Tips For Buying A Used Car
The thought of buying a brand new car can be exciting, but are you sure it's worth the investment? Sure, it's shiny and the salesman makes a good pitch; however, many first-time buyers don't realize how much money goes right down the drain when they purchase a new car. The truth is, a used car is going to lose a significant percentage of its value the minute you drive it off the lot. When you consider that you could get a nearly-new car at a fraction of the price, it's easy to see that used is the way to go.
You Need to Buy Smart
There are those who purchase used cars only because it is more economical for their budgets. New cars come with finance payments that include a great deal of interest. A preciously-owned car that is not very old can be bought for about half the price of the newest year's model. Besides, a new car during the first year will drop in value a whopping twenty percent, so think before buying.
The fear most have about purchasing a used car is the fact of hidden problems. Today though, dealerships calm this fear by only having Certified Used Vehicles for sale. You can trust the used car is in excellent condition, when you purchase it from a reputable dealership, because the car has gone through mechanical and physical inspections. A used car that is certified and is not that old will operate almost like a new car.
How to Make a Wise Purchase
Now that dealerships have answered the consumers' demand for higher standards, it is not as risky buying used straight from dealerships. With any big purchase, you need to do research and any car is a large, important purchase. The car may look great and the salesperson makes it appear to be a great deal, but you still need to have your own information before spending your hard-earned cash on one. Follow the below tips to know how:
1. Know what you want
Be prepared before you go shopping this type of large purchase. You then should know at least the style and the condition you desire, if not the make, year and model of the vehicle you are looking to purchase, as this will help trim off some time in your search.
If you know one particular car you would like, keep your mind open to other similar cars just in case. You will find that a lot of popular brands are sold today, and some of the popular brands cost a great deal of money. If you keep your mind open about types of cars, you will more easily discover one priced much lower. You may like the Toyota Matrix, but the Pontiac Vibe is a better price for you, for example. If you have done your research, you will know the Vibe was made through a partnership with Toyota and both cars share many of the same parts.
2. Research into the Cars
Never buy according to just the looks of the cars. Many cars can seem in great shape on the dealership lot, but a bit of background information may reveal some huge issues. Read some reviews about any car you have an interest in owning. No vehicle is without flaws, but learning some facts will keep from purchasing a bad car.
You should also know the approximate value for the car you want to purchase. You can find this value on KBB.com or Edmunds.com for the car in which you want to buy. If the car is priced too far off this value, do not buy the car.
3. Be Cautious with Private Sales
Even though, you can buy some great cars from individuals, you must be very careful about doing this. There are certain regulations dealerships follow, when selling used vehicles that individuals do not have to follow. This means the cars are typically not the same quality from people, as they are from dealerships. You do not have to avoid buying from individuals though, just examine the cars closer to pick up any prospective problems.
4. Thoroughly Examine a Car before Buying
There is no way that you can be too thorough when you are about to purchase a new or used vehicle. Take all the time you need to examine the car. Put it through a test drive. Find out how it handles at various speeds, quick stops and even around sharp turns. Make sure engine hums and not clicks, whines or rattles. Also, check to see if the car pulls to the side as you drive it. Do not take a car you are not pleased with thinking you will be unable to find something better.
If you like how the car operates, and you are pleased with your inspection of it, then run the car's VIN through a service like CarFax. You need to discover the full history of the vehicle. Do your own check online on this, if the individual or dealership you are dealing with will not provide it. This can point out various issues with the car including accidents it has been involved in over the years.
Have a mechanic you know inspect the car for you prior to handing cash over to the individual or dealership. Explain to the mechanic the problems you have seen and ask how important these problems are. A mechanic should be able to steer you towards or away from buying the car. This is so worth the price compared to how much you will pay to buy the vehicle, so make sure to do this step.
5. Be Ready to Negotiate
Many times, the dealerships are up for negotiating, but you will find some that want to stick to their prices. There is usually $2000 worth of pure profit added to the price of used cars. This allows for some negotiating on the price of the car in which you wish to buy.
You Need to Buy Smart
There are those who purchase used cars only because it is more economical for their budgets. New cars come with finance payments that include a great deal of interest. A preciously-owned car that is not very old can be bought for about half the price of the newest year's model. Besides, a new car during the first year will drop in value a whopping twenty percent, so think before buying.
The fear most have about purchasing a used car is the fact of hidden problems. Today though, dealerships calm this fear by only having Certified Used Vehicles for sale. You can trust the used car is in excellent condition, when you purchase it from a reputable dealership, because the car has gone through mechanical and physical inspections. A used car that is certified and is not that old will operate almost like a new car.
How to Make a Wise Purchase
Now that dealerships have answered the consumers' demand for higher standards, it is not as risky buying used straight from dealerships. With any big purchase, you need to do research and any car is a large, important purchase. The car may look great and the salesperson makes it appear to be a great deal, but you still need to have your own information before spending your hard-earned cash on one. Follow the below tips to know how:
1. Know what you want
Be prepared before you go shopping this type of large purchase. You then should know at least the style and the condition you desire, if not the make, year and model of the vehicle you are looking to purchase, as this will help trim off some time in your search.
If you know one particular car you would like, keep your mind open to other similar cars just in case. You will find that a lot of popular brands are sold today, and some of the popular brands cost a great deal of money. If you keep your mind open about types of cars, you will more easily discover one priced much lower. You may like the Toyota Matrix, but the Pontiac Vibe is a better price for you, for example. If you have done your research, you will know the Vibe was made through a partnership with Toyota and both cars share many of the same parts.
2. Research into the Cars
Never buy according to just the looks of the cars. Many cars can seem in great shape on the dealership lot, but a bit of background information may reveal some huge issues. Read some reviews about any car you have an interest in owning. No vehicle is without flaws, but learning some facts will keep from purchasing a bad car.
You should also know the approximate value for the car you want to purchase. You can find this value on KBB.com or Edmunds.com for the car in which you want to buy. If the car is priced too far off this value, do not buy the car.
3. Be Cautious with Private Sales
Even though, you can buy some great cars from individuals, you must be very careful about doing this. There are certain regulations dealerships follow, when selling used vehicles that individuals do not have to follow. This means the cars are typically not the same quality from people, as they are from dealerships. You do not have to avoid buying from individuals though, just examine the cars closer to pick up any prospective problems.
4. Thoroughly Examine a Car before Buying
There is no way that you can be too thorough when you are about to purchase a new or used vehicle. Take all the time you need to examine the car. Put it through a test drive. Find out how it handles at various speeds, quick stops and even around sharp turns. Make sure engine hums and not clicks, whines or rattles. Also, check to see if the car pulls to the side as you drive it. Do not take a car you are not pleased with thinking you will be unable to find something better.
If you like how the car operates, and you are pleased with your inspection of it, then run the car's VIN through a service like CarFax. You need to discover the full history of the vehicle. Do your own check online on this, if the individual or dealership you are dealing with will not provide it. This can point out various issues with the car including accidents it has been involved in over the years.
Have a mechanic you know inspect the car for you prior to handing cash over to the individual or dealership. Explain to the mechanic the problems you have seen and ask how important these problems are. A mechanic should be able to steer you towards or away from buying the car. This is so worth the price compared to how much you will pay to buy the vehicle, so make sure to do this step.
5. Be Ready to Negotiate
Many times, the dealerships are up for negotiating, but you will find some that want to stick to their prices. There is usually $2000 worth of pure profit added to the price of used cars. This allows for some negotiating on the price of the car in which you wish to buy.
About the Author:
I want to thank Landers McLarty Dodge (www.landersmclartydcjal.com) for sharing some information on new and used car sales trends. I am not associated with Landers and they did not review or approve this article.
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