Buying a brand-new car, even if it’s a used car, may be the smartest thing to do in most cases. But it does not come cheap. The good news is just because you are going with a used-car, it does not mean you will have a backfiring, exhaust blowing, engine stalling vehicle.
As long as you know what to look out for.
Depending on where you decide to buy your used car from, you really need to be prepared for everything. From minor problems to major disguised problems.
The good news is that you are not alone. My hope is that by the end of this article, you will know exactly what to look out for when searching for a used car to invest into.
Set Your Budget And Stick To It
The biggest mistake second-hand car buyers make is being intimidated into spending higher than they anticipated.
It is important to do your research before heading to the dealer. Not only will this give you a solid backing behind how much you want to pay. But it will also increase your negotiating power for a vehicle.
Regardless of whether you decide to buy the second-hand vehicle through a dealer or a third person seller – make a realistic budget and stick to it. Also, don’t forget that your budget needs to encompass additional expenses such as small repairs and inspections.
Know Exactly What You Are Liable To Pay For
If it’s your first-time looking for a used-car, you are in for a few surprises. From fees, to insurance – it can be rather expensive. Which is why it is so important to make sure you know everything that you will be liable to pay before investing in the car.
If you’re taking out a loan, a great advantage is knowing exactly what you need to pay for and how much. In some cases, you may even get some crazy premium interest rates depending on how high the expenditure is for the vehicle. And remember that a title loan can be refinanced.
Get The Car Inspected By A Professional
It’s easy enough to inspect a car yourself on the surface-level. You know, making sure the seats are comfortable, the dashboard is clean – all of that jazz.
But when you buy a car, the engine, the gaskets, and fuses are far more important.
Which is why you need to have a section of your car budget ready to hire a professional to perform a thorough inspection of the vehicle. This will help ensure there are no lurking problems within the car that makes it a bad investment in the long-run. Saving you a ton in unforeseen costs at the same time.
Make Sure The Car Has A Reputable History
Imagine this nightmare. You just bought a new car. Perhaps it’s your first-car. You drive it around for a couple of weeks, just to have police officers at your door asking you why you are in the possession of a stolen car related to who knows what crimes.
Sounds absolutely horrid, right?
That is why it is so important to ask for the vehicle history report. This report should tell you everything there is to know about the history of the car. From damages over the year, to maintenance, theft, repossession, and more.
Ask The Current Owner Lots of Questions
Here is one that you won’t hear every day. I personally found this helpful. When you are talking to the current owner of the vehicle – ask him/her questions. For example, why are they selling? Was he the driver of his car? Perhaps it was driven more often by someone else?
At the end of the day, this will build an open communication between you and the current vehicle owner, and you would be surprised at how valuable that can be. At best case scenario it could save you from investing in a problematic vehicle for the long-run.
This will increase your knowledge about your newly purchased car. If you run into any problems in the future, the person you bought it off of might be able to help you out. Buying a used car is tough. Keep these tips in mind before you make your next big purchase.