5 Things To Ask Before Buying Your First Secondhand Car In 2017
People opt for purchasing a used car most of the time because it can save them a lot of money. While this is true, there are some setbacks to the cheaper price. Used cars are not necessarily of poor value and a lot of them have durable engines. The thing is, you have to know what to look at and where to look. Here are some tips that can help you:
How Much Am I Willing to Spend?
Before you even consider getting your first car, you have to figure out exactly how much you are willing to spend on the car. Do some research and be aware of the many costs involved in having your own car such maintenance, gas, parking and everything else.
You should also have an idea of how the transaction is going to roll out. Whether you get your car through a bank loan, credit union or directly through the dealership, you should see to it that such is achievable. Make sure that your budget includes some room for insurance, extra parts or inspections. “Always ask for a breakdown of fees. Don’t be afraid to ask if you don’t recognize a fee” says Ron Montoya, senior consumer editor at Edmund’s.
If you’re looking to buy now, you might be in luck because automakers are working to clear out excess inventory on small and mid-sized vehicles due to declining sales. In a feature by USA Today, it was revealed that average discounts per vehicle this year went up 5% to around $3,600. Average interest rates are also at their lowest in six months, with some sellers even offering zero-financing deals.
Inspect the Car Closely
Even If you ran a vehicle history report, it is still very important to have your car inspected by an expert mechanic so that potential issues can be spotted. This is the only way you can determine if there are some leaks or if the car has an unreported accident.
Some sellers do mobile checks, but it is more advisable to have a car expected in a shop where the mechanic can put the car on a lift to look for damage underneath the said car. When an expert sees the car from underneath, he can see the damage that is not apparent. This check can set you back for $50 to $100 but could save you a lot of money from repairs in the long run.
What Car is Best for Me?
That teenager in you might want that sports car with a really low chassis, but it might not be able to take on that rough road you are likely to drive in during weekends. A sedan looks nice, but an SUV might be able to meet your demands better. A lot of different types of cars are suited for many different lifestyles and this should be one of your primary considerations when getting your first car.
This is why it is very important to do your research. Some quick searches on the internet, as well as group discussions, will already give you some leads as to what cars are best suited for your needs.
Is It Covered by Warranty?
While brand new cars are required by law to be warranted, this does not apply all the time to used cars. When scouting for a second-hand car, you will often see the phrase “Certified Used Cars” and this means that such car is covered by the manufacturer’s warranty. However, you still have to be mindful since there are some cars which are advertised as certified when they are actually covered by a third-party warranty.
It is also important to be mindful of the “as is” sign on the car window. This means that the seller will not answer for anything once the car is driven off their lot since you bought it as is where is. While a dealer can promise to answer for necessary repairs, they are not responsible for it. If a car is around three years old or more, it is not very likely to still be covered by the manufacturer’s warranty.
Observe the Transaction Closely
When you have decided which car to buy, you need to go further than just shaking hands with your seller. You have to see to it that all the paperwork is on order and this includes the title, warranties, insurance and anything else which connects you to the seller.
While you might be tired to an extent at this stage, you should take your time. You do not want to be surprised by some problems later on after you part with your hard earned money.
Of course, you always want the best value for your money. If you take your time diligently in searching for your first car, you can get a good steal. What other tips can you share for those looking for their first secondhand car? Share them with us in the comments below.
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