Find useful tips about cars sale – Think you’ve got a great deal on your used vehicle purchase? Remember, the final price you pay the seller won’t be your total out of pocket expense. Learn more about some of the other costs that are associated with purchasing a used car.
Registration Transfer
A nominal fee ($24 in NSW) is required to transfer the registration of the car from one holder to another. In Victoria, this cost will be around $30 to transfer the registration via a private sale, but will be cheaper (around $15) if the car is purchased from a dealer. In Queensland and South Australia, transfers incur a cost of $25 and $21 respectively. However, keep in mind that some private sellers choose to sell their cars as the vehicle registration is about to or has already expired to save on the costs of renewal. Regos are transferable for up to three months after expiration. Also keep in mind that if you will be registering the vehicle in a different state, other charges will apply.
Stamp Duty
This is probably the most substantial additional cost that most car buyers will encounter. Stamp duty is due to the Government at the time of purchase and the cost of stamp duty will vary depending on the state and the cost of the car. Cars sold for $10k or more will incur stamp duty costs while cars valued at less than $10k will not be charged stamp duty, but other costs will be applicable.
Luxury Car Tax
Used vehicles that exceed the “luxury car threshold” currently set at $57,123 (with a few exceptions, such as for more fuel efficient models) will incur a luxury car tax if the car is purchased through a dealer. The tax of 33% of GST is calculated on the value of the car that exceeds the threshold. Be aware that private sales do not incur a Luxury Car Tax, so you should be wary of an individual who tries to claim this cost.
Compulsory Third Party Insurance (CTP)
Don’t forget that if you own a vehicle you are required to have third party vehicle insurance even if you don’t plan on being on the road. You will need to arrange for this before you can register the car. This is an additional expense to factor into your car purchase considerations.
When you think of the car auto auction you are probably thinking of a local auction that is open to the public, collectors auctions, or even online auctions for vehicles. These are all great places to get a new vehicle for a great price, but there is another type of car auto auction that is harder to find, but well worth it if you can find it. It is known as the seized auto auction. Find helpful secrets about repo cars for sale and bank repo cars.
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