So — you’ve decided to buy a used care. Most people are advised to buy cars used rather than new in this day and age, and with good reason. One of the main reasons why people prefer to buy used cars is that used cars are less likely to lose a significant amount of value after being bought. In some cases, they can even gain value. A brand new car, on the other hand, immediately begins to lose value after it leaves the lot. For that matter, brand new cars are usually far more expensive than the typical used car. With that being said, used cars still aren’t cheap. It can be difficult for some people to gain the funding they need for their car, especially when they don’t have the “right” type of credit. With that being said, even before you start saving for a car, you need to make sure that the cars you’re looking at are worth the money. This is why many people use car finder sites and apps to help them compare the stats of the car they’re considering to its value. A car shouldn’t just be viewed as a utilitarian necessity; it’s also an investment. Even if you don’t end up one day gaining money or value on the car you’re buying today, you don’t want to lose much. With that being said, below are some of our top tips for approaching used cars for sale.
1. Don’t Buy A Car That’s Too Old
This may seem like a paradox — you shouldn’t buy a car that’s too old, but you shouldn’t buy a new car either, right? Unfortunately, you do have to be rather picky when searching for a vehicle at a used car dealership. You shouldn’t go for the first car that seems like a great deal, and don’t think that shooting for a significantly older car will save you money in the long term. After all, you don’t want to be dealing with mechanical failures every few months or so. If you’re looking for a car that’s under five years old, you should aim for something that’s certified pre-owned, or CPO. But at the same time, you should be aware that most banks will not give you a loan for a car that is older than four or five years old. When using a car finder tool, you should therefore restrict your search to cars under five years old. While the price may be steeper, you likely wouldn’t be able to afford a car much older without a bank loan — and you want a car that’s reliable.
2. Talk To Your Dealership About Financing
Most often, people use car finders to search for cars that are under $5,000. Most of us just don’t have a lot of money to spare on a car. At the same time, it can be difficult to secure a bank loan under some circumstances, often because your credit isn’t exactly what the banks are looking for. Luckily, dealerships are ready to help with this. Most dealerships today offer a “one-stop shopping experience” in which they help consumers secure financing. A typical dealership will work with 10 or 15 different banks or finance companies to ensure their ability to offer the best possible deals. Some car finder apps or sites even list whether or not a dealership can help you finance your car. So if you can’t get a bank loan on your own, that doesn’t mean you can’t get a car.
3. Get The Warranty If You Can
Some dealerships offer warranty deals with their cars. You should take advantage of this if you can. A warranty can make it much easier for you to have your car repaired when necessary. For that matter, lots of people find that a warranty acts as a safety cushion. Since you’re more easily able to make repairs without worrying about the extra cost, you take better care of your car in the long term.
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