3 tips for buying a used car
Buying a used car can be a fun experience. After all, vehicles tend to cost a lot less than new cars, and one can find a lot in any car model with a little work. However, it is quite easy for them to take advantage of an inexperienced buyer. Here are three quick tips that can help even first-time car buyers make the right decisions.
Do your research
Perhaps the most important part of buying a used car is knowing what to look for in a vehicle. A good buyer will not only have an idea of what a vehicle should look like from a cosmetic point of view, but also of the realistic lifespan of the car. For example, a Mercury Cougar with ninety thousand miles will be at the end of its useful life, while a Dodge truck could have a long way to go.
Make sure you know something about a vehicle’s common characteristics, its realistic lifespan, and common signs of wear. Coupled with an informed knowledge of the car’s realistic price, this can help a smart buyer get a good deal.
Take a look at the history
A major problem many buyers have with used vehicles is the simple fact that one often does not know what the car has gone through before purchasing it. Fortunately, there are several ways to find out the history of a vehicle before making a down payment. First, some kind of car history report should be requested; the most common is CarFax, but there are several other reports available.
If this type of third-party history cannot be found, the seller should be asked directly about the car’s history. If the answer is “it is in perfect condition” or something equally unrealistic, the seller may be hiding a major defect. This is a prime situation where one must follow their instincts about a sales pitch.
Don’t be afraid to walk away
Buying a new car is generally a very careful game of give and take, but buying a used car tends to benefit from dramatic gestures. Used vehicles tend to have significantly more markup than a new car, and therefore the dealer tends to have a bit more discretion when setting a price. If the price you’ve found is significantly higher than the vehicle’s blue book value, it’s time to go.
In fact, any price that sounds suspiciously high should be discounted immediately. Dealers make a living buying low and selling high, and they rightly try to get the most money possible for any used vehicle. As a consumer, your job is to find a price that works for both you and the dealer. If you can’t come up with an acceptable compromise, be willing to walk away.
