Buying a gently used car rather than a brand new one is a smart financial move you could make. It doesn’t necessarily have to be a daunting task. In fact, if you use some of the tips mentioned in this article and run through the checklist, you could get yourself a great deal.,
Here’s a list of things to consider before shopping for a solid car.,
Prioritize What it Will Be Used For
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When compiling your list of favorite models, you need to sit down and think about how you’re going to use the car. Forget about its design or styling for a second and focus on the more important factors.,
Your first step should be narrowing your options down to a shortlist of potential car models and must-have features. Maybe you’re looking to upgrade a few years, or perhaps you need a different type of vehicle due to changes in circumstance, such as a shorter or longer commute or the need for extra space with a growing family.,
If safety is your top priority, check out the Insurance Institute for Highway Safety (IIHS) for crash tests.,
Check Reliability and Ownership Costs
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Used cars are all different — some have been driven more miles while others have more wear and tear. However, in general, you want to ensure that you’re selecting models based on their dependability.,
“Always choose a car that holds its value and has insurance costs and low maintenance,” — J.D. Power.,
Some used vehicles are cheap to buy but may cost you a lot in the long run due to insurance, repairs, maintenance, and depreciation. Many automotive sites like Kelley Blue Book’s 5-Year Cost to Own, or Consumer Reports’ Cost of Car Ownership show estimates of these expenses.,
Locate Your Car
There are plenty of websites that list the best used cars, and each of them seems to have its own character. Here are some good ones to check out:,
- AutoTrader: Here, sellers pay to list their vehicles. Paid websites are better at keeping out scammers. They provide a list of high to mid-end cars. AutoTrader lets you easily filter by model, year, make, range, price, and features.
- Craigslist: Here, used cars are listed for free. It’s best for low-end vehicles in your area. However, be careful about scammers.
- CarMax: This is a good place to look as it has a huge inventory and no-haggle pricing, meaning prices are posted clearly on the vehicles and negotiating isn’t allowed. CarMax offers an added warranty and provides financing.
- AutoList: This website is an aggregator — it pulls together vehicle information from many different sectors into one searchable site.
Most used car lots post the cars they have in the inventory online. If you want to see and touch the vehicle you’re considering; there are many used car lots across the city where you can do that.,
Price the Car
Once you locate the cars for sale in your area, look up a price. You can consider including the following information:,
- Year, make and model: The vehicle model is sometimes called “trim level.” For instance, when looking up a 2015 Nissan Sentra, XE is one of the many trim levels.
- Mileage: Usually, the annual mileage on a vehicle is about 12,000 miles. If a car’s been driven more or less than that, the price is adjusted accordingly.
- Options: These are the features installed when the vehicle was built (e.g., a navigation system).
- Condition level: Read the condition levels’ descriptions carefully. For instance, the difference between “clean” and “outstanding” could easily be $2000.
If you’re buying from a dealer, check out the “Dealer Retail” price. And if the seller is your neighbor, look at the “Private Party” price.,
Also, you might notice that pricing guides tell you what the vehicle is worth as a trade-in. So, make sure to price your current car if you want to trade it in at the dealership.,
Look Up the Car History
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Before driving across the town to see the car of your choice, run a history report using the vehicle identification number (VIN). It will give you a detailed report of the car’s history from AutoCheck. It’s an easy way to figure out whether or not you should buy it.,
Here are some important things you’ll learn:,
- If a car has been in a serious accident, flood or fire, and was “totaled” by the insurance company, it still might be driveable. But, the company will issue a “salvage title” in order to alert future buyers. It’s better to avoid cars with a salvage title as it kills the resale value, and the vehicle could still have hidden issues.
- Accidents are usually reported to the insurance company and will probably be listed on the history report as well.
- Shady car lots can spin the odometer back to boost its selling price. The history report will warn you concerning this scam.
- While it’s nice to assume that the car was driven gently, ordering the report will let you know for sure how many times it changed hands.
- Some reports will provide you with information, such as where the maintenance was performed and whether or not it was done on time.
Test Drive
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Unless you’re a mechanic, you can’t be sure to inspect a vehicle thoroughly. But, what you can do is give the car a good initial inspection. If everything looks good, then you can pop for a full inspection, costing you around a hundred bucks.,
Select a route for test driving with a bit of everything: rough pavement, hills, curves, etc. Next, pay attention to the following points:,
- Brakes: Check if the brakes are responsive and predictable.
- Visibility: Make sure there aren’t any blind spots.
- Acceleration and cornering: See if it has enough power and how the steering feels.
- Ergonomics: Try reaching all the gauges and controls to measure the ease of use.
- Mechanical condition: Listen for any unusual vibrations or noises that could indicate worn suspension tires or parts.
After the test drive, check the cargo capacity and back-seat leg room. Furthermore, blast the sound system and see if your phone connects via Bluetooth.,
Negotiate the Best Price
Here comes the part that everyone dreads: negotiation.,
However, it doesn’t have to be stressful, especially if you’ve done your research on the car. Compare the asking price to the regular market price as the seller could be asking more than the market average.,
When it comes to bargaining with a car salesperson at a car lot or dealership, note that you’re dealing with someone who knows what they’re doing.,
Here are a few things to consider while bargaining:,
- Don’t be a monthly payment buyer; this will cost you more than what you might think.
- Start low, but in the ballpark; this will help you increase your offer slowly
- Don’t be trapped in the sales office; uncontrollable customers keep salesmen off balance, which will help you in negotiations.
- Repeat the numbers you hear while negotiating so that you don’t get confused.
- Ask about fees before agreeing to a deal; some dealers add unnecessary fees in order to take back the profit they lost in negotiating.
- Always be ready to walk.
Wrapping Up
Each year, nearly 40 million used cars exchange hands between private-party and dealership sales. With so many available options, finding that one perfect car for you can be a challenge. We believe the above-mentioned checklist will help make finding and buying your favorite used car a breeze.,