Adelina Marion. Used Car. March 28th , 2020.
The days of spending hour after hour for days walking through car lots are all but gone. The modern car purchaser has many tools at his disposal. The chief tool is the internet. People can now watch videos to see reviews of cars from real owners and in some cases, they can see videos of the cars they are considering purchasing. The most popular use of the internet, however, is looking for cars for sale online. There are millions of searches monthly for cars for sale and specifically for no reserve cars. A no reserve auction means that the lowest current bid for the item wins. There is no reserve price that a bidder must bid above. People are looking for car auctions with no reserve pricing for two reasons. First, they are trying to get the best deal possible. If nobody else enters a bid, and the auction was listed for a very low initial bid, they can get great deals for potentially thousands below the value of a car. The other reason people look at no reserve car auctions is to establish a comparison price with other cars. They know that they shouldn’t just assume that a car has a great price because it is in a no reserve auction, but they can compare it to other cars for the best deal possible. It would be easy to assume that only private sellers are selling their cars online, but dealers are selling new and used cars online. Some of these dealers go the extra mile for the internet sale. For the modern car buyer, looking for best pricing on autos or looking for antique, classic, or exotic cars that are difficult to find locally, online auctions are a powerful tool.
There is a big concern these days about going green; caring for the environment. One of the biggest forms of pollution is cars simply because there are so many of them. Hundreds of millions of cars are running all day long, every day of the year. Some cars are newer and have better controls built in so they run cleaner and get better millage. However a lot of cars are still very old and run poorly. I’m sure many people would love to get a new car but a lot of times they are not affordable. Newer cars can be expensive. Newer ’green’ cars such as hybrids and natural gas cars tend to be even more expensive than your average base model car. So what can a person do to drive a newer car, get better millage, help reduce pollution, and save money? One answer, believe it or not, is to get a used car from an auction. Government auctions happen all the time and are a great place to find used vehicles. These used cars for auction are not your run down old junkers. No, they instead tend to be newer cars usually from within the past 10 years or less.
What do you need to remember when buying a car? Remember, it’s an investment, so make sure it is the right one. Most people tend to go for the look, the glitz, the engine and other such features. It is recommended to make an informed decision by taking all following aspects into account: Car History ==> Buying a used car can be difficult, and somewhat of a gamble. You can put the odds in your favor by knowing all you can know about the car’s history. This includes number of previous owners, if the car was involved in any accidents, any previous mechanical failures and its maintenance history. Ensure that car Odometer has not been tampered with ==> Simply look at the dashboards to see for marks, or if it is loose. This generally is a sign of tampering. Also look for service stickers under the hood or inside of the car. They will contain latest readings, and you can match them against the current read.
So when you see someone driving a new car just look at them to say silly!! Now when looking for a used car you need to decide what you are after, this sounds obvious but for many people this is not. Do you want a 4×4 or a people carrier maybe you fancy a sporty two seaters but maybe you just want a normal family car. Once you have decided on the car you are after you need to consider the budget you have, whether you take out a car loan or whether you pay cash you need to have a budget. If you are taking out a car loan then you need to consider how much you can afford to re pay on the loan and the best advice is you need to think if you can afford the repayments if you do not work. If you can’t then maybe you should re think your budget.
Buying a second hand car can be a big pain in the bum but with the right information and a little bit of guidance you can pick up a real bargain. A second hand car does not have to be a banger of a car it can be only 6 months old, so dispel any prejudices about second hand cars. Everybody likes a brand new car but if you think about it logically the people that buy brand new are losing a lot of money! When you drive a car off the forecourt of a car dealership the car will instantly depreciate in value and that is a really big problem. There is no exact figure about how much a new car will lose when it is driven off the forecourt but a reasonable guess would be 30% this is based on what I have seen in the past.
Now pretend that you keep your 2003 Toyota Camry or that you are the buyer this year that bought it for $6,000. You have no car payments, so if you get laid off from your job or have other temporary financial setbacks, there is no stress from the possibility of the car being taken by the repo man. Granted it’s a used car so we might need a little extra for repairs, let’s say $100 a month. You still need to get the oil changed and regular maintenance done on the car like the new car, but you don’t need to sweat over a few coffee spills on the upholstery or scratches and dings on the paint since you know the car will be worth little when you are ready to get rid of it anyway. Where will you be in six years if you sock away the extra $220 dollars a month in a rather lousy investment CD with a rate of one percent? You will have $16,000 in savings. That is surely plenty of money to buy another nicer and newer car.
So who is the smarter consumer? Who is on their way to being able to always buy nice cars? Just from one or two times abstaining from borrowing money to buy a new car a consumer can have the money in the bank to buy all their cars new, if they so desire. Also, after a little time of driving an asset they own free and clear, consumers may find they like the way that feels, even if the car does not look showroom perfect. They say there is an air freshener you can buy for that new car smell. Also bear in mind that our calculations did not take into account the amount you can save every year on ad valorum taxes and insurance for less-than-new cars.
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