How to Buy a Used Car

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Female voiceover – How to buy a used car, it won’t be a bargain if you have to spend a tonne of money on repairs, so learn how to spot a lemon. You will need – time, patience and due diligence.

Step one figure out how much you can spend, either in cash or in monthly loan payments. Don’t forget about the cost of owning a car like insurance and maintenance.

Step two research the models you are considering, car information website will help you compare both the performance and long term reliability of various cars.

Step three locate a car that you want to check out, search used car lots, classified ads, car dealerships that sell pre owned vehicles and special used car publications and websites.

Step four – ask the seller about the general condition of the car including mileage extra features and whether services records are available. If you’re buying the car from an individual ask if he or she is the original owner and their reason for selling the car.

Step five – inspect the car and test drive it, you want to make sure that it performs well, runs smoothly and feels right. Don’t let the seller rush you through the test drive

Step six – find out if the car comes with a warranty, if a warranty isn’t included have a mechanical inspect the car for you. Let the seller know that the sale is contingent on a professional inspection.

Step seven – get a vehicle history report from one of the companies that sell them online. See if the vehicle has been damaged in an accident or flood and if the pedometer may have been rolled back.

Step eight – find out how much the car is worth by consulting online used car guides or visiting the library.

Step nine – negotiate. Using the market value of the car as a guide make an offer on the low end, Don’t be afraid to walk away. If you are trading in your car or having a dealership arrange financing negotiate the price of the car before you discuss trade in value and financing to assure you get the best deal.

Step ten – close the deal. If you are buying from a private seller make sure you get the title. Register your new vehicle with your states department of motor vehicles. If you are buying from a dealership they will handle most of the paperwork for you, just make sure that you read any contracts or paperwork carefully.

Step eleven – drive home in your swank new ride. Did you know on average new cars lose 15-30% of their value the moment they are driven off the dealers lot?