If you’re shopping for used cars, it’s important to know what to look for so that you don’t get the wool pulled over your eyes. Let’s take a look at some of the top used car buying mistakes shoppers make and how you can avoid them.
Here’s What You Need To Know When Buying Used Cars
One of the best ways to save big on a vehicle purchase is by shopping for used cars. Unfortunately, shopping used often means you’ll need to be extra diligent during your vehicle purchase. All too often drivers make easily avoidable mistakes that can cost them big in the long run. Let’s go over some of these mistakes and what you should do to avoid making them the next time you purchase a used vehicle.
Do Your Research
Knowledge is key when you’re shopping for a used vehicle. Whether you’re purchasing from a dealer, or from a private seller, having the right knowledge on hand can save you thousands when it’s time to close.
Use tools like Kelley Blue Book to determine the value of the vehicle you’re eyeing. Knowing the value of a vehicle depending on its condition will help keep you from overpaying. Knowing the value will also give you negotiating power to help lower the cost.
Key factors that impact price include mileage, powertrain, package offerings, and any issues the vehicle has had. Knowing these factors allows you to determine the value of a used vehicle for yourself.
Know The History of a Used Vehicle
Every vehicle has a unique ID known as the vehicle identification number or VIN. Using the VIN number, you can use an online tool offered by the National Insurance Crime Bureau to look up your vehicle’s history through a free VIN check. Once you get a vehicle history report through the VIN check you’ll be able to determine whether or not the vehicle has gotten into an accident, what repairs have been made, and other essential information to help you make a sound decision. A Carfax report will also give you even more insight into the history of a used vehicle.
Have an Expert By Your Side
You should always do a quality Inspection of a used vehicle before you make a final decision. Inspect under the hood for leaks and other issues and be sure to step inside and inspect the cabin for signs of water damage. Of course, you should always take out a used car for a test drive just to get a feel for it too. Keep your ears perked up and see if you hear any odd noises as well.
If you’re not quite sure what you’re looking for, you can save yourself a huge headache and thousands of dollars by bringing an expert along. Whether it’s your mechanic or a friend who’s good with vehicles, having someone who knows what they’re doing it’s essential. Keep in mind that you don’t have to introduce your mechanic to the dealer or private seller you’re working with. A great used vehicle should be good enough to speak for itself.
Explore Your Financing Options
Purchasing a used vehicle can get costly, so it’s important to know what you’re doing. Much like purchasing a used car, having knowledge is power. Do your due diligence in researching rates offered by local lenders including mom-and-pop banks, and national chains. If you shop from a dealer, they will likely have financing options available. However, if you do your research, and compare quotes, you’ll have the ability to negotiate rates so that you’ll get a better loan and overall price.
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