Not everyone can afford a brand new car.
Resorting to purchasing a used car is a good idea for a couple of reasons. Some people may prefer a used car for its features, others may buy a car as a gift for a new graduate in the family, while most individuals think that they can save more this way.
Buying a used car does not mean you can actually save up unless you follow the following tips:
- Do your research about the model you want to buy
Research takes a lot of your precious time but it will save you hundreds to thousands of dollars (as it also saves you from headaches and regret). Information is the key when purchasing something, and buying a car is no exception.
Even before going directly to the seller or dealer, you must already have information about the model of the car. This will help you formulate smart questions.
Consider the car which can best meet your needs. There some people who purchase because of the brand due to a belief that popular brands can ensure quality. Well, brands do not ensure that you are having a good deal. What you should look into is not the brand, but rather how the owner took care of the car.
- Purchase the car directly from the owner
You can save up if you deal directly with the car’s owner because they just want to sell the car. Dealers will most likely add commission with the car cost, and this makes the pre-owned car more expensive than it should.
You can also ask questions directly to the car owner about the car’s maintenance, the reason for selling the car or existing insurance. If you are interested in buying directly from an owner, you can use apps such as Carousel Motors.
- Know the car’s road history
Check the car’s registration and its history. Was it involved in any traffic incident? Ask for the vehicle’s registration information, road tax, and market value. Was the owner able to meet the tax responsibilities? Has the car loan used to buy the car already been settled? When will the car’s registration and insurance expire?
- Consider other sellers
You don’t have to take the very first deal. Do not be pressured to pay the downpayment after inspecting the car and talking with the dealer or owner. You have the choice to take your time and consider other options.
Also, do not buy the car just because the seller is a relative. Remember that you are buying the used car for your convenience. Choose the car that best suits your needs and not just because a relative is asking you to do so.
- See the car at the seller’s own home
This will give an assurance that the address in the registration is indeed the owner’s home.
- Take a friend who knows a lot about cars
You may have an idea about the car which you are about to buy, but with so many things to consider you are bound to forget something. Bringing a friend may give you more ideas which you haven’t thought about. Also, if your friend is a car savvy, then he or she might be able to ask about some technical stuff which could be foreign to you.
You will also have a witness on what has been said and agreed. This way should there be any dispute, you friend can help out to settle things.
- Examine the car in daylight
Inspect the car in broad daylight to see if there had been any repairs. Does the car look too worn compared to the mileage in its speedometer?
- Test drive the car
Check the mileage. There are some individuals who can wound back the mileage to mask its usage. Keep an eye for signs of “use and tear.”
It is natural to test drive the pre-owned car. Take note of the simple discomforts. Is there enough room for your legs? Do the key needs jiggling before it could start the engine? These may be simple stuff, but it will cause an annoyance over time.
- Ask about the insurance
Know if the car still has an active insurance. Get to know the coverage of the insurance and when it will expire. If you are buying from a dealer, ask if you can extend the insurance.
- Make sure that the car has no outstanding finance
As said above, it is best to know if the car is free from any outstanding finance. Was the car loan settled?
Just like buying a new car, purchasing a pre-owned vehicle is acquiring additional financial responsibilities. You would need to spend on fuel, loan repayments, insurance, maintenance and road tax.
They say that buying a car is like walking in a road full of landmines. You need to be sure that you are buying a car that will give you convenience and not an annoyance. By following the list above, you will be able to save up and avoid future problems.
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