Should I Buy a Domestic or Imported Car?

Should I buy a domestic or imported car?

Choosing between buying domestic vs imported cars is not purely a cost comparison. There are several other important factors that can be useful in making your decision.

Imported cars are more expensive because they are generally more advanced, offering innovative features and cutting-edge technology. This can often mean more expensive replacement parts and longer wait times for repairs.

On the other hand, cars produced in Australia are cheaper and easier to repair. Domestically designed and produced cars also adhere to Australia's strict safety standards. However, they may have a shorter lifespan than overseas cars.

If you're in the market for a new car, speak to Positive Lending Solutions today. We can find the right loan for the car you want - whether it is domestic or imported.

Buying a domestic car

If your needs and budget are flexible, or you simply want a vehicle to get you from point A to point B, it may be worth considering a domestic car.

Australia boasts several popular domestically manufactured car brands, including:

• Holden
• Ford
• Toyota

Buying a domestic car delivers several benefits to consumers.

• Domestic cars are manufactured in Australia. This stimulates our own economy and supports manufacturing industries and local businesses in our own backyard.
• Each car adheres to high standards of safety and regulations. Australia's exacting manufacturing standards ensure that every car is safe and roadworthy.
• Domestic cars are easily repaired. If something breaks down, buyers won't have to wait weeks for new parts to be shipped from another continent.

However, domestic cars are also generally of lesser quality and often lacking in the perceived prestige of their imported cousins. Domestic cars are cheaper to insure, fix and replace, but often do not have long lifespans like foreign imports.

Buying an imported car

As early as one decade ago, a quarter of all cars on Australian roads were made locally. Now, a large percentage of cars in Australia are imported with the majority being from Japan and Korea, but with many also imported from European countries and the United States.

Some of the most popular imported car brands include:

• Tesla
• Mercedes Benz
• Volkswagen

After going through the import process, there are certainly advantages of imported cars.

• Owners enjoy the prestige of a vehicle that has been made abroad. Imported cars are less common than others seen on Australian roads.
• Imported cars are sometimes cheaper to buy. Lower production costs from offshore manufacturers often pass the savings back down to the consumer.
• Modifications come with the territory. Prestigious motor companies allow unlimited enhancements and modifications to imported vehicles at the request of buyers.

However, if an imported car breaks down, replacing parts and panels can become costly and time-consuming. Vehicles made overseas may also carry defects and lower build standards compared to those made in Australia.

Domestic vs imported cars: getting a car loan

There is no great difference between domestic and imported cars. It largely comes down to the personal preference of the buyer.

When considering car loans, domestic cars can be cheaper and are generally seen as lower risk by a potential lender. Loans for domestic cars may mean that your upfront costs are slightly lower.

If you have your heart set on an imported car, you may have to budget a little more in monthly repayments. Your car loan will usually still be approved if you are in a sound financial position.

Contact Positive Lending Solutions

At Positive Lending Solutions, we can help you find loans for both domestic and imported cars. Whatever vehicle you choose, we’ll always work with you to find the best car loan options from our range of trusted lenders.

See also:

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