Buying a used car can save you a lot of money,
especially if it is only a year old. Depreciation on a car that is a
year old can be from 20 to 30 percent of it's original cost. You will
also save on insurance and many of them will still be under warranty.
Used car dealerships offer certified used cars which means they put them
through an inspection so you don't have to. Buying from a private party
can be less stressful as you can negotiate the cost.
Selecting
a car that fits your budget and lifestyle is the next consideration you
must make. Consider a few different cars in case you can't find exactly
what you want that are in the same class. If you are looking for an
SUV, you should choose a class of SUV's to make the search easier. You
may not get all of the options or the color you are looking for so
prepare to be open-minded. Another important factor to consider is if
you want an automatic or a manual transmission.
When
you find a car that you like take a look on one of the online car
reporting sites to check what the blue book value of it is. The make,
year, mileage, options and popularity all play a part in the value. Take
into consideration that if you choose a popular car you will pay a
higher price for it.
Research the type of
car you are looking for to see if it has had any recalls or if the year
you are looking at has any inherent issues. When you find a car, ask
the owner over the telephone if they have all of the service records for
you to review. This will give you an idea of how well maintained the
car is and if it has received all of the recommended services. Running a
vehicle history will tell you about the title and if it has had any
accidents.
Decide how much you can
afford, if you are going to be taking a loan out figure the monthly
payment in your budget. Also figure how much of a down payment you have
to reduce your monthly payment. After determining how much you can
afford and how much you have as a down payment then you can search for a
car in your price range.
To pay for your
car you can use cash, financing through a credit union or bank or
through a car dealership. If you pay with cash you can probably
negotiate more with the seller. Using a bank or a credit union allows
you to keep the negotiation simple, show competitive rates, remove the
dealership from financing which will encourage you to stick to your
budget.
The most common places to shop
for a used car are through private parties, on used and independent car
lots. Private party car sales can be found online, while driving down
the street or in newspapers. Used car lots can offer trade-ins for your
car and also certified used cars that have been inspected. Independent
car lots sell cars as is.
When buying
used
cars know what to look for to eliminate problems. If you are
not sure have a pre-inspection done by your mechanic. When a price has
been decided on by both parties ask the seller to see the pink slip,
check the title and have them sign it over to you before you give them
the cash.
