How to buy a used car
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Buying a used car can save you thousands of dollars. A new car depreciates the second you drive it off the car lot. In fact, a new car is only worth about 60% of its original price within the first 3 years. When you are shopping for a used car, you will get a better deal if the car is 2-3 years old, versus brand new. Since people lease cars, they will turn them in after 2-3 years, giving you the opportunity to buy the car for the amount it is worth. You can easily get a used car that comes with several additional features like a sunroof, leather seats, navigation systems, etc. for half the price of a brand new car.
Used cars do come with their fair share of problems though. If you don't know the vehicles history report, you will never know if the car has been in an accident. It is also important to find out how well the car has been maintained and how many miles are on the car. Some cars have a lot of miles because they were commuter cars, if the car was properly maintained, having a lot of miles on the car isn't as bad as it may seem. Several people will dump their cars once they reach about 50,000 miles. They often do this because the automatic transmission starts to wear out and the car starts having engine problems. Some of those problems may not have been noticeable when you bought the car, but they happened about 2 months later.
When you are used car shopping, it is important to do your research. Go to consumer reporting web sites and find out what the vehicles test results are. Check for safety and performance features too. If you know anyone that owns that particular car, ask them if you can come for a ride in it. This will give you a feel of how the car handles and you can ask them if they like the car and if they have had problems with it. Keep a list of all the routine maintenance costs you will have so you can compare this to other cars. When you are test driving the car, ask the dealer or owner if you can take it to your auto mechanic. It is important to have a mechanic check it over for any problems so you know what your repair costs will be before you purchase the vehicle.
"Negotiating the price for a used car"
If you are a skilled negotiator, you know how to deal with the car salesmen that want to sell you a car at the highest possible price. When you decide on the particular car you want, start negotiating from the get-go. The first price you are told will be the highest price. Start negotiating about $500 to $1000 below the asking price. Then talk about additional fees the dealer wants to add on. Once you have a new price, tell them you can only pay another $1000 less. This way if you start at $17,000, you are down to $15,000. If the dealer feels like you really want to buy the car, they will agree to the amount you are offering or they will bump up your amount by $500 or so. Getting $1,500 knocked off the sticker price is a reasonable negotiation.
Car salesmen are paid on commission, so they want you to pay as much as possible. Be prepared to walk away from the deal if they are un-willing to budge. You do not have to decide that second if you want the car. There are several cars out there; it may take you a couple extra days before you can get your hands on the right car. Some car salesmen will even call you within 24 hours to agree to your terms, especially if they are desperate to sell the car.
You can also take a picture and report of another car you are considering. Show the car salesmen this information and ask them if they are willing to price match. Even if you haven't driven the car, let them think that you have and that you like it. If the car salesman is willing to lower the price, you have won the negotiation process.
Negotiating with a private seller is a little different. Typically they will list the car for what they think it is worth. Check it over well and let them know why you want to pay $500 less than their asking price. Maybe the paint is chipped or it needs a new fender. Whatever you find, always bring that up when you are negotiating with a private seller.
As you are out car shopping, keep your options open. Try to have at least 2 solid car choices in mind, but do not be afraid to branch out. You may go in thinking you want a Camry, but come out being satisfied with a Caviler. When you have a few options in mind, it will be much easier for you to compare the prices and specifications of the cars. You can decide if you are willing to accept one car because it has fewer miles or if you want to purchase the other car because it has luxury features. Whatever you do, don't let the car salesmen try to sway you away from your choice. They want to sell you a newer, more expensive car because they get a higher commission check.
You should always request a copy of the vehicles car history report. Seeing the history report will give you a good idea as to how the car has been maintained because there will be a list of past problems. The car history report also allows you to see how many times the car has changed owners. You want a car that has had a low number of owners because it can help you determine how well the car has been maintained. A vehicle history report will also let you know if the car has been restored from a serious accident or from a natural disaster. You will also be able to see if the engine has been replaced or if the odometer has been rolled back. Knowing the vehicles history report can save you thousands of dollars on repair costs. Always obtain a copy of the vehicle history report before you buy the car for your own protection.
Don't always believe what you read or hear from other car owners. You may have a friend that used to own that particular car and absolutely hated it because they bought a lemon. Just because your friend didn't do their research doesn't make that a bad car. Your friend may even have a bias opinion about a certain car manufacturer. They might only buy Toyota vehicles because they have a good resell value. Whatever your reasons are, make sure they are your reasons and not your friends. Ask someone that truly knows cars for their opinion. An auto mechanic is a perfect person to talk to about used cars because they have probably worked on them before.
Depending upon where you buy the used car, you need to read over the agreement. A private owner will not be offering a warranty with the car, so you must find out if there are any registered liens against the car. The person that signs the Bill of Sale must also be the owner of the car, or else you could wind up in a lot of trouble. You can find out this information with the Vehicle Registration Authorities. If you are buying the car from a dealer, read the fine print of the contract. You need to make sure the contract states exactly what you and the car salesman agreed to. Everything you have been promised needs to be in writing.
When you are shopping for a used car, you need to shop around. Don't just buy the first car you test drive. You can find the same model online or with other dealerships that could be offering incentives and better loan rates. Used cars need to be reasonably priced and must be in good condition. The worst thing that can happen to you is that you buy a nice used car only to have it break down within a month or two of buying it. It may be worth it to buy the more expensive used car with fewer miles and past repair costs than to buy the car with the luxury features.
If a car is below blue book, there is probably a problem with it. When a used car deal sounds too good to be true, it probably is. Find out as much information as you can about the car and then do a price check on the internet with several web sites to determine the car condition and the features of the car. The price for a good used car should be in the median range. If you are searching for a used car that has a price range of $12,000 - $20,000, you want to search for the cars that are around $16,000. These owners are more realistic about the condition of the car and they are asking a fair price for the car.
When you are buying a used car, you need to trust your instincts. The car with fewer miles and a nicer interior may look more attractive, but the car with a good owner is more important. Having an owner that took good care of the car like rust proofing, regular oil changes and check-ups, and transmission services is far better than an owner that just kept the car clean.
As you are out car shopping, you need to decide how much work you want to put into the car. If you only like to deal with routine maintenance like new tires, oil changes, and gas, you want to get a car with a warranty. Individuals that know how to work on cars can purchase just about any type of car and be okay. When you are shopping for a used car, try to keep the total mileage amount below 150,000 miles. The more miles a car has, the more problems you will have. You will find yourself replacing fuel injection systems, power steering, transmissions, and several other things. Cars that have undergone serious restoration are also full of problems, especially if you do not know how to work on them. This is why it is important to always check the vehicle history report before you buy the car.
Always avoid purchasing a car that has been in a serious accident. Cars that have been in frontal collisions always have problems later on down the road. If you are buying a car to tow your trailer around, you definitely don't want a car with frame damage. Always take your time when you are car shopping, don't be in a rush to buy the first car you see. Test drive several cars and different models before you settle on one specific model. Most cars will not sell within 24 hours of being listed, so you can take your time. If you are unsure about the car, don't buy it. Always trust your instincts because something could be wrong with the car.
Used Car Help Links
- How To Buy A Used Car Using Craigslist
Buying a used car from a private party can be a bit intimidating. How can you trust someone you met on the Internet, right? The truth is that you can't really trust anyone, all you can do is be prepared. - Used Cars Under $1000
You are given 1000 dollars to buy a car, not just any car but one that runs good, and has little to no problems, the problem is you are not sure what types of things you should consider.The first thing you...
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Lori Catz says:
2 weeks ago
If something is too good to be true, it probably is. Great hub!