how to buy a Used Car
A person who cannot afford to buy a new car can always move ahead and buy a used car.
Buying a car no doubts requires a lot of money but that does not mean that only rich can buy it. Always remember the success of buying a used car is to do your research before you buy it.
You will have to prepare yourself for all the stress if you are looking for a perfect deal. Make sure that you are with the best used car dealer who will ensure you the best deal. You need to go through the following information before buying a used car.
1) Always decide the budget you can afford to buy the car. Since you are buying the used car always include price of the Car, repairs and maintenance cost of the car, Car insurance and so on.
2) Decide the Car you would like to buy. The best option would be to go for a mid-sized car as these cars are available at great bargains.
3) Used cars may be covered by a manufacturer’s warranty or a separately purchased service contract. However note that they may not be transferable. Always make sure to go through the warranty or service contract before you buy any used cars.
4) You can also take a test drive of the car and check its efficiency and comfort. It would be more preferable if you take a test drive on different types of roads. Have a drive for at least 10 to 15 miles to ensure the smoothness of the car.
5) Find out how old is the car you are going to buy. Try to buy a car which is two or three years older. Buying a two or three years older car would probably be a great deal as this will give you an opportunity to drive the latest model. It would be asking for trouble if you decide to go for a much older car.
6) If you are not 100% satisfied by the car avoid buying it. Don’t just buy a car since it is cheap as this might turn into a big expense in the long term.
7) It would be advisable to get the car inspected by the mechanic you hire. If you neglect it, you will have to pay everything for the maintenance once you buy the car. A mechanic can put the car on the lift and can immediately identify any previous damages, corrosions and so on.
8) If you are buying a 4 to 5 year old car it would be advisable to get the warranty period extended. Else you will have to bear the brunt of heavy losses.
9) Every dealer has a price in mind below which they will not sell you the car. The dealer is ready to reduce the price of the car till this price point and yet manages a decent profit.
However if they find a particular buyer inexperienced they take advantage of such buyers and gladly make a very good profit. Hence it is very important to educate yourself thoroughly before going to a car dealer.
Choosing A Used Car Auction To Attend: Factors To Consider
Are you looking to buy a used car? If you are, your first thought may be to drive around your neighborhood or check out your local used car dealerships.
While these are both great ways to go about finding a used car to buy, did you know that you have another option as well? You do and that option involves attending used car auctions.
When it comes to attending used car auctions, you should be able to find a large number of auctions to attend. It is not uncommon to find auctions that specialize only in the selling of used cars and then there are other auctions where a wide range of items are being sold, including used cars.
Of course, the decision as to which used car auction you would like to attend is yours to make, but you may want to take the time to find the perfect used car auction to attend. Doing so may actually end up saving you a considerable amount of time and possibly even money.
When looking for a used car auction to attend, there are a number of important factors that you will want to take into consideration. One of those factors is the type of auction.
As previously mentioned, there are auctions that only auction off used cars and then there are others that auction off used cars, as well as a number of other items. It may be in your best interest to attend an auction that focuses solely on used cars.
When an auction focuses just on vehicles, you are likely to get a larger selection of used cars to choose from. In fact, it is not uncommon for a specialty used car auction to contain as many as fifty or even one hundred used cars!
Another factor that should be taken into consideration, when looking to find a used car auction to attend is the cost of doing so. In the United States, there are two different types of used
car auctions that you can attend. There are those that you must pay a fee to enter and those that are free. You may want to think about sticking to used car auctions that are free to attend. When doing so, you are less likely to feel pressured into buying a used vehicle.
Also, used car auctions are nice, but you are not guaranteed to find a used car that you want to buy. By only targeting free used car auctions, you are able to walk away free and clear, without having to spend any money, should you decide not to buy a used car.
Inspection is another factor that should be taken into consideration, when looking to find a used car auction to attend.
If you were to buy a used car off the street or from a used car dealership, there is a good chance that you wouldn’t do so without getting a good look at the car first; right? The same should be said for used car auctions.
You will want to try to find a used car auction that allows you to closely examine or inspect all of the cars that they plan on auctioning.
Many used car auctions require that you do so the day before or at another predetermined date and time. If you are planning on attending a used car auction, it is advised that you clear your schedule and attend an inspection session if one is offered.
In addition to being able to inspect all used cars before a used car auction, you may also want to find a used car auction facility that gives you information, ahead of time,
about the used cars that will be auctioned off. Should a used car auction facility provide you with this information, it can likely be found on their online website and it should be free to access.
Although it is not always offered, those who do provide information about the cars that they will be auctioning off often include pictures of the vehicle in question, as well as generalized information, like the vehicle’s make and model and the mileage.
As it was previously mentioned, the decision as to which used car auction you attend is yours to make. In fact, you may even be interested in attending more than one used car auction.
That decision is yours to make, but you should know that taking the time to find the perfect used car auction is likely to increase the chances of you being able to find the used car of your choice and for an affordable price.
Thinking about a used car extended warranty? Nervous about what’s under the hood? Used car dealers are feeling your pain all the way to the bank. In an ironic twist, “pre-owned vehicle” dealers have found a way to profit from their bad reputation.
No, they’re not just selling overpriced used car extended warranties anymore. They’re charging a 10%-25% markup on used cars “certified” (by them) not to be pieces of junk. The accompanying
“certified” used car warranties in fact usually carry much less protection than the best used car warranties, which you can buy yourself online. Who needs a used car warranty if your jalopy is a “certified” machine?
But even paying 10%-25% more won’t eliminate risk. Thorough extended warranties for used cars are necessary, “certified” or not. In some cases,
a half-hearted inspection means the certification may not be worth the paper it’s written on. Used car problems often only appear months or years after purchase. That’s why even for mint used cars, used car extended warranties are essential.
Worse, “certified” used cars don’t always come with any extended used car warranty coverage. When a “certified” used car warranty is included, it usually has much less coverage than a new car warranty.
Even most standard pre-owned vehicle extended warranties offer much more protection than most “certified” used car warranties.
You can almost always do better on your own. An independent inspection and a used car extended warranty provide better peace of mind, often at a lower price.
Certified Used Car Inspection: Used Car Extended Warranties Still Needed
The cornerstone of a “certified” used car program is the supposedly super-thorough inspection. There are good reasons to think that the inspection does not replace an independent inspection or used car extended warranty coverage.
*Are inspections really added value? Don’t you wonder why dealers aren’t inspecting all their cars before taking delivery themselves? Car dealers aren’t idiots, at least not with cars.
Anyone who’s had to haggle over a trade-in knows that. The big question is whether the dealership will disclose everything it knows. Trust is still an issue with “certified” cars.
*Certified by whom? Think about it: the same people who are trying to sell you the car are also “certifying” it. Yes, you read right: the “certification” is usually done by the dealership selling the car. If there’s any manufacturer oversight, it’s often just an occasional inspection of the dealer’s inspection.
*Duplicate inspection. You should have any used car, “certified” or not, thoroughly inspected by an independent mechanic. You’re up against an industry that demonstrates about as much trustworthiness as, well, used car dealers. Do not give up your first line of defense.
*Limits of inspections. No inspection in the world can foresee every possible problem. Oftentimes, something that breaks a few months after purchase really was fine when the car was sold–or was virtually undetectable. When–not if–something gives out, you’d better have a used car extended warranty.
“Certified” Used Car Warranty Coverage under the Hood
The implied selling point of “certified” used cars is they won’t break. That kind of makes used car extended warranties seem unnecessary.
Naturally, some buyers may wonder what will be happen if something does break anyway. In order to ease those inquiring minds, “certified” used car warranties often come included, or are at least implied.
Sadly, too few people will inquire further about what the “certified” used car warranty covers.
*Does certified mean “under warranty”?
Not necessarily. The major manufacturers’ “certified” programs usually include some extended warranty protection.
But oftentimes, “certified” cars sold outside of manufacturers’ programs do not come with any extended warranty coverage. If it does break, tough luck.
*How good’s the warranty? The GM Certified Used Vehicle Warranty is only for 3 months or 3,000 miles! Ford offers longer “certified” warranties.
But they generally aren’t bumper-to-bumper, covering only the “power train.” Forget about the little extras like the roof or the doors.
Right off the internet, you can buy extended warranty used car coverage that is generally bumper-to-bumper and lasts several years.
“Certified” Used Cars: Extended Warranties Still Needed
“Certified” used cars offer two things: an inspection and a used car extended warranty. Arguably, neither is worth the price.
*Inspection. Let’s face reality. The junky used car problem doesn’t exist for want of dealer inspections. Lemons get sold for one of three reasons. a) The defect did not show up in the dealer’s own inspection. b) The dealer is trying to sell a car whose defects were already known.
Or sometimes c) the buyer knows about the defects but is guilty of wishful thinking. In none of these cases will a “certified” inspection provide the protection of an independent inspection and extended used car warranty.
*Warranty. A “certified” used car will often cost 10%-25% more. For a $10,000 used car, that’s $1,000-$2,500. An extended used car warranty from an independent auto warranty company will often cost about the same.
But the best used car warranties will provide a lot more protection than “certified” used car warranties. Given that fact, you may end up getting an independent extended car warranty anyway.
Worst of all, certified used cars come with an expensive risk. They tempt you to let your guard down. Ford even issued a press release headlined “Pre-Owned Vehicle Program Reduces Customer Buyer Beware.” As if that were a good thing.
Of course, in the end, you may buy a “certified” used car anyway. These days it seems there are fewer and fewer used cars that aren’t “certified.” Just make sure to get an independent inspection and an independent used car extended warranty. “Certified” or not, it’s still a used car.
Used Car Loan
When it comes to a used car loan, there are quite a number of concerns. You may asked yourself,”How can I sell my used car to a private party if I don’t have title?” or “How do you finance a car from a private person?” as well as many other questions.
Many people ask how they could have a used car financed? When applying online, it will only take minutes. After you receive an emailed check from the online loan company, you can choose to buy a used car from a private owner with very little hassel.
Some companies offer used car loans for buying from car dealers as well. You can apply online and you can get approved in an hour.
Here are some useful tip when surfing the net for a used car loan:
1. To qualify for a used car loan, make sure to keep your credit score to at least 680. People with bad credit pay higher car loan interest rates. A used car loan wouldn’t be any different.
Get hold of your credit report online. Never apply for a car loan , much less for a used car loan, unless you get your credit report with credit score first.
Depending on other factors, a high quality lender like some finance companies or banks do, can approve used car loans for people with scores as low as 540.
2. Never pay cash for a deposit on a car – even if it’s a used car loan you’re relying on to pay for it or finance it. You can dispute purchases made with your credit cards. But without proof of the transaction, you can be taken advantaged of by swindlers.
3. Shop for auto insurance costs for your used car along with your used car loan. Before you shop armed with a used car loan, get auto insurance quotes to find out how much it will cost to insure it. Auto insurance sites give free online car insurance quotes.
4. Get an extended warranty for your used car. Unless you have an extended warranty, you are exposed to potentially large losses, which would be huge drawbacks on your used car loan.
Before deciding on a used car loan, better ask yourself these questions:
What are the drawbacks of a used car?
What are the benefits of a used car?
Think twice: A used car could have a listed maintenance and repair history.
Used car warranties often are available at extra cost.
The maintenance costs get higher as the miles on the vehicle climb toward 100,000.
There are not as many safety and convenience features as newer vehicles have.
A used car, however, will be significantly cheaper to buy than going with a new model. It has comprehensive and theft insurance and costs are likely to be less.
After weighing the pros and cons, you can decide if a used car loan is for you.
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