Margo Mya. Used Car. April 28th , 2020.
Price – How much are they asking for the car? Make sure you are paying a fair price – have a look on websites like Auto Trader to get an idea of what other sellers in your area are asking for the same car. Can you haggle the price down? Whether you’re buying the car as your main family car, or a little run-around, you want to make sure the car you are buying is reliable and dependable, and that you are paying a fair price. If after inspecting the car you are still unsure about it, the AA provide a Vehicle Inspection service where, for a fee, they will undertake a full safety check of the car to give you peace of mind.
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.
Ownership – how many owners has the car had? Generally the less owners the better, and if you are buying from the original owner they will be able to tell you everything about the car’s history. Be wary if the owner is selling after having the car for a very short time – ask them why they are selling. Also, the type of owner can indicate how the car has been driven. Are you buying it from a woman or are you buying it from a 20 year old man? Mileage – how many miles has the car done? Does it equate to roughly 10,000 – 12,000 per year? If it is much higher, be aware the engine will have suffered more wear and tear so try to haggle the price down. Service History – Does the car have a full service history? Ask to see the Service book and check the records and make sure each service has been stamped by a garage.
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.
You might think that’s still a bit old. Not all old cars are that bad. Within the last 10 years or so regulations have been put in place to control emissions and get better gas millage. Some car companies like Toyota or Honda have been doing this all along regardless of laws. For example I drive a year 2000 honda civic. Its not the pinnacle of ’green’ technology but think on this I get around 25-30mpg. This car is now 9 years old. Many cars today can just match that, and some can’t even reach that high of millage. It also has always passed California smog check and emission checks. California is notorious for its strict emission control standards. So if it can pass those tests it’s a good, clean running car. And since the car is quite a few years old it’s not going to be all that expensive, especially if its found at an auction where you say how much you’re willing to buy it for.
Pick Your Car And Prepare To Negotiate. Most cars are priced to negotiate. There is usually about 10-15% reduction in price available, so you need to haggle for it. Again, bring someone with you who is familiar with the car buying process and will help you bargain for a better price. Consider Conditioning The Car On An Inspection. If the car is more than a couple thousand dollars, or really, even if it is less, you may want to make the sale contingent upon a clean inspection. You will need to factor this inspection into the budget and it can run you up to nearly a thousand dollars. However, the headache and frustration it may save you in the long run makes it worth it. Close The Deal and Drive Off In Your New Car. Try to pay for your car in a cashier’s check instead of cash. It is the same thing, but it leaves a paper trail. Make sure you have agreed upon everything and have a bill of sale in writing. You do not simply want a word of mouth agreement because you then have no proof of the sale or any changes they agreed to make after the sale.
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.
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