Searching for the right car to purchase for you and your family may not be a simple task, but choosing is the only hard part. It’s easier to buy a car in NZ than you might think. If you’ve been wondering, ‘do I need a driver’s license to own a car’, we answer that question and much more below!
Getting Finance
Before you can even think about buying a car, you will need to save up enough money to do so. Cars are expensive, however, which is why so many Kiwis choose to get their cars on finance.
That way, they can pay it off over time without having to save all of the money to pay upfront. It’s much easier to pay off $10,000 over 2 years than save it and be without a car for that long.
Shop around for the best finance deal. You should look for the option that charges the lowest interest, or you’ll end up paying far more for the vehicle over the life of the loan.
There are a few things you’ll need to get finance:
Proof of Identity
You’ll need proof of identity to get a car loan. This is partly so that they can confirm you are who you say you are, but even more importantly, so that they can check that you have a good credit score. Forms of identity that are usually accepted include a passport and driver’s licence.
Proof of Income
The finance company will need to know that you are capable of paying off the loan. That’s why they may ask for bank statements or a letter from your employer stating your salary. That way, they can figure out if you’re spending beyond your means and can afford the repayments or not.
Credit and Banking History
Your credit score will be a major factor in whether you get approved for finance or not. If you have a history of making repayments on time and paying off debt, you likely have a good credit score. Late payments, too many loan applications, and other factors can reduce your score. If this happens, you’ll find it harder to get approved for a loan.
Vehicle Information
You need to decide which car you want before you can apply for a loan. The application form will ask for details about the car, such as the make and model, year, and registration number.
Proof of Insurance
Finally, to be approved for finance, you will need to get insurance for the car. Most lenders will not offer you a loan if you don’t have comprehensive car insurance.
Do I Need a Driver’s License to Own A Car
If you’ve been wondering, ‘do I need a driver’s license to own a car?’, the answer is: not necessarily. When you buy a car, you will usually be asked for your NZ driver’s licence. However, it’s not necessary to have one, so the seller will likely accept other forms of ID, such as your passport.
What You’ll Need to Use the Vehicle
Here are some other factors that may not be required to purchase a vehicle but are required if you want to drive it.
WOF
You can purchase a car without a WOF. However, you won’t be able to drive it until you get one. A warrant of fitness tests whether the car is safe to drive, so it makes sense that you couldn’t use your car until a mechanic has confirmed its safety. They will test things like the lights, brakes, and the gearbox to make sure that your car isn’t about to break down while you’re on the road.
Rego
Not all cars for sale are registered. However, you cannot drive an unregistered car on the road. So, if you buy a car without a registration, you will need to register the car before you can go anywhere in it. This system is designed to prevent cars unfit for driving from being on the road.
Where to Buy a Car in NZ?
Now that we have answered all of the important questions, such as ‘do I need a driver’s license to own a car?’, you’ll want to know where the best place to purchase one is. Shopless is New Zealand’s premier site for car listings.
Browse thousands of vehicles, looking for your desired features such as auto vs manual, km travelled, and age of the car. Shopless makes it easy to find out all of these details and more before you make a purchasing decision.
If you have followed all of the above advice and are now ready to buy a car, it’s time to go check out the Shopless car listings!
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