Are you interested in buying a used car? Which one should you buy? Check out this guide to learn about the top tips for buying a used car.
If you don’t have the right tips for buying a car, you may find it hard to look for a car because each car is unique. Every car has a different history that can turn out to be a blessing or a curse to you. Tips for buying a used car include doing your due diligence as a prospective buyer.
The following tips will guide you into finding the best pre-owned car.
Set a Budget
There are two possible ways to purchase a car: take a loan or use cash. If you’ve to pay with cash, it’s easy to budget, but don’t deplete all savings. You should keep some funds for registration, insurance, and future repairs.
Many people prefer using a car loan to help protect their savings and purchase a more expensive car model. If you go that way, remember to go for a preapproval.
You can set aside 10% as down payment and pay for the rest in three years. Ensure your monthly car expenses don’t exceed 20% of your monthly pay.
List Several Cars within Your Budget
Everyone knows that Toyota Camry and Honda Accord are ideal used cars. But, they may cost higher than a comparable Kia Optima or Ford Fusion, although these are equally good cars.
Accordingly, if you would like to save money, list more than one brand. You can list about three cars that suit your needs and pocket.
Investigate the History of the Car
Don’t ever buy a car before you run a history report. Most people buy used cars only to find out later on that the car is a wreck. Remember, body shops can make any car look good.
If the ad doesn’t contain a VIN and the seller isn’t willing to share it with you, then find a different car. Since you are purchasing a used car the way it is, you should know about possible problems before you buy it.
Contact the Seller
After finding a car you like, don’t rush to see it. Contact the seller first to help build a rapport and verify the car’s information. If it’s private-party sellers, ask them why they want to sell the vehicle and whether it has mechanical issues.
If you are to buy from a dealership, you can call them to confirm if the car is still available. Don’t start any negotiation until you see the car to know more about its condition.
Test-driving is the only way to know if the used car will suit you. It will also help you to evaluate the condition of the car. While test-driving, focus on the following:
- The ease of moving in and out of the used car
- The size of the legroom, headroom, and hip-room
- The driving position – is it comfortable?
- Are the seats comfortable?
Negotiate and Close the Deal
After inspecting the car, you should use the information you have to negotiate the cost down. You can follow these tips while negotiating. After the negotiation, you should complete the transaction.
Don’t pay for the car in cash because if anything goes wrong, it may be hard to get the cash back. Use a check or credit card instead. After paying for the car, ensure you have the necessary paperwork, such as an extended warranty.
Tips for Buying a Used Car
By using the above tips for buying a used car, you shouldn’t run into problems with the car afterward.
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