Tips for Painlessly Buying a Used Car
Posted on: 2 October 2017
When you're buying a used car, you're in for a lot of potential hassle. If you choose the wrong car, you'll end up with a rust bucket that can barely make it to the nearest traffic light without stalling. If you're careful, however, you can end up with a car that's almost as good as something fresh off a new car lot. Here are some steps you can take to avoid the rust buckets and choose a car that will last for years.
Secure Your Financing Early
Unless you're paying in cash, chances are you're going to need some form of financing for your car purchase. This means you need to take a day to analyse your financial situation to determine how much you can afford to spend on a car. Next, you'll need to decide whether to finance your car through a bank or through the dealership.
Most conventional advice suggests to go with a bank for financing, rather than a used car dealership. Dealers are able to offer some discounts when you finance through their offices, but you should always read the contract they offer before you sign. Then again, if you have poor credit, a bank might not offer you a loan. You'll have to make the decision based on your financial situation; no online advice will give you the answer you need.
Make Sure You Pick the Right Car
The first thing you should look up is what sort of car you're after. Don't go to a dealer lot and wander around until a car looks good; pick a make and model before you visit the dealer for the first time. How do you do this? You should pick up a copy of the latest Consumer Reports for automobiles. This resource will give you a great idea of the rough value of various makes and models, as well as the common flaws. You'll want to avoid vehicles with common, expensive repairs, for example
You should also gather local resources. Generally, major metropolitan areas will have their own local car publications, found in grocery store lobbies and other public areas. Newspaper classifieds and other local advertising boards are a good resource as well. You need to make sure the make and model of vehicle you want is actually available in your area.
At this stage of the game, time is your ally. If you are in desperate need of a vehicle to get to and from your job, you're going to end up paying more for that vehicle than you otherwise would. If you have the time, you have the luxury of waiting for a good deal. With time on your side, you can pick your ideal make and model, and then wait for one to appear on the market.
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