Buying a Used Car? 5 Things You Should Know
Buying a brand new vehicle can be a costly endeavor. While driving a nice new car sounds appealing, years of high monthly payments and immediate loss of value due to depreciation does not sound so appealing.
Purchasing a used vehicle may be the way to go. Buying used can not only cut down the cost of your monthly payments, but it also can decrease the cost of your insurance and registration. However, when it comes to purchasing a used vehicle it is important to do your research. You want to get a great deal, but you also need to make sure that what you are buying won’t leave you with costly repairs in the long run.
At Smyth Automotive we want to make sure you get the most out of your hard earned money. Here are five things you should know before purchasing a used car.
1. History of the Vehicle
Several websites, such as CARFAX, provide detailed descriptions of a vehicle’s history to make purchasing a used car easier. The report allows you to view any of the vehicle’s reported accidents, service records, title, mileage history and ownership. That way you have an idea of what the vehicle has been through in the past.
2.Condition of the Vehicle
Have the car inspected before you buy. Take the vehicle to a trusted certified mechanic and have him inspect it to make sure everything is running properly and in that the car is in good overall condition. You also should test drive the car to see how it drives and to make sure it’s the right choice for you.
3.Vehicle Value, Features
What are you looking for in a vehicle? Do you want a compact car or an SUV? Do you want it to have heated seats? Or, can you simply not live without a sunroof? Take some time to research the vehicles that match your needs. Also, be sure to check the price on Kelley Blue Book so you have an idea of what you are going to pay for the vehicle in your particular area.
Set a price range for yourself and do not let the salesperson persuade you to extend your budget. It is important you negotiate a price that you are comfortable with. You need to be firm and remember that a used car budget should also include money to cover necessary small repairs, as well as an inspection.
Can’t pay for the car with cash? That’s okay, there are several financing options outside of the dealership. Credit unions are a perfect place to get a smart rate on an automobile loan. Make sure you get rate quotes from multiple lenders and compare them.