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Guide for Buying Used Cars

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Decide on a right car

Deciding between an old or new vehicle is a tough decision, but basically, what makes it come down to buying used is budget. You need not sacrifice the quality of the car to get the best value for your money, but still it will be more on getting what you require than getting what you want. If you can ignore minor issues like appearance, you can actually pick up a treasure for half the price you would’ve spent.

Perform research on the make and model you are eyeing

If there’s already a make and model in your mind, most of your time should be spent researching about it. Read reviews from other users and find if there are any serious issues with the vehicle you have to know about, so you can avoid having problems in the future.

Figure out payments

When computing for payments, it’s not enough to look at the price alone and the monthly installments. You should also consider how long you intend to keep the car, and how much you would probably spend for its maintenance compared to a brand-new vehicle. You should also determine how much can you spare given your budget. More importantly, consider buying the car outright to eliminate future monthly expenses.

Determine how much you can pay

Even if you’re just buying a used car, there are lots of financial factors to consider. You need to think about the down payment that you can afford, and how much can you throw in for monthly payments. You should also consider insurance premiums, fuel, repairs, and maintenance, which vary greatly depending on the vehicle.

Choosing your financing option

You might find banks and other institutions that offer financing options for used vehicles. Typically, you can get the lowest deals from banks, although not necessarily. Just because your bank approved you for financing doesn’t mean you have to start searching. You can directly head to the dealership and possibly work out a better offer, especially if you inform them of what the bank is willing to provide. If you have good credit, you are in stronger position for negotiation.

Ask questions

Now is the time to get nosy. You’ll be making a very important purchase, so it’s fine. Make sure you get as much history as you can about the vehicle, like previous owners. Request for a detailed vehicle history report. Ask for records to prove that the vehicle is not stolen. Gather all the paper work such as MOT, V5 document, and service history.

Perform test drive

This is very important. You might spend a good number of years with your car so it’s important you ensure that it is working as needed. Test drive it on different roads, listen for engine noises, rattles, or squeaks. Check the brakes and test acceleration levels. Check the tires and if the suspension is even. Make sure the ride feels comfortable. Not everyone is a mechanic, so if you’re in doubt about anything, make sure you bring a trusted mechanic with you to inspect the auto.

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