Tips for Buying a Used Car

Car buyers on a tight budget, or those just interested in getting the best possible price for the car they need, should always consider used cars throughout the vehicle shopping process. While shopping for a used car, there are buying tips everyone should keep in mind.

Budget

The first step in buying a used car is determining your budget. Not a vague budget, but a specific maximum monthly payment you can afford. There are several factors that should be worked into the budget you set for your used car. Average fuel costs based on your driving habits, insurance premiums for similar makes and models and required routine maintenance expenses should all be considered when calculating the highest sticker price you can afford.

Equipment and Features

One of the primary differences between buying a new car and one that is used is the ability, or lack of ability, to customize the equipment and features you want and need. When you buy a used car, there are no factory upgrades or optional features you can add before receiving the vehicle. You should know what your daily driving habits require you to have in a car, such as storage or seating requirements, and which features you could live without. By considering the equipment and features necessary to accommodate your life, you will narrow the field of used car options to those which fit your needs.

The Car’s History

Every used car has a history. Before purchasing a used car, responsible shoppers should look into the car’s history for signs of potential problems. Accidents, damage from water or fire, altered odometer readings and other aspects of a car’s history are important negotiating tools. This information can help you haggle down the asking price of a used car or keep you from buying a car with serious issues in its past.

Private Sale vs. Dealership

Lastly, you should determine whether you are better off buying a used car from a dealership or a private party. A private sale might be the best fit if you can answer “yes” to the following questions:

• Do you know and trust the seller?
• Is the used vehicle available for a great price?
• Do you have the money to purchase the car outright?
• Can you get the car checked by a mechanic before purchasing?

However, if you plan on financing the car purchase, have a specific car you are looking for or have a car you want to use as a trade-in, a dealership is most likely the better option.

A clear idea of what you are looking for, a specific budget and ability to look into a car’s history will make buying a used car much easier to accomplish with positive results.

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