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Used Car Buying Guide: 6 Tips to Get the Best Deal

23 Jul , 2018  

For one reason or the other, you might find yourself in a position where a used car suits you more than buying a new one. This could be due to financial reasons, taste, preferences, or simply to take advantage of an attractive deal. Whether you’re buying the used car for personal use or for resale purposes, you don’t want to end up breaking the bank to make the purchase.

You also don’t want to find yourself with a wrecked or faulty car a few months or weeks down the line. You want to get the best deal!

Here’s brief buying guide with 6 tips to get the best deal for a used car.

 

1. Know What You Want

One of the greatest mistakes people do when shopping for a new car is approaching the dealership without even a rough idea of what they’re specifically looking for. It pays to get mentally prepared for what you specifically want beforehand. You’ll want to have a budget range in mind and ask yourself how big of a car you’re looking for.

Consider things such as fuel usage, engine/torque strength, preferred color, size, and such other factors. This information will be important when doing your research, which brings us to the next important tip.

 

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2. Do Your Homework

Start with your local area and try to inquire from friends, neighbors, and colleagues at work about the local dealerships they know that sell used cars. As a matter of fact, it might surprise you to find out that your next door neighbor is selling that SUV that you’ve probably admired for months. Visit a few dealerships for options and extend your research online too.

Once you have a couple of options listed down, start researching their true value on the market when new. You can use sites such as eBay, Craigslist, and Kelly Blue Book to research more on pricing for used and old cars too.

 

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3. Consider its Life and Have It Inspected

How old is the used car? Well, that’s an important consideration. Unlike other assets such as land and real estate property, cars depreciate with time. A car’s value can drop by as much as 50% within just two years. As a matter of fact, for most car models, values drop with time whether used or still new.

You’ll probably pay more for a car (same model) of the same model that has been used for 1 year than one that has been used for 3 years. However, a 2-year old car can be in a better condition than a 1-year old car depending on the level of care and service. This makes it important to have a used car inspected by a professional before buying.

 

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4. Multiple Quotes and Negotiate

Now that you know where to look and what to look for, it’s time to compare and contrast for the best deal. You will want to get a number of quotes from different dealers for the same car model to determine the one that suits you best. Look for dealerships with perks and bonuses, but beware of add-ons that may drive you to break your budget.

Approaching the negotiations with the company of a friend that is well-versed with cars can also be a good idea. Ask a lot of questions too.

 

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5. Request a Test Drive

You can’t afford to ignore car safety and the comfort. In case there’s an immediate problem with the car, you can notice it during a road-testing. Be sure to request a test drive before signing and sealing the deal.

 

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6. Consider Warranty

Most dealerships provide extended warranty as an optional inclusion in the total price of the used car. You can opt to buy your own extended factory warranty, which can be cheaper than the dealership’s extended warranty.

 

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In addition to the above helpful pointers, you’ll also want to do some research regarding financing. Nonetheless, the most important thing is to buy your car from a trusted dealership. http://www.adrianbrienhyundai.com.au/ can be helpful if you’re searching for a good dealer for used and new cars in South Australia and surrounding regions.

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