If you’re looking into a quality used car and the excitement of “this could be the one” sets in, it's easy to overlook some of the finance fine-print. At Premier Autos, based in Canberra, we want you to drive away confident, informed and happy with your decision. Here are five of the most common car-finance mistakes Australians make — and how you can avoid them.
It’s natural to zero-in on what you’ll pay each week because it feels manageable. But that single figure doesn’t paint the full picture. A low weekly repayment might mean a longer loan term or higher interest — which can mean substantially more paid overall.
At Premier Autos we encourage you to look beyond the repayment: consider the full term, interest rate and what you’ll end up paying in total. Browse our used car listings via Used Cars for Sale and talk to our team about how term versus interest trade-offs affect your total cost.
The listed vehicle price might appear attractive, but once you include stamp duty, registration, dealer fees, finance establishment costs and possibly extended warranty or inspection add-ons, your real out-of-pocket can shift considerably. Excluding these in your budget is a frequent trap.
Premier Autos aims for transparency. We’re here to help you understand the full cost before you commit — so no surprises down the track.
Reducing your weekly payment by stretching the loan term may seem smart in the short-term, but it often means you’re paying interest for much longer, and you could end up owing more than the car is worth for a longer period. Even buying a well-selected used vehicle doesn’t remove the term risk.
A significant mistake is assuming you’ll be approved without assessing your credit history or other financial commitments. If your credit profile is less than ideal, your borrowing capacity may be lower than expected — or you may end up with a higher interest rate.
At Premier Autos we work with trusted finance partners to help you clarify your borrowing power and credit status before you commit, so you can make a confident decision.
Even if the loan repayments look manageable, what about the rest of the ownership cost? Insurance, regular servicing, potential repairs — especially for higher-spec or imported models — all add to your cost of ownership.
Premier Autos selects quality used vehicles and supports you through the purchase and ongoing ownership process — helping you factor in the full cost, not just the loan.
Ready to see what’s available? Visit our stock page at Used Cars for Sale or contact the Premier Autos team for a tailored finance conversation today.
Drive smart, buy smart — and enjoy every kilometre.
— The Premier Autos Team