If you’ve decided to buy a used Car, you’ve already made a smart decision. You can get a Car that’s almost as good as a brand new one without paying for the depreciation that wallops new Car buyers as soon as they drive the Car off the lot. Even cars that are only a year old are 20-30 percent cheaper than brand-new cars. Now there are certain factors which you need to consider when you purchase a used Car.
• Research the Car
When you have set your mind on a particular Car, make sure you research all you can about that Car. Research would help you make a smart buying decision this means that your decision won’t be haphazard.
The factors which you might have to research into would be the different dealers who might be selling the Car you wish to buy, at what price are they selling it, what is the condition of the Car, at what price will you get it after taxes and other expenses etc.
• Design Car comparison matrix
This is a method which you could if you are undecided about a Car and need to make up your mind on which Car should you buy. Car comparison matrix works in a manner in which you will have to make rows which will list the cars you are interested in and with them make columns which have features such as the price, rating, road safety, year, mileage, color etc. At the end of the day when you’re done searching, you could sit and analyze which Car suits your needs the best.
• Set a price
This is another factor which you need to keep in mind. For this you might have to keep in mind two prices, one for negotiating the final price and one which you keep to yourself. This means that when you go out to buy the Car, you will have in your mind a set price which could help you find the Car in that price range. Having two prices in mind will give the edge to negotiate with the Car dealer.
• Inspect the used Car
Often with old cars this is an issue that people do not inspect the car properly. This could be one of the most vital factors to consider when you go to buy a used Car. Inspection of a used Car would allow you to figure out about whats wrong with the Car, what works needs to get done, the defects if any and any other sort of problem with the Car which could later go onto bother you when you purchase it. Therefore, to avoid maintenance issues in the future, it would be recommended that you inspect the Car properly.
• Test drive
Once you’ve finalized which Car you wish to purchase then a test drive of that Car is a MUST. Why we are focusing on this is because until and unless you drive the Car you wouldn’t know how roughly or properly it has been driven by the previous owner. This would give you a fair idea of the performance of the Car on the road, whether its functioning properly or has some problems with its engine, horse power, gear shifts, braking etc.
• Dealership Vs Private
Dealership Vs Private is a very important issue which needs to be addressed properly as people still are not clear whom should they approach when they need to buy a used Car, either look up in their local newspaper for adds for used cars or go to the dealers. One significant difference in both would be the final price of the Car. This is significant because when you purhcase the Car from a private owner they might ask you the same price as it is in the market for that model after being used. However, if you buy it from the dealer then the dealer might take you for a longer ride for which you might have to pay a higher price which would include their commissions, extra fees and other cots which they might add into the final cost of the Car. Therefore, its always recommended that you buy a used Car from a private owner.
• Cash Vs credit
If you purchase the Car on cash that would be cheaper for you as you would not have to pay interest on the credit installments each month. For this you might have to arrange the whole amount which often is difficult is people to make such a big amount of payment which is why people prefer buying vehicles on credit. However, if you purchase it on credit then the end price would be higher as you would have to pay each month’s interest and by the time you pay your credit off, the total amount would be way more than what you had bought the Car for.