On the Road

On the Road - Intech Credit Union

New or second hand, your first or your thirteenth, buying and running your own car is something most of us will do at some stage of our lives. Check out these useful tips and links to help you get on the road and stay there.

Links to Intech Products and Services
  • Financial Guides

Points to consider when buying a car
  • Can I afford to buy, run and maintain it?
  • Is comprehensive insurance affordable for this model?
  • Will it hold its value?
  • Is it going to be reliable?
  • Is it safe and environmentally responsible?
  • Will it seat enough people and carry a big enough load?
  • Does it have sufficient power?
  • Will it do all the jobs I require?
  • Am I letting my heart rule my head?

How much will it cost?
The purchase price advertised does not represent the entire cost of your new or pre-owned motor vehicle. There are other costs and these may include:
  • Government charges such as stamp duty & registration fees for new cars or transfer registration fees for second hand cars
  • Dealer's “preparation charges” are sometimes added. Always make sure you read the fine print and add all dealer costs to your budget.
  • Compulsory third party (CTP) personal insurance must be included in final cost
  • Insurance for third property fire or theft or comprehensive insurance is strongly advised to cover you and others in case of an accident. Click here to check out our insurance.
  • Fringe benefits tax may also be payable for business purchases. Check with your accountant or financial adviser.

Pre Approved Finance
Arrange your finance first with an Intech Car Loan so you have the bargaining power when you are looking around. Click here to find out more about our Car Loans.

What about Insurance?
It is most important to arrange insurance BEFORE you pick up your car. Let's look at the most common types of car insurance:

1. Comprehensive
Usually covers the damage caused to your vehicle during an accident and any damage your vehicle may cause to other cars and/or property. Many policies offer additional benefits such as a rental car while yours is off the road. Driving a car which is not comprehensively insured is putting yourself at great financial risk.

2. Third Party Property
Covers the damage you cause to other vehicles or property in an accident. Damage to your own vehicle, however, is not covered. Premiums are much cheaper but you rick losing the entire value of your car.

3. Third Party, Fire and Theft
Covers your car if it is stolen or damaged by fire, but NOT if it is involved in an accident. A more expensive variety of third party property insurance.

4. Third Party Personal
Also known as Compulsory Third Party, CTP is obligatory in all states, though there are different methods of paying for it. Third party personal insurance covers the injuries sustained by victims of an accident. CTP typically does not cover property damage and, technically speaking, doesn't cover a driver who is 'at-fault'. However, many providers now offer CTP policies which include 'at-fault' drivers. These are well worth considering.

Click here to find out about our Insurance for you and your vehicle.