Buying a car is an expensive affair, but you can save cash by getting a used vehicle instead of a new one. More car buyers are now getting used vehicles in order to save money. Statistics show that in 2020, about 39.3 million units of used cars were sold. That same year, only 14 million new light trucks were sold. If you are thinking about buying a used car, here are some pointers to help you get the best deal.
Set a Budget
Before buying a car, you need to set a budget. A budget helps you narrow down your choices so you only focus on cars you can afford. On average, the price of a used vehicle is $28,000. Before you start shopping, write down your budget and all car buying-expenses. You need extra money for taxes and licenses. If you don’t budget ahead of time, you are more likely to surpass your spending limit.
Know Your Needs
The car you buy should align with your needs and lifestyle. Ensure that its features are useful to you. For instance, if you need a family car, you should go for a minivan or an SUV. Consider your family’s size, pets, and your activities before selecting a vehicle. And whether you are shopping online or at the dealership, compare different cars and find out their performance and features. Once you find a used car that fits your needs and preferences, contact the dealer.
Don’t buy the first car you come across. Once you have identified a car, visit different dealerships to find out its retail price. When shopping, you’ll come across many used cars for sale, but it’s important to buy from a reputable dealership. Look for a good dealership with great deals. You can visit the dealership in person to inspect the car and test drive it. This will help you know whether the vehicle meets your needs. If you want to know more about the vehicle’s technical details, you can go with a mechanic to advise you.
Negotiate the Price
Most dealerships offer discounts, especially on used cars. Dealers are more honest about the car inspection status because they are governed by state and local regulations. In addition, you might get offered a 30-day warranty. You can easily negotiate a lower price when buying a used car. Ensure that you have an initial offer and quotes from other dealers before making a counteroffer.
Take Your Time
When buying a car, don’t be pressured into buying one that doesn’t fit your needs. Ensure that you are okay with the car and the financing terms before committing. It’s common for car salesmen to pressure buyers, but don’t give in. Take your time and ask a lot of questions—until you are comfortable that you’re making the right choice.
Used cars are quite affordable, but it’s important to take your time when buying one. Use these tips to do your due diligence before spending money on a car.