How to Buy a Used/Old Car

Buying a new car is almost always much more expensive than buying a used car. Everyone knows that a car loses the most value in the first year. In fact the moment you drive the car out of the dealership, your car is now worth a lot less.

Let’s say you are a person desperately in need of a car. And, let’s just assume that you don’t have the dough to throw on a shiny, new car to drive around in (which will be foolish if you did). So what is the obvious solution? Buying a used car, of course!

So let’s get started on the best ways to go about buying a used car:

The One.

Avoid Shady Deals

When buying a used car, the dealer is the one person you should be able to trust, since he or she is clearly the one that is offering you the vehicle. Unfortunately, people are and will always be corrupt, especially when it comes to selling automobiles. In the market of selling cars, a huge slice of it is dealers that just want to grab some quick cash from innocent, first time car buyers who just want a vehicle. You can check reviews online to see if the dealer you want to buy the car from is a legitimate and honest person.  You should not go with your gut here. Another way to see if the dealer is legitimate is to ask if you can have the car checked by a repairman who will thoroughly look at the car (remember, NOT a repairman that works for the dealer). If the dealer rejects, do not take the car.

CARFAX reports are always a good idea, and only cost $25. One rule of thumb as old as time that definitely applies to buying a used car is “if it sounds too good to be true, it probably isn’t.” If the dealer promises what you suspect is too much for a used car, then maybe there is something the dealer is hiding. It’s not worth the headache you will get later from buying an over hyped car.

Which will it be?

Many cars are different in their own way, but you must decide which car is best for you. This is not important for people who have already chosen a car to buy, but for those of you who haven’t, read on. Would your fantasy car be a luxury sports car, or a roomy minivan fit for friends and family? Either way, make sure to buy the car that is right for you and the situation on your hands. Have kids? Don’t go for the two-seater. Live by yourself or with one other person? Don’t waste the money on a minivan.

Safety First

You don’t want to suffer an accident by buying an unsafe vehicle. Auto Safety provides great information about automobiles, and lists safety recalls, defects, and other stuff that would prove useful in your car shopping experience. Another way to be safe is to check the charts: which models are suffering the most accidents? If you see a pattern, don’t get the car. Better safe than sorry.

Money, Money, Money

Financing is an important part when buying a used car. Before purchasing the vehicle, check to see what your budget is. Set a price limit, and be loyal to it. Overspending is never good, especially with an automobile. Research your financing options, whether it’d be loans, direct deposits, or a secured financial plan set out by a third party company.

What factors do you look at when buying a car? Did you buy a new car or a used car?

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