For many people, having a car is an absolute necessity. You need a set of wheels to get around town to the places that you need to be. You may even depend on a reliable vehicle to actually make a living as a courier or driver. While a new ride might be incredibly appealing, buying used is often a wiser investment. It’s no secret that new autos depreciate considerably in the first year. For many would-be owners, it makes sense to buy a used car that is in great condition, giving you the opportunity to enjoy several years of reliable performance at a fraction of the cost of a new vehicle. Here are some things you should know.
Paying for Your Car
Even a used car, depending on its condition and features, can set you back a couple of thousands of dollars. You’ll need to figure out how much you can afford. If you have enough funds to buy a used vehicle with cash outright, that’s great. If not, you’ll have to finance your purchase with an auto or personal loan. Before you seek out car financing, figure out how much of your monthly income you can allocate to a car note. Experts suggest that you spend no more than 20% of your net income on a vehicle, but you’ll have to determine what works best for your situation. Keep in mind that vehicles require gas, routine maintenance and special repairs.
Deciding On a Vehicle
It’s important to determine the type of vehicle you need and the features that are most important to you. A tall or large person may need the space provided by a full-size sedan or another vehicle that has plenty of head room. If you plan to make money with your car through ride sharing, you may want to look for a vehicle that has great fuel economy. If you have a large family to transport, consider a minivan or SUV that comfortably seats several people. Once you’ve determined what you need and want, go online and look up reviews when it comes to reliability, safety and other details that are important to you.
Starting the Hunt
Now that you’ve decided on the type of vehicle and your budget, you now need to find used vehicles for sale. You can check the used car inventory of local dealerships, which may sell a variety of used autos, as well as ones that are certified pre-owned. Checking your local want ads may yield some interesting results. Consider leveraging the power of the Internet for your search. There are many online used car sites that aggregate inventory from dealerships, private sellers and car rental fleet. Many of these sites provide detailed info about the cars being sold saving you time and energy as you search.
Getting the Lowdown
Once you’ve found something you like, you need to do several things before you buy. First, you need to use the vehicle identification number to secure a history report which can alert you to potential issues such as a rolled back odometer or a salvage title. You’ll also need to do a test drive to see how the car performs and feels. Make note of the comfort and condition and be honest about whether it’s suitable for your use. Furthermore, consider getting a mechanic to inspect the vehicle and check for potential issues under the hood. Getting the lowdown on a car of interest helps you spot potential problems as well as provide insight for you to negotiate the best deal.
Buying a used car requires serious investigation. While you can save money with a used vehicle, it may come with problems and issues that aren’t readily apparent without a test drive, a history report and a condition inspection. Figure out how much car you can afford and how you’ll pay for it before you start your search.
