Buying a used car is more difficult than purchasing a new one. There are worries about what may be damaged or have been fixed. Another issue with buying a used car is the warranty. More than half of the used cars today are sold “as it is.” Purchasing an “as it is” car is risky- once you hand over that money and sign the papers, that car is yours no matter whatever happens. If you are planning to buy a used car, then make sure you follow these used car buying tips and tricks as this will make the whole process easier.
Not every aspect of buying a used car is bad. Used cars can be the best option sometimes. If you are surviving on limited means, a used car is a great idea if purchased outright. If you are not going to finance the used car, you must get liability insurance which is cheaper than the full coverage which is needed while financing any car. Another advantage is that a used car will not have any additional charges attached to the price as a new car does. While buying a new car, the dealership adds charges like cleaning and shipping with the price. A used car, even when purchased from a lot, will not have most of these charges. If you are in the market to buy a used car and need some extra money, then you can try E-loan for getting a car loan. By following the simple used car buying tips and tricks, you can reduce the risk of buying a car and save your money too.
Of course, buying a used car comes with a certain degree of risk. After all, by buying a new car, you will have peace of mind that nobody has driven the car carelessly or failed to maintain it. If something goes wrong, the car is under the warranty period- at least for a certain time. These things are usually not included while buying a used car. But buying a used car must not be always filled with terror and anxiety as you think. Knowing where and how to buy a used car and which cars to buy can alleviate most of the worries. If you spend some time doing research, you will soon be driving the car of your dreams.
Selecting a used car
How much could you spend?
Before you start your search for a good deal on a used car, spend some time considering the same factors that would apply while buying a new car; how you will use the car; how long are you planning to use it, and what is your budget- including operation, insurance, repair costs, and maintenance.
Which car should you buy?
Decide which car suits your lifestyle and your personality the best. As you will possibly own and use the same car for several years, you must anticipate future requirements and lifestyle changes. Today, you could easily consider purchasing a mid-sized car as these cars are available at a great deal. Narrowing down your dream list is difficult for used cars compared to new cars as there are so many used vehicles. Talk to your friends or acquaintances who drive vehicles that appeal to you. Word of mouth is one of the trusted methods to collect information about the quirks and reliability of specific models.
Used Car Buying Tips and Tricks
Do your research
The most important thing to know before you purchase a car is that knowledge is power. It is a mistake to arrive at a car lot without researching the car that you want to purchase. You can find out anything you want to know about your favorite car online. Also, if you are planning to buy a new car, your goal is to find the “invoice” price of the car. The “invoice” price is the amount that the dealer has paid to the car’s manufacturer. This research will come in handy once the price negotiation starts.
On the contrary, if you are thinking about purchasing a used car, research the current resale prices for that specific car. This data will provide you major bargaining options. If you want to trade in your present car, research market values for your car also. Knowing the value of your trade-in can also be a great bargaining tool.
Check the used car in daylight
One of the significant tips for buying a used car is to check it in daylight. At times, the used car showrooms have several fancy colored lights, which make the old cars look attractive. It is a good way to hide the scratches if any. So, you must examine the cars when they are parked in the sunlight. This way, you can see even the minor scratches also.
Go for a test-drive
Going for a test-drive is one of the important used car buying tips and tricks. Test drive the car on various roads. Make sure the engine starts right away, and you do not hear any type of unusual noises and vibrations. Look out for shaky steering, it could mean a front-end problem. Test the brakes for checking the signs of pulling. A car with low mileage should not have a brake pedal that looks damaged. If the vehicle has a manual transmission, push the gearshift through different gears to find out how it performs. If the car has steering without any power assistance, parallel parking and city driving can be difficult for you, so try and test drive the car under different conditions.
Check the exterior
Check for signs of an accident, like new paint or dents. Make sure the hood can be closed properly. Check the body for fill or rust. You must check under the car also. Checks for cracks in the frame, welding, or rusting. You must check the condition of the tailpipe, exhaust components, and muffler. Check for signs of fluids leaking from the car, including transmission fluid or oil. Push the corners of the car to check the shock absorbers. If the car bounces up and down many times, the shocks are damaged. Check by opening the trunk. Find a jack and check the condition of the spare tire too. Check the tires closely for any signs of uneven damage.
Examine the interior of the car
As you checked the car’s exterior, it is important to check the interior too. Lift the hood and check the condition of the hoses and belts. Check the battery to find if there are any cracks. Pull the dipstick to check the oil-level and find whether it is dirty. Check the parts and accessories, like horn, seatbelts, lights, radio, windows, and heater. Make sure all of them are in working condition. Check the outside lights too. Make sure you can open and close the doors easily, and the handles and locks are working properly. Check the dimmer switch, windshield washer, and headlights. You must not forget to check the odometer. It is against the law to make changes in the odometer reading, and if you feel that someone has tampered with it, then it is better to avoid that car.
Negotiate terms
Next to buying a house, buying a new car is one of the most significant investments you will make in life. You may be paying off this car for the next four or six years. Allow the salespeople to know upfront that you are not going to be taken for a ride. Do everything that you can do to negotiate the car loan and knock the price down. Start with a ridiculous number and work backward. If the salesperson gives an offer that includes a monthly payment of a specific amount based on a 60-month loan, then tell them you want the same amount with a 48-month loan.
Do you know any other used car buying tips and tricks? If so, please do us know in the comment.