Used Car Buyer’s Guide
Used Car Buyer’s Guide
There are two very important reasons that motorist purchase used cars. First, many motorists cannot afford a new car. Secondly, a new car loses 1/3 of it value in its first year making the purchase of a new car unwise for many motorists. Many motorists consider used cars better quality. If you feel like you may be interested in buying a new car or want to research your options, check out our guide for new car buyers. With the advance in automobile technology the vehicles are lasting longer on the road. Also, there are some exceptional values to be found in used vehicle. 4DMV.com realizes the importance
Motorists may consider the purchase of a used vehicle for many reasons. Perhaps they have a teenager in the home that has is now driving. Perhaps their current vehicle is no longer reliable. Perhaps they want a larger or smaller car. Whatever the reason, once you decide to purchase a used vehicle there are factors that you should be aware of to make the process a well informed one. Make sure you are aware of any used car warranties the vehicle may or may not have, and make this an important part of your decision.
What You Need to Consider When Purchasing a Used Automobile
Determine your auto needs. Just as in the purchase of a new car, you will need to determine your exact automotive needs. If you have a young family and need a vehicle with more seating, then you will likely require a station wagon or sedan. If you have outgrown the family sedan then you may be shopping for a vehicle that is smaller and better on gas.
Once you have determined what type of vehicle you require, then next decide on the features and options that you want in your vehicle. Things to consider may include power windows, power steering, automatic or manual transmission, two door or four door, etc. Once you have an idea of the features and options that you want in a vehicle then you can be better prepared to get the used car that you want.
Determine Your Budget
There is no reason to begin shopping for a used vehicle if you don’t know the price range that you can afford. How much you can afford may also determine where you purchase the vehicle from.
When shopping for a used car, you have many resources. There are private party sellers, dealerships and online outlets. When purchasing a used car from a private party, it is very unlikely that they will consider financing the vehicle for you. In these circumstances cash will have to be involved or you will have to obtain an auto loan through a lending institute such as a bank or credit union. Car dealerships on the other hand will not only offer you a used car, they will offer you a loan in order to purchase the used vehicle. This is an area where motorists must be very careful. Credit ratings play a large role in determining the interest rate in which you will be offered a loan. If you have less than a favorable credit rating, then the interest rate on the loan will likely be higher than you might be able to obtain through a lending institute outside of the dealership. Once you have determined whether you need to secure a loan or whether you can afford to pay for the vehicle with cash, you will be ready to begin your shopping.
Remember, should you purchase a “fixer upper” then you will need to take the cost of repairs into consideration. You should have a separate fund for this.
Begin Your Search:
Just because a used car is less expensive does not mean that it is not a big investment. 4dmv.com realizes the value of the investment and the need for you to have the information you need to make the best possible decision in your purchase. Start by narrowing down your search. Decide upon three or four models that you are interested in and then begin your research on those particular models. The Internet is a great asset here. There are many forums on specific makes and models of cars where you can obtain unbiased information through owners of the specific vehicles.
It is also necessary to know and compare prices. Search for the high and low blue book value of the vehicle. Get an idea of what the vehicles are going for in your local area by searching the newspaper. Get quotes for the used vehicles through auto dealers. Having the knowledge of how much to pay is essential in the purchase of a used vehicle.
Take into consideration all factors of the used car. Its gas mileage, maintenance costs, safety record etc. to help you to determine the right used car for you. You will also want to be aware of the additional costs such as registration fees, state taxes and car insurance rates. This guide is not the only part of the car buying and selling process, check out the other guides we have here for you at 4DMV.com.
Once you have determined the used vehicle you would like to purchase perform a VIN Vehicle History Report on the vehicle. This will tell you the number of accidents the vehicle has been involved in, service records, and the latest odometer reading. You will also receive information such as whether the car has a clear title, how many owners the car has had, any recalls for the car and whether the car has been salvaged.
Used Car Warranties
One advantage to buying a used car through a dealership is you often have the option of purchasing additional warranty for the vehicle. With a private party you do not have this option. However, most warranties can be carried over to Many most warranties can be carried over to the new owner, so it is essential for you to find out exactly the life of warranty left on the used vehicle.