What To Look For When Buying A Used Car
Whilst many people dream of buying a brand-new car, this is often beyond people's budget. If this is true for you, you could research pre-loved cars. The right choice could secure a bargain, but the wrong decision could cause regret and expense. This article explains the key things to look for when buying a used car.
Affordability
Review your financial position (i.e. regular income, outgoings, and savings) and only consider vehicles within your price range. This will narrow down your options and save time. Think about the asking price and factor in insurance, maintenance, servicing, and fuel costs.
If you recognize your financial limits, it'll simplify the negotiation process. If you pursue financing, thoroughly read the small print and look for hidden costs. Look for the lowest interest rates and be certain you can afford each monthly repayment.
The Car’s Market Value
Look online for similar models and makes of secondhand cars, and try to find those of a similar age and mileage. If a car has been customized or improved in some way, you'll need to allow for this. You can find help by going online and entering 'Kelley Blue Book' or 'Edmunds' into a search engine. Also, adverts in your local papers will indicate how much people in your area are willing to pay.
Specialist websites will tell you more about this and also provide additional tips. If you want to know how to buy a used car, you can learn about choosing those that are MFA (Manufacturer's Factory Approved). You'll read about involving a licensed mechanic during inspections and using the VIN (Vehicle Identification Number) to learn more about each car.
The Maintenance Records And Vehicle History report
If there's full paperwork regarding a car's service history, the vehicle's probably been well-maintained. This reduces the risk of neglect-related wear and tear issues. If the documentation is incomplete, the seller could be trying to hide details of major repairs.
The vehicle history report can tell you about the car's ownership and mileage. You'll also discover whether it's been involved in previous accidents.
Inspect The Exterior And Interior Condition
Look for dents, scratches, and rust, and assess the paint quality and consistency. Are the tires worn and are there any cracks in the windshield? Make sure all the lights are working and check the bumpers. Make sure there are no leaks (e.g. oil, coolant, etc.) and the roof is in good condition.
In terms of the interior, look at the state of the upholstery. Make sure everything's working on the dashboard. During your test drive, listen for any strange engine sounds, or the smell of fuel, etc. These checks will help you avoid buying a troublesome car. They will also help you if you seek to resell it at a later date.
A Test Drive
A private seller or dealer may seek to impress you with their sales talk. You may have also read compelling professional reviews of the car online. However, nothing can replace the importance of taking a test drive. It's your vital opportunity to assess things like:
- car maneuverability
- ease of parking
- how well it accelerates
- its braking efficiency
Try to vary the terrain so you can check the suspension, and review how comfortable you feel. Would your family fit inside, complete with all your travel equipment?
Warranty Options
Private sellers offer the car 'as is', so you're taking a risk when you drive away. In contrast, some dealerships sell pre-loved cars with warranties. That means future issues (during the warranty term) will be rectified free of charge - providing extra peace of mind. An extended warranty is especially desirable, or accessing certified pre-owned programs.
If a warranty is offered, it demonstrates the seller's confidence in the car. Check for any issues excluded from the terms, and don't neglect regular maintenance (which could invalidate the warranty).
Negotiation
If you know beforehand how much the car's worth, you'll be well-prepared. You could even show screen prints of online listings to the seller. Also, pre-decide the maximum you're prepared to pay.
Point out any issues with the car if you're offering less than the requested price. If you're not both agree, walk away. If you're not confident negotiating, bring a friend with you.
Thanks to these pieces of advice, you'll have an effective buying strategy. You'll know what to look for and what to avoid. In turn, you'll find something that ticks all the boxes. Your new purchase will serve your needs both now and in the future.