What to watch out for if you're buying a car at the EOFY

28 Jul 15

With the end of another financial year passing by, many savvy car buyers will be looking to take advantage of some of the great deals on new cars.

As a result we expect to see a flood of used cars on the market over the coming months. It's a great opportunity to pick up a great used car deal, however, while the price may be right, when you're buying a used car there are several things you should be aware of so you don't end up being short-changed.

In fact, if you're not careful, you might even be part of the one in ten who will fall prey to a used car scam this year1.

With many people trading in or buying vehicles for an end of financial year deal, it's more important than ever to be vigilant when buying a used car. 

Our latest CarHistory research from May 2014 has revealed some eye-opening information for would-be buyers.

It turns out that faulty or damaged cars could be costing Australians over $530 million each year. For the average consumer this is around $4,000 for a dodgy vehicle.1

Vehicles that have been written off, or that have previous insurance claims are some of the most common issues, as well as odometer rollback, where the odometer reading is tapered with to make a car appear less used.

In addition, not all states appear to be equal when it comes to providing trustworthy used vehicles, with Queensland, Victoria and South Australia trailing everywhere else.

You can save yourself a lot of hassle by checking out the CarHistory report of any car you are interested in buying. A CarHistory report can contain vital information such as past insurance claims, odometer rollback and even if there is any previous debt tied to a car which could lead to it being repossessed.

So if you're looking to buy a used car following the end of financial year, make sure you're buying smart with a CarHistory report.

1Based on vehicles checked on CarHistory.com.au over a 12 month period until May 2014