Second-hand cars are a great alternative for those who want to save money instead of buying a new vehicle, or simply for owners who urgently need a replacement.
In New Zealand, it may cost you at least $2,000 to buy a used car. The price may be more or less expensive depending on where you live in the country. You should also include car insurance to the overall price tag.
A used car may be cheap, but it requires buyers to spend more time and effort in making sure the vehicle isn’t stolen or has no financial obligations. The government suggested buyers to look into police records for any indication of pilfered cars. There’s also a register that you can use for $3 each time you want to know if a vehicle has any attached debt to it.
Contact the NZ Transport Agency (NZTA) if you plan to keep the registration plate of a used car, assuming that the seller is the rightful owner of the plate. If the seller is keeping the registration plate, you can request a replacement before you buy the car. This can be done through an NZTA agent. Once you’re done, it’s time to consider how much you want to pay for insurance.
Car owners in Auckland pay the some of the most expensive insurance premiums in the country, ranging between $377 and $840, according to a Moneyhub research. The study based its findings from a male owner of 2011 Toyota Corolla with a $12,000 insured value on the vehicle.
While living in a city means higher insurance premiums, car owners in rural places aren’t exempted from expensive rates. This is particularly true for those who live in areas with rough terrain.
A used car lets you save money, although consider buying from a licensed dealer instead of a private seller.