Sometimes buying a new vehicle doesn’t make sense for your family. Thanks to the drastic depreciation of new cars when they’re pulled off the lot, used cars are often a cheaper option. But how can you know you’re getting a good deal? And how can you be sure that the vehicle is reliable? This checklist will help you shop with confidence.
1. Make a budget.
Decide how much you can afford, whether you’re buying the vehicle outright or looking for financing. Keep in mind that used cars are usually financed at a higher rate and factor that into the final price. Stick to your budget and don’t buy on impulse. Walk away and keep looking if a car isn’t priced right. And this is the perfect time to practice your trading skills! Even if it makes you uncomfortable, most sellers expect to haggle a bit and it can save you a lot of money.
2. Do your research.
Before you go to a car lot or meet a private seller, you should research the best models in your price range. Find out what prices people pay in your area to see if you’ve found a good deal. Plus, research the most common problems with popular models and find out what warning signs to look for. Then take your time shopping.
3. Take it for a test drive.
Once you’ve found something you like and fits your budget, it’s time to take a test drive. Are you comfortable getting in and out of the vehicle? Do you have enough room for your head, elbows and legs? You’re likely to be spending a lot of time in the car, so make sure you’re comfortable. Also, take the time to inspect the vehicle carefully. Look for any signs of an accident, check the tires, and make sure the lights, signals, and air conditioning are in good working order.
4. Get a mechanical inspection.
Even if the service engine light isn’t on, used cars can have serious problems hiding under the hood that you might not be able to spot during a routine test drive. A seller must be willing to let their mechanic look at the vehicle, otherwise beware of a shady deal. If your mechanic finds a minor problem, the seller may lower your asking price. But if the problem is serious, you should probably find another option.
5. Get the documentation.
You should never buy a car that does not come with a clean title. Ask to see the title and registration before handing over your payment, especially if it’s a private seller. For your protection, you should also request a bill of sale. Once you own the vehicle, be sure to sign the title and update the tags and registration. Then drive your brand new vehicle all over the city!
