Buying a car is an exciting prospect, but because it’s a big purchase, it’s not something you should take lightly. Used cars can be an excellent investment—you avoid the first-year depreciation, which is 19% on average. You typically will be able to afford better options and features as well. Plus, you usually have less fees, taxes and insurance rates.
Even with all the benefits, buying used means you need to be even more diligent about researching and gathering information. In fact, there are a few things you should always inspect before buying a used car.
The four most important things to inspect before you buy a used car can be broken down into categories: Exterior, interior, performance and provided information. This covers pretty much everything you’ll want to know. Here’s how to go about inspecting your prospective new ride:
Exterior
Start your journey by wandering around the car, truck or SUV you’re interested in. While doing so, look at:
Interior
Once you’ve perused the outside of the vehicle, it’s time to start on the inside. This includes more than you think, including:
Performance
If the vehicle passes the first round of inspections, move on to performance. This means a test drive. You’ll want to check out every situation you can, like turns, slow roads and freeways. Here are some things to watch, feel and listen for:
Provided Information
If you’ve passed the first three tests, look to the information provided as the final part of your inspection. Vehicle history, warranty information and car statistics (odometer reading, model year, etc.) are all important pieces of the overall picture. Feel free to use the information for your own research as well, such as the used car value and reviews. Decide how old is too old, and how much mileage is too much mileage. Look at the MPG—can you afford the gas? The more you know, the easier it is to make a decision.
Let’s say you know nothing about vehicles. Unless you have a mechanic friend, you can also enlist the help of a professional. Many auto mechanics offer used car inspections in their list of services, and a third party is your safest bet.
A used car can be an excellent purchase, just make sure you know as much about what you’re buying as possible before you drive off the lot.