If you choose to buy your car at auction or from a private individual you should check the Personal Property Securities Register, or PPSR. This will inform you if there is any money owing on the vehicle. Checking your car through PPSR costs $25. This prevents repossession by a financier if...
vital factor when owning a car. After owning a car, repossession can occur for certain reasons. It is to know why your vehicle can be repossessed and what you can do about it. When you first buy a car, you need to have an idea as to what type of car you’re interested in or ...
While leasing sounds simple in concept, getting a lease is a complex financial transaction that even comes with a vocabulary that’s different than car buying. Here are a few terms you’ll want to know if you’re considering a car lease: Capitalized Cost: A vehicle's capitalized cost (also...
4. Repossession If a driver stops paying on the bank loan, the financial institution will take the vehicle back through repossession. The bank itself can hold an auction or they could send them to an auction house. To find out what your bank does with repossessed cars, call and ask what ...
Use This Guide to Get Out of a Car Loan How Much Car Can You Afford? Elizabeth Rivelli Finance & Insurance Editor Elizabeth Rivelli is a freelance writer with more than three years of experience covering personal finance and insurance. She has extensive knowledge of various insurance lines, incl...
How Does the 20/4/10 Rule of Thumb for Car Buying Work? The 20/4/10 rule uses straightforward math to help car shoppers figure out their budget. According to the formula, you should make a 20% down payment on a car with a four-year car loan and then spend no more than 10% of ...
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