Buying a used car is not easy. You have to be ready to spend hours researching and negotiating, and then there are the details that can go wrong with any used vehicle—including ones that come with their own history of problems. But if you know what to look for, buying used can save you money while also giving you peace of mind about your purchase. And once you’ve made that decision, you’ll need financing options that suit your budget, credit history, and needs. In this article we’ll talk about how much buying a used car will cost (spoiler: less than buying new), how to find one that suits your needs without breaking the bank or hurting your credit score, and how best to pay for it all once you’ve found “the one.” By knowing what questions need answering before hitting up a dealership or classified ad section online or otherwise visiting local lots for inspection purposes we hope this post helps ease some anxiety around making such an important investment in yourself!
Do your research.
You should also do some research on the car’s history. There are several websites that can help you find out if the car was ever involved in an accident, or if it has been reported stolen. You can even use these sites to find out if someone else has already registered ownership of your prospective purchase–which could indicate that they’re trying to sell it under false pretenses.
When you’re looking at purchasing a used vehicle from an individual seller, always check their reputation online and ask for references from others who have purchased from them before–and please don’t forget about checking their location! If this person lives far away from where you do and claims their location will allow them easier access for repairs or maintenance issues down the line…don’t believe it! It’s likely just another attempt at getting rid of what might otherwise become far too much hassle than anything else.”
Be prepared to negotiate.
- Be prepared to negotiate.
- Know what you want, and have a budget in mind before going shopping.
- Do your research on the car of your dreams, so that when it comes time for negotiation you are armed with facts about its value and condition.
- It’s okay if the dealer doesn’t budge on price–walk away! If they do give in and lower their asking price, be sure that this is still within reason based on what other dealerships are charging for similar vehicles (or even ones with less mileage). If not, walk away again until they come up with something better suited to both parties involved (you and them).
Check out the car’s history.
When buying a used vehicle, it’s important to know the history of the car. This includes checking for any accidents or damage to its body, as well as maintenance issues such as recalls.
If there are any open recalls on your vehicle, this means that there may be something wrong with it that could cause serious injury or death if left unrepaired.
Have the car inspected by a mechanic.
You should also have the car inspected by a mechanic. A mechanic can tell you if the car is safe to drive, and they can also give you an idea of how much it’s worth based on its condition. The mechanic will look for any serious problems with your vehicle (like bad brakes or engine trouble) that might need to be fixed before you buy it.
Get an extended warranty, if you can.
An extended warranty is a service contract that protects you from having to pay for repairs on your car if something goes wrong. You can buy these warranties at the dealership when you purchase or lease your vehicle, or at any time after buying it used.
If you’re thinking about getting one, here are some things to consider:
- How long is the warranty? Most are good for up to five years or 100,000 miles (whichever comes first). But some will cover longer periods–upward of seven years–and may also include unlimited mileage coverage.* How much does it cost? The price varies based on factors like make, model and year of manufacture; but generally speaking they cost $200-$400 per year.* Is there an exclusion clause in case something happens due to negligence on my part (for example: not changing my oil regularly)? If so then this could leave me responsible for expensive repairs down the road!
Consider buying from a dealership or a private party (or both).
A dealership can be a good place to buy a used car. They can offer warranties and financing, which private sellers may not be able to do. However, if you’re looking for a specific model that isn’t in stock at the dealership where you want to buy your car, they might not have it available.
Private parties may also be more flexible when negotiating prices than dealerships are–but this depends on the seller’s motivation and how much time he or she wants to spend haggling over price with you (or whether he or she even wants to sell). Before making any commitment with a private seller, ask for permission from him or her so that both parties understand what kind of agreement has been reached concerning price and other conditions surrounding sale/purchase of said vehicle(s).
Financing is important, so make sure you have good credit and can prove it.
Your credit history is an important part of your financial profile. When you’re buying a used car, financing is essential and your ability to get approved for a loan will affect the price of your vehicle. If you have bad credit, it will be difficult if not impossible for you to get approved for an auto loan. That means that unless someone else co-signs on a car loan with you (which can be risky), there may not be any way for you to buy this used car at all!
So what should I do?
The first step is checking out your current score–you can do this for free on sites like Credit Karma or Experian’s WalletHub Score. Then consider getting pre-approved through one of these sites so they can help match up lenders who might offer competitive rates based on what they see in their database of customer profiles and historical data from previous loans made by those same lenders (among other factors). Next comes talking price: ask about interest rates and down payments as well as hidden fees like taxes or registration costs associated with purchasing new cars versus older ones like yours which may already come with some extra charges built-in already.”
Buying a used car is not easy, but it can be cheaper than getting one new
Buying a used car is not easy, but it can be cheaper than getting one new. You have to do your homework and get all the facts before going into the dealership.
If you’re buying from a private party, make sure they have all the records of maintenance performed on their car. Check out its history with Carfax or similar services so you’ll know if there are any problems with it that aren’t immediately apparent in person (like an accident). If possible, bring along someone who knows cars–or hire one as an expert consultant!
When buying from a dealership: ask about warranties (most will offer one), price matching (to ensure you’re getting fair value), trade-ins (in case yours doesn’t pan out), financing options and more!
I hope that this article has helped you understand the process of buying a used car and what to look out for when buying one. It may seem like a lot of work, but if you’re planning on driving around or even just getting from point A to point B on your own, then it’s worth doing right!
