Practicality can go a long way, and at some point in your life, you may realize that spending so much money on assets with fast-depreciating values like cars is not as worth it as everyone said so in your younger years. Thus, one might consider buying used cars for the benefit of a lesser price for the same features as the brand new ones.
Although, buying used cars is as challenging as it is rewarding. Used cars for only one year can go up to 25% less than their original price on the first release, whilst enjoying the same features as those who bought it brand new. To assist, this guide will run through some tips on how to buy a used car with little to no risks before you decide to test-drive or proceed with the down payment.
Set Reasonable Expectations and Know Your Preferences
Manage your expectations and always keep in mind that you are buying a used car instead of a brand new one. This way, you are going to experience little to no disappointments when you see scratches on some corners and used brake pads. Expecting a blemish-free used car is simply unrealistic.
What you do need to check are the car’s features, type, and how well they are working. Knowing what type of car, you need will give you a narrowed-down catalog of cars to check out without having to go through those you are not interested in. For instance, crossovers would be good for large families or business deliveries, whereas subcompact sedans would be ideal for smaller families.
Know Your Budget
Be realistic with what you can and cannot afford, and keep in mind that you’re not only going to pay for the initial purchase but the following aspects as well:
- Registration and paperwork
Prioritize Needs from Wants
Now some extra car features may be tempting, however, you should always consider your personal need for it, and if it is worth your money. For instance, you might only need a vehicle to bring you to places and you want a specific brand for its unique shape and look. Would its look and shape matter in a few years after spending extra cash on it though? Most likely not.
Thus, you might want to consider the following to ensure that you obtain what you need, before proceeding to the wants that you can get that’s in line with your budget as well.
- Define how safe is reassuring to you and your family because modern cars now have tons of different safety features installed for their consumers, with some models having more than the other. Have a checklist for your need of any of the following:
- Anti-Lock Brake System
- Lane Departure Assist
- Back-up sensors and camera
- Automatic or Manual Transmission
- Entertainment System
- Leather or Fabric Seats
Do Ample Research and Know the Right Questions to Ask
To avoid fraud or any complications along the way it would be best for you to be knowledgeable enough on the car’s features, thus it is best to do some ample research given the possibility that some dealers may or may not know much about the car either. Some other relevant questions you may consider asking before purchase would be as follows:
- Owner/s’ profile and vehicle use
- Did the owners keep pets?
- Did the owner/s’ smoke inside?
- Issues of any sort
You should also make sure to check service records, how the mileage was accumulated, the presence of correct paperwork, the original Certificate of Registration, and the official receipt. Do make sure also that upon purchase, you receive the deed of absolute sale, proof of vehicle clearance, and the insurance company endorsement.
And that wraps up the guide to buying a used car, and with this, you should now be ready and get one for you, your family, and your business’ convenience.