Buying And Selling Used Cars: How To Get The Best Deals
In the fast-paced world we live in, owning cars is an essential necessity in life. With a car, you can manage your life easier, and more efficiently.
New car buyers usually buy their car in used car dealership to save money.
Most people consider getting another used car and usually sell their first car.
Here are some tips to get you started in buying or selling used cars and in the same time, getting the best deal possible.
Used Car Buyers
The first thing you should consider when buying a used car is how much you are willing to spend. Knowing what you can and cannot afford is the first step when buying used cars. Saving money is mainly the reason why most people buy used cars. Another reason is that they want a specific model of a car but cannot afford to buy a brand new one. To get the best deals possible you should research, and research some more.
To know how much you can afford you should first figure out your monthly net income. To get the exact figures, you have to first get your total monthly gross income then, deduct all of your monthly expenses like; groceries, insurance, rent payments, mortgage, etc. the result will be your net income.
After you figure out your monthly net income, you should ask yourself:
• How much am I willing to spend on a car?
• How much is the down payment?
• How much can I afford on monthly payments?
While calculating these three important numbers, you should also consider the cost of fuel, registration and insurance. Find out if the vehicles you are interested in are still capable of giving many a good mile to gallon of fuel ratio.
Contact your insurance company to know how much your monthly payments will be on each of the cars you are interested in. Give considerations if the vehicles have safety features like airbags, and anti lock braking system or ABS. Insurance companies usually give discounts if the car has these features.
The biggest disadvantage to buying a used car is the lack of warranty. Private sellers often do not include any warranty on the car they are selling. Another problem when you purchase a used car is the risk of buying a junk.
You may have purchased the car for a very low price but you could have bought a car that will drain your money on maintenance costs.
It is always wise to inspect the car thoroughly first before deciding to buy it. If possible, try to find out about the car’s history. Get some of the car’s service records for you to know a bit about the car’s history.
Selling Used Cars
Selling your old car can prove difficult and time consuming. Most people who tries to sell their used car often gets tired and will just trade it in or sell it in a very low price.
Here are a few tips on selling a used car to get you the best deal possible.
Once you decide to sell your old car, the first thing you should do is set a price for it. To help you with the actual value of your old car in the market, research the car’s make and model in the internet or in your local used car dealership. Ask around.
After you figure out the market value, find out how many vehicles that are similar to yours are in the market, then, increase the price of your old car just a little. This can be helpful when a buyer tries to haggle, which they often do. This gives you an allowance for haggling.
The next step would be evaluating your vehicle. List down your old car’s accessories and other added expenses. This would be a good way to further increase your vehicles price.
You should also include in your list about the condition of the vehicle. The better the condition the faster it sells. You should also present you car’s service records to the buyer.
A service record is a good way to know about the car’s history. If your old car’s service record were clean (no accidents, good maintenance) it would sell faster.