For a lot of people when they hear the words used car they think of grandmas old cavalier. That isn’t always the case. Buying a used car can mean you get more bang for your buck. Used cars also hold their value better. When you buy a brand new car the minute you drive out of the parking lot you car drops in value by a few thousand dollars. Buy a used car and save the car payments.
But you also have to remember that buying a used car is a AS IS sale. The condition of the car doesn’t matter. You purchase the car and all the problems that come with it. Know what you’re willing to spend. Remember cash is king. When your able to pull out cash at a car sale your in a much better place to make a deal than someone who doesn’t. The seller doesn’t have to worry about holding the car, or messing around with financing.
Buy a used car
Know what you want and how much it’s worth. Go to Kelly Blue Book and Edmunds.com and see what they say the value of the vehicle is. Look around the web and see what people who own the vehicle think of it. Know what Price other people and dealerships are listing the car at. The more research you do, the better.
Ask questions. Don’t just ask general questions be very specific. How many miles per gallon rather than is it good on gas? Do you have a clear title? Make a list of all the question you have. Even if you think they’re silly the more information, you have the better.
Take a mechanic. Never I mean NEVER buy a used car without having it looked at by a mechanic. Like I said above it’s an as-is sale there are no do-overs. When you own it, you own it problems and all. As Judge Milian says the name for a buyer, who doesn’t get a mechanic to check put the car is litigant because you’re more than likely going to end up in court.
Run a carfax. A carfax won’t tell you everything, but it will tell you if the car has been in an accident or not. A carFax will also tell you if a car has a salvage title, reconstructed, or flood. A carfax isn’t perfect, but it will give you some information on the car. You will need the VIN for the car to run the carfax.
Be willing to walk away. Don’t get attached to a car. You have to be willing to walk away if something just isn’t right. A buyer will try to pressure you into buying if they think you are desperate. As a buyer, you have all the power. There are thousands of cars out there that you can buy but the seller needs to sell, and cash is a great motivator.
Put everything in writing. Everything needs to go in writing. If you are buying it from a private party and they tell you it has a new starter make sure it wrote down and signed. Also, make sure you do not give cash without a receipt.
Take your time. Remember this is thousands of dollars and a purchase that needs to last you awhile.
What is one tip you would give to someone buying a used car?