Potential car buyers who know what to look for in obtaining a used car can usually close a better auto deal than other customers. Considering the staggering figures of over 38.5 million used car sales in the United States, the chances of your finding a good deal are high. This mini-guide for buying a used personal vehicle will shoot up your confidence. Forewarned is forearmed, when you start with more information, hunting for a new ride is easier.
Buying a Used Car
A few of these facts will help you realize how easy it can be to buy a used car.
1. If you want a dream car, be patient.
Tremendous growth of our used car industry means a lot of choices. Do not settle for second best which comes close to your expectations. Be patient and your dream car will turn up when you least expect it!
2. Determine your trade-in secret
Edmunds or KBB gives an accurate estimate of current vehicle worth. If you think car dealerships will undermine the real worth through unfair means, try to sell it yourself. A cash down payment would be better for negotiations at the car dealerships.
3. Pricey used cars
Today’s average used car is newer and pricier because of less depreciation and greater demand. Used cars due to lease returns become good auto deal for potential car buyers.
4. Special alert
About half of hurricane hit vehicles find their way back on road. Learn how to spot hurricane survivors.
Wise Steps to buy a Used Car
Fix a budget and create a car purchase plan.
Cash buyers are more concerned about getting more car with the amount they have. However, do not forget to factor in extras like fees, insurance, accessories, taxes that will eat up in the cash amount.
Similarly, car financing can turn out to be expensive or make you over shoot your budget. A good warning sign is keeping your monthly car payments within 25 percent of your take home income. Brush up your credit reports before applying. Shop for auto finance rates from several financial institutions.
Finding a dream car and checking the price for your ride.
Make a target list of preferences. There is virtually a difference of hundreds of thousands of dollars between popular and comparable makes and models. Go for use factors rather than for status factors. You can choose to buy nicely equipped vehicles that were leased more when introduced as new. Above all, remember neighborhood prices depending on zip code will hit your budget most badly. Then you have to be firm on whether you want a Certified Pre-Owned (CPO) vehicle or take chances on VIN reliability. But beware of scams.
Checking vehicle, contacting seller, test drives.
Pass a vehicle with any flaws. Ensure the current condition at the time of sale purchase. Insist on a test drive and compare information.
Negotiating the auto deal and completing paperwork.
Be reasonable and focused. Stick to your budget. Ensure a contract, bill of sale or pink slip and transfer of registration.