Buying a used car is unlike shopping for groceries or furniture. There are good steps to buying a used vehicle from either a dealer or a private party. Every used car come with a unique identity, and I doubt you’ll be able to find two that look exactly alike. You need to decide how much you have to invest in a used automobile. The amount you have to spend will help determine the type of vehicle you can get. It is far better to finance a new car than a used one.
Steps To Buy A Motor Car
The two primary sources for a good used car is either through a dealership or a private seller. Both come with advantages and disadvantages. The tips included in this article are from real life experiences gained from buying five cars.
How to Buy A Used Car From A Dealership
In some states, used car dealers can operate from any type of location. A real auto dealer must have a location that contains several cars to choose from. Bigger is definitely not always better, but you might get a better deal from a larger outfit like CarMax or USA Auto Sales.
Before stepping foot into the dealership, determine how much you’re willing to spend, and your preferred make, and model. Do not let the salesperson know about your budget. You’re there to look around and compare different brands and models. If you’re a teenager make sure you have a job to ensure you can keep up with the expenses of owning a previously owned vehicle
Make a budget of how much you have to spend.
Research reliability of brands and the models you prefer.
There are online sites where you can get an estimate of true used car cost (most are just guessing as every used car is unique).
Determine beforehand, if you need financing or paying cash.
Carry your driver’s license with you (just in case you need to take a test drive)
Always keep in mind that the salesperson is not your friend, and most will do just about anything to make a buck. Lying comes naturally in that profession. Most will omit the truth to make the transaction a success. Keep that fact in mind, as you negotiate the details of any dealership used car transaction.
It is far better to buy a used car from a dealer at the end of the month. The dealer has inventory carrying cost, while the salesperson has a quota to meet. The bigger the dealership the higher the inventory carrying expense. Most dealers will accept certain deals when the month is about to end.
Now that we have carfax.com, you should never buy a used car without checking its history. Do not accept the dealer’s word for it, neither should you rely upon the vehicle history the dealership shows you. Get your own carfax report. When people work on a commission basis, not telling the whole truth is part of getting the job done.
A competent dealership will have cars that have been mechanically checked before offering them to the general public. But, it is your responsibility to do your own due diligence. Have a certified mechanic go over the major components of the car, regardless of any dealer warranty.
Once you sign and accept the delivery of the car, the responsibility of its upkeep is now yours. Read the details of any warranty offered to learn what components are covered. If it is not in writing, the component is not covered, regardless of assurances by the salesperson.
How to Buy a Used Car From a Private Seller
Another way you can acquire a used car is through a private seller. It needs repeating again, most people would lie convincingly when trying to make a buck. I can assure you that looks can be deceiving. Just look at our religious and political leaders to get the essence of what I am saying here. The burden of double checking the automobile is your responsibility.
There are many ways to find private sellers for any type of car you want. You should be vigilant for scams when buying a vehicle privately unless you know the seller personally.
Private sellers of used cars are known to misstate facts or lie by omission. Again, the looks and demeanor of the person selling the car should not be mistaken for honesty.
When you first meet the owner do not come with any major cash.
It might be better to meet him or her at their place of residence rather than them driving the car to meet you
Before taking a test drive, ask to see the vehicle insurance papers. If the car is not insured and you get into an accident during the test drive, you’ll be included in any lawsuit.
Never, ever, pay cash for a used car. Cash transactions do not leave any footprint. Pay by a bank or personal check, which helps create a buying record.
Make sure the person selling you the car is the true owner. Make a copy of all the identification cards presented.
Any lien listed on the title of the vehicle must be verified as paid in full. Locate the phone number for the lien-holder yourself, rather than dialing the number offered by the private seller.
Get the most current carfax report for the vehicle before paying in full.
Get your own mechanic to go through the used car before completing the transaction.
Never leave a cash deposit with a private seller. They just might vanish with your money.
Get the buying transaction in writing. Have the purchase agreement in writing with signatures from both buyer and seller. It will be wise on your part to get it notarized.
Should You Buy A New or Used Car
There are obvious reasons why I am not a fan of used cars. I hate dealing with lawyers, doctors, and car mechanics. A new car will serve you for several years before major components start to break down.
That used car you just purchased might develop mechanical problems overnight. You never know how the prior owners drove and maintained the vehicle. If you’re financing, it is better to get a new car than a used one.
Not only will you get a better interest rate, but you also won’t have any mechanical issues to worry about for several years. A good friend made a mistake of buying a used Mercedes Benz. I think she paid about seven grand, and she has spent over ten grand to keep it running.
It is a nice looking automobile, but the major components were constantly failing. She has changed the engine, transmission and some electrical parts. Mechanics love used cars because it is what keeps them in business.
In a Nutshell, you either pay the bank for the car loan or the mechanic to keep the used car running.
Other Articles on How to Buy a Used Car