Hi guys! For most of you reading this article am sure you might be looking at buying a used car sometime in future, in this post we have highlighted a couple of things you should know or do in other to make a successful purchase.
1: Your budget
This is a very important factor you should consider when buying a used car. Once you have a budget set up for your car, you should also consider the source of the funds; in a situation whereby you are getting a loan, you should make sure your pay back should not be more than 20% of your income or less. Since it’s a used car you should also keep in mind that you will incur some extra maintenance or repair cost from time to time.
.2: Vehicle Comparison
Since you are getting a used car, you should take your time in selecting the right car, a good rule of thumb is to have a list of some vehicle brands you might want to choose from and run a comparison test. Some brands are cheaper than others and some car’s spare parts are cheaper than some as well. For example; Japanese used cars are relatively cheaper than British or American cars. You can save considerable amount of money going for Japanese vehicles.
While comparing your preferred vehicles, you should also consider some of the factors below:
- Does the car already have CPO?
- Check what others are paying to buy your brand.
- Cars located around your area are easier to inspect and test drive before payment.
- You should also check the vehicle History
- This is a very key aspect when purchasing your car, if the car has a awful history its best you know about it from the onset in other to make a wise decision about the purchase, so that you wont be caught of guard in future.
3: The Seller
At this point you must have gotten a car of your choice now is time to contact the seller in order to establish a relationship and inquire more about the vehicle also to know the best time for vehicle inspection. You can ask questions about the history of the vehicle and why the seller is selling the vehicle so as to guide you in making you final decisions.
4: Test-Drive
When test driving your car, at this point this are what you need to check:
- The mileage
- Engine performance
- Car’s condition
- Leg space
- Check engine light on
- Check tires
- Braking system
- Air conditioning system
- Tire condition
After the test drive, ask the owner or dealer if you can see the service records. These will show you if the car has had the scheduled maintenance performed on time.
5: Bring a mechanic to inspect
If you like the car, consider having a mechanic inspect it before you buy it. By doing so he can alert you to problems you may not find yourself. After inspecting and your mechanic gives you a go ahead to purchase you can now negotiate for a good deal with the seller.
6: Paperwork
At a dealership, you’ll sign the contract in the finance and insurance office. There, you will likely be offered additional items such as a warranty, anti-theft devices, prepaid service plans or fabric protection.
Some people want the peace of mind that comes with extended warranties, so this is something you might want to consider unless the car is still under the manufacturer’s warranty or is a CPO vehicle. Review the dealership sales contract thoroughly. In most states, it lists the cost of the vehicle, a documentation fee, possibly a small charge for a smog certificate, sales tax and license fees.
If you are buying a car from an individual owner, make sure the seller properly transfers the title and registration to you. It’s important to close the deal correctly to avoid after-sale hassles. Before money changes hands, ask for the title (which is sometimes called the pink slip) and have the seller sign it over to you. Rules governing vehicle registration and licensing vary from state to state. If possible, check with your local department of motor vehicles to make sure there are no past-due registration fees you’d be responsible for should you buy the car. Whether you buy from a dealer or a private party, make sure you have insurance for the car before you drive it away.
Once you’ve done the paperwork, it’s time to celebrate your new
Reference: Ronald Montoya