Tools and Tips on Buying a Pre-Owned Car!
In a lot of ways, buying a pre-owned car is a smarter purchase than buying new. Being a savvy consumer, however, is even more important when buying a pre-owned car. Here we’ve included a selection of some of the best tips while researching your purchase and excellent tools to inform your buy.
Before you even start looking at pre-owned cars, you should first settle on a budget. But budgeting for a pre-owned car is a lot more involved than just deciding how much you can or want to pay. First, you should realize there are expenses associated with buying a pre-owned car that do not show on the sticker price. Tax, title, registration and insurance all cost money and neither private sellers nor pre-owned car dealers include these costs in an asking price. A good rule is to expect that associated expenses like this add about 10% above a car’s sticker price. So that $10,000 car is likely to cost you more like $11,000 before you’re able to get it on the road.
Another thing to consider with these costs is financing . Know your credit score beforehand, and if there are issues like mistakes on your credit report, fix them first before you look into financing. Also, check with your bank or a local credit union as to what sort of financing they would give you so you’ll be able to push back if a dealership tells you only higher interest loans are available.
Choosing the right car for you is another important step, and we’ve included some tools below to help you make that decision.
Ask questions! Once you’ve found a car that interests you, try to learn as much as possible about the car. Ask the dealer or the seller themselves: “why is the car for sale?” Also, ask them for maintenance or mechanical records and whether you can take the car to a private mechanic for an inspection.
You should also inspect the car yourself. Look out for places where the car has been repaired (paint overspray and non-magnetic body pieces make good indicators). Also look for uneven wear on the tires which is possible evidence that the car will need front-end alignment.
Remember, you’ll be with this car a lot longer than you’ll spend buying it, so don’t be in a rush! Visit with us here Yonkers Automall to find the right car for you!