Guide To Buying A Used Car
When it comes to purchasing a used car it can seem quite daunting with not only the choice of vehicles available but also ensuring that you get everything right when it comes to making the final decision. The guide below will hopefully make the whole process a lot simpler and enjoyable!
1. The first thing to do before beginning your search is to make a note of your requirements. How much space do you need, do you need a car that is economical or are you looking for something with a little more power. Once you understand your requirements you are ready to start looking.
2. Owning a car comes with its costs and therefore it is important to take this into consideration. There is depreciation to think about as this is largest running cost and also make sure that you price up insurance, road tax and fuel economy. These are all things that can make a well-priced car become expensive instantly.
3. It is always a good idea to draw up a shortlist of the cars that you would be happy to own, but remember it is always good to keep an open mind as a car that you maybe once disregarded could come at a bargain price. Search online, in local papers and in magazines to get a feel for the price of the cars that you are interested in as it will enable you to understand what you can get for your budget.
4. However, how do you know if the price advertised is too high or too low? The true price of the vehicle can be easily found by using an online valuation tool. In seconds it will give you several valuations based on the condition of the car as well as other determining factors, but it can arm you with the information you need to make the right decision.
5. Many people opt to go to a dealer when it comes to purchasing a car but it is vital to understand that private can offer more. When you purchase from a dealer you will often pay more for the vehicle but it would have been checked and it will come with a warranty. However, purchasing privately requires a bit more investigative work on your part. Private prices are lower but cars are ‘sold as seen’ which means that there is very little legal comeback should you have problems.
6. Ensure that you carry out a history and finance check. This will show whether the car you are interested in has any outstanding finance or whether it has been stolen or written off. This can be done quickly online.
7. If you have found a car that you like and you have given it the once over as well as taken it for a test drive it is time to negotiate the price. Dealers and private sellers will be able to lower the price but when it comes to negotiating look at things such as the MOT and tyres to use as a haggling tool. Worn tyres and a short MOT will mean that you will have to spend money on the car shortly after purchasing it. The most vital part of this process is giving yourself a budget and sticking to it. You may feel that you have found the right car but you do not want to pay over the odds for it. Once the price is agreed, write it down so that everyone is clear.
9. Finally, you have to pay for the car. Usually, the cheapest way is to pay cash up front. However, not many people have that luxury and therefore have to arrange finance. Once again, do your homework and find out the best finance rates.
If the following guide is followed, it will ensure that you are armed with all the right information that will enable you to buy the right car at the right price. Purchasing a used car does not have to be stressful, in fact it can be a lot of fun!