If you’re looking to buy a used car, you’re far from unique. Buying a used car is like going on a treasure hunt. With so many options, buying the right car for you can be a challenge. There are unbelievable deals out there, and with the technology of the Internet as a car shopping tool, you have every chance of finding a good deal on a car that meets your needs and fits your means.
Buying a used car can save you a lot of money compared to a brand new one. It will save you money on car insurance, depreciation, and registration, which is the loss in a car’s value due to wear and tear over time. This is why I am writing this blog—to fuel you with top checklists and tips to lessen the chance of any surprises when you are buying a used car.
1. Set your Budget
If you’re financing a car, the payment should not exceed your expectation. If you’re paying cash, budgeting is pretty easy, but do not consume all your savings. Cars need maintenance from time to time. Remember to set aside money for maintenance and possible future repairs. Also, there are other ownership costs shoppers sometimes forget to consider, such as gas and insurance. At Cars and Credit Master, we listen to your wants and wishes, and determine what car fits your lifestyle and budget. You can rest assured that we will help you find the right car at the right price.
2. Do Your Research
The most important thing to know before you buy a car is that you already have the idea. It’s a mistake to enter a car lot without first researching the car you want to purchase. You can find out just about anything you want to know about a car online.
Cars and Credit Master has one of the biggest inventories of quality used vehicles in the Dallas, Houston metroplex, and Fort Worth area, including a broad selection of SUVs, trucks, and vans such as Chevy Tahoe, Ford F-150, Chevy Silverado, and Cargo Vans. You can see available vehicles by checking out our car online inventory.
On the other hand, if you are considering buying a used car, research the current resale price for that particular car model. This data will give you major trade power. If you plan to trade-in in your current car, research market values for your vehicle, too. With that, the value of your trade-in can also be a powerful bargaining tool.
3. Stay up to date with Used Car Market Values
If you’re in the market for a used car, then looking at various sites on the internet is a great way to see what is around and what you can afford. You’ll get a good standard on whether you’re paying over the value, and with a variety of choices, you do not have to rush into buying a car if you don’t think it’s the right one for you. If you’re looking at mainstream models, then there will always be plenty of sample models that make a great offer if the price is not right. Check out our used car dealership guide to find out more.
4. Inspect the Car Carefully
Rain on the paintwork can hide a number of scratches, as will streetlamps, so try and look at cars in good weather, and clearly examine them in daylight. Take the time to look over every panel and all the surfaces on the interior. Older cars are bound to have odd scuff marks, so of more importance will be to make sure dashboards and accessories work. Do all the electric windows open at the same speed, and does the air-conditioning blow cold? Double check everything.
5. Always Take a Thorough Test Drive
It’s essential that you test drive your potential new vehicle. How the seats feel is an important factor. If you are not comfortable during your test drive, they’re unlikely to get better after you buy the car. Your sense of touch on the steering wheel may help you feel suspension, steering, or tire issues. Does the car start easily? Are there any strange sounds coming from the brakes or engine? Does the steering wheel pull to one side? Is there any significant smoke coming from the exhaust? Make sure you have insurance before driving, too.
6. Check the Car History Report
Unless you’re buying the car from a close friend or family member who can vouch for its history, plan to get a car history report. Our inventory consists of CarFax Certified cars and all have clean titles. This early step is essential. If the car you’re looking at has a serious history report, it is better to know sooner than regret later.
History reports can reveal necessary information about the car, including whether the odometer has been turned back or if it has a salvage title. In some cases, you just need a license plate number. Most dealers offer these reports for free if they have the car registration in their inventory.
7. Avoid Fancy Buying
Fancy buying is an unplanned decision to buy a product or service. Buying a car on an impulse is a risky attempt. You might realize after it’s too late that you can’t manage the car, or you may find that the performance of the vehicle does not meet your expectations. By researching the make, model, and style of the car, and reviewing insurance rates and financing, you should be able to put yourself in a car that you will enjoy for many years to come.
8. Wait for the best time to buy a Used Car
Once you’ve decided what car to pick, now you need to know how to get the best deal. One way to slash costs is to buy at the right time. Dealers have targets to meet, with bonuses up for grabs. Typically, these are based on quarterly sales, making the end of March, June, September, and December a good time to buy. They need to shift cars, so will be more willing to negotiate and offer attractive finance packages. Keep an eye on prices a few months before you actually buy – if they’re heading down, you may want to wait. Heading up, and it’s prudent to buy sooner.
9. Negotiate with a Good Deal
Buying a car is next to buying a house, one of the most important investments you will make in life. In fact, you may be paying off the car for the next five or ten years.
Do everything you can do to negotiate the car loan and bring the purchase price down. Start with an absurd number, and work backwards. Walk into the dealership with confidence, stick to your plans, and don’t feel bad about walking away from any offers. It might also be helpful to practice your negotiation strategies to prepare.
10. Finalizing the Deal and Payment
When you’ve agreed with a price and are going to buy a car, make sure terms are agreed in writing, with a receipt that both parties can sign and keep a copy. It should include car details, price, terms of sale and both the seller’s and buyer’s name and address.
If you’re buying through a reputable dealer like Cars and Credit Master there should be no concerns here, but it’s worth repeating the obvious advice about paying for a car. Be careful about taking large sums of money to pay for a car. If possible, use a money transfer. Never take cash to a meeting place that isn’t the seller’s home address.
Final Thoughts
In the end, buying a car is a major purchase, and it’s important to research every aspect of the process. Guide yourself so you can go into negotiations well-prepared to get the best deal possible on a used car. By following the tips outlined in this article, you’ll get the best price possible for your next car.
Do you have your own personal tips for buying a used car? What was the process like for your last purchase?
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