Buying a used car can be a smart thing to do if you are looking for a replacement vehicle. While new car purchases are on the rise, a used car can be a great alternative if you know how to pick the right one. Here’s a look at some mistakes you should avoid making when buying a used car.
Forgetting to Line up Your Loan Before You Finalize the Car
Before you zero in on a used car, whether that’s by contacting a private seller through a site like Craigslist or through a dealership, it’s important that you know how you will pay for the car. If you can’t pay for it with cash, you’ll need to consider getting an auto loan. So, check out the rates quoted by different lenders – banks, credit unions, and other financial institutions – and pick the most affordable loan.
Not Test Driving the Car
Did you know that as many as 20% of used car buyers don’t test drive the vehicle before they make their purchase? In comparison, people purchasing a new car for the first time test drive an average of seven cars. The thing is, you can’t really tell how well a car will handle or drive on the road unless you test-drive it. So, avoid making this mistake.
Not Having the Car Checked by A Professional
Even if you test drive the car and everything seems alright, it’s important to get the vehicle checked by a professional mechanic. You should do this before you finalize your deal. Even if you need to spend for the inspection yourself, doing this could save you precious money in the long run.
Making Initial Negotiations in Person
We recommend doing your research and then contacting the dealership/private seller via phone for the initial negotiations. It’s best to avoid doing the initial round for negotiations in person because when you are on the dealership’s property or at the private seller’s home looking at the car, you are a lot more likely to agree to the seller’s terms.
Buying Based on The Appearance of The Car Alone
It’s important that you assess exactly what your requirements are from the car before you make your purchase. Don’t just walk into a used car lot or dealership and check out the used cars that are on sale – you’re much more likely to purchase a car that is not suitable to your needs when you do this.