Expats Remember These Tips Before Buying A Car In Australia
Each year, over 200,000 Australian immigrant visas are issued. As the expat network in Australia grows, the country has been in the limelight as one of the top 10 countries for expats to live. As an ex-pat, starting a new life abroad can come with many challenges and life admin tasks including renting a home and securing a car for your transport needs. While you can rent a car in Australia for the initial days, it can quickly get expensive and cumbersome. For those looking to buy their first car after their move to Australia to solve their transport needs or for use in planned road trip adventures around Australia, here are a few tips to make the process simple and straightforward.
Weigh Your Options For Dealer Versus Private Sellers
While private sellers tend to be cheaper, you may find some sense of security by buying your car from a dealer. Private sellers sell their cars in an ‘as is’ condition which means you may be stuck paying for auto repairs or any hidden issues that may pop up. As a new expat in Australia, this can be the last thing you need to be added to your agenda. Dealers also handle most of the purchase paperwork including providing the car registration paperwork, making the process much simpler for a buyer like yourself. If you do opt for a second-hand car, most dealers offer a thorough car history check.
Budget For Supplementary Charges Like Registration Transfer And Stamp Duty Fees
As an expat in Australia, you can expect a higher cost when buying a car. Some cars can even cost up to three times more, thanks to import and goods and services taxes. Also, depending on the model of vehicle you choose you can also expect to pay a luxury car tax of 33 percent for cars that exceed the Luxury Car Tax threshold of $77,565 for fuel-efficient vehicles and $68,740 for other vehicles. However, this only applies if you plan to import or purchase an imported vehicle.
In addition to the above-mentioned charges, car buyers in Australia also have to budget for the registration transfer fee, stamp duties, and any aesthetic costs like cleansing a soiled vehicle interior if you have purchased a used car. If you are on a tight budget, you can also try DIY upholstery cleaning tips to cut costs. In Australia, the registration must be transferred within 14 days of purchase except for Western Australia (within 7 days). Most dealers will provide you with the registration paperwork upon completing the sale. If you opted to buy privately, you can access it on the Department of Transport website. Stamp duty is also calculated using the car’s value, charging $3 per $100 of vehicle value. You can also check your vehicle’s stamp duty online using the New South Wales online estimator.
Expect To Pay For Third Party Insurance
Third-party insurance is required across all states in Australia for car owners. However, it is also recommended that you secure your own health and medical insurance as the car driver along with Third Party Property Insurance. By doing so, you can rest assured that you are covered should your car cause any damage to another person’s property. If you are looking for the best value in car insurance, financial comparison platforms can help you get the best deal and highlight what to consider when purchasing car insurance like After Accident Care.
Having your own car upon moving to Australia can be a great way to explore your new home and smoothen the tricky transition concerns like commuting for work or school. By getting to know the basics of buying a car in Australia, you are much more likely to get a better deal and avoid the hassles of the car buying process.
Main Image Source : Pixabay