your budget and driving needs.
📋 Access to Dealer Networks – Some used cars are available through pre-approved dealership partners, making the process smoother and potentially offering additional savings on GST.
Step 4: Choose and Inspect Your Used Car
🏪 Private vs. Dealership Purchase – Buying from a dealer can provide additional peace of mind through warranties and GST savings, while private sellers may offer lower prices.
🛠 Verify the Car’s History – Check the vehicle’s service records, past ownership, and any accident history. Tools like a PPSR report can confirm there’s no outstanding finance on the car.
🔍 Pre-Purchase Inspection – A mechanical check by a professional ensures there are no hidden surprises before you commit.
Step 5: Drive with Confidence
🚗 Enjoy a Hassle-Free Experience – Once your lease is finalized, you can enjoy the convenience of bundled expenses, covering insurance, registration, and maintenance.
🔧 Ongoing Support – With a novated lease, routine costs are built into your payments, making budgeting easier. Plus, servicing is handled by approved providers to ensure quality and reliability.
Used Car Eligibility for a Novated Lease
To qualify for a novated lease, a used car typically needs to meet these criteria:
✔ Under 200,000 km at the start of the lease.
✔ Maximum 10 years old by the end of the lease term.
✔ Some exceptions apply—speak to our team to confirm eligibility.
Is Now the Right Time to Lease a Used Car?
With market conditions creating greater affordability, now is an opportune time to explore leasing a near-new car. Whether you’re looking for a fuel-efficient commuter, an EV, or a family-friendly SUV, a novated lease can help make ownership more cost-effective.
Interested in learning more? Request a quote today to see how much you can save on a used vehicle with a novated lease.