So you’re thinking of buying a new car or updating an old one, but after checking your bank balance, you can see that a brand-new model is out of the question. So, what does that leave you with? Well, in reality, you’ll have to opt for a used vehicle that fits your budget and includes all the bells and whistles that make driving an enjoyable (or at least tolerable) experience.
However, whenever the words “used car” are uttered, most folks tend to break out in a cold sweat, imagining images of high-pressure sales and ending up with the dreaded buyer regret after you drive home and the bumper falls off.
Fortunately, things have changed a bit since the seedy days of yesteryear, and it’s now possible to find some incredible deals with very little work. In this guide, we will give you all the tips you will ever need to make the process more straightforward, enabling you to drive away feeling content in whatever purchase you end up making.
Research Your Ideal Used Car Before Anything Else
As you might if purchasing a new car, you should always sit down with your other half and take some time discussing what you actually need from it. This could be looking for used cars for families that have all the things that families look for (safety features, plenty of storage, etc.) or a city runaround if you are single or a couple and only need something to buy groceries once in a while. Performing this step with a clear head and not allowing your emotions to get the better of you will help you develop a shortlist of options, making it easier when the time comes to search for the models that fit the bill.
Set A Realistic Budget (Used Doesn’t Always Mean Cut-Price)
Although you ought to expect a relatively steep discount when searching around used cars as opposed to new ones (they tend to depreciate up to 9% once they drive off the lot), don’t expect to find a low mileage model in pristine condition for less than half the original price…it simply doesn’t exist. Moreover, depending on which country you live in, the second-hand market can be a seller’s market more than the new one, making it more expensive than most folks imagine. Therefore, you need to set a realistic budget and possibly look outside financing if you want something a little more premium.
Explore Reliable Online Resources
Online reviews (both user-generated and professional) can be a great source of information when it comes to research. They can provide you with a considerable amount of information that you can use to narrow down your shortlist even further. You can use user-generated reviews to help you figure out what the vehicle is like to use after a certain amount of time, while professional reviews usually dig a little deeper into the specifications, which can tell you about other things you care about, such as fuel economy and safety ratings, etc.
Check Vehicle History Reports
Perhaps one of the most significant advantages of buying a new vehicle is that you don’t really have to worry about its history or if it had been involved in a crash. Consequently, when you buy a used model, you will need to perform your own vehicle history check to ensure that everything is as it should be. If you buy from a licensed dealer, then they ought to have already performed these checks before they bought, making the process less involved for you, but this obviously comes at an additional expense due to the time they take to ensure the car is roadworthy.
Negotiate The Best Price
Perhaps the best part of buying a used car is the fact that it tends to be a bit more wiggle room when it comes to price. However, this comes with a pretty hefty caveat, which is that you need to be reasonable in your negotiations and remove any thought from your head that you will achieve anything more than a single-digit percentage from the price. As long as you are respectful of the salesperson’s or seller’s time, you should be rewarded with a slightly more digestible price in the end.
Get A Mechanic’s Opinion If You’re Buying From A Marketplace Rather Than Dealership
If you choose to go through the Facebook marketplace or other private sale process, you might consider hiring a mechanic for the day to give any car you are looking at a thorough inspection. This can help you spot signs of wear and tear that could be costly to fix and other issues that are not apparent upon a basic inspection by yourself. If you buy via a dealership, it’s far more likely they will have an in-house garage they use to perform the inspection before they buy the car from the previous owner, which can be invaluable if you’re a first-time buyer.
Buying a used vehicle involves many of the actions you would take if you opt for a new one. However, there are several additional aspects to consider if you want to ensure you end up in the right car without any bank-busting issues.
