Buying a car can be a really tough decision. If you are lucky enough to be handed full with the cash you can just select your favorite car and pay for the latest brand-new model. However, if you have settled for a second hand car, it requires a great deal of evaluation. With rising car prices, more and more people are opting for second hand cars. Here are some tips for buying a second hand car.
Read also: The Most And Least Expensive Cars To Insure
Research Well Before You Make Your Decision:
Go through classifieds, car magazines, and the internet to get all the relevant information to help you make a sound decision. Now there are apps that help you find trustworthy dealers near your location. You can go through customer reviews to help you decide. You can also evaluate price with the help of tools such as car calculators and True Market Value (TMV).
Ask Relevant And Important Questions From Car Dealer:
List down all the relevant questions to ask the car dealer or direct seller. You can browse through the internet to get these questions.
Consider Financing Options:
When buying a second hand car there are a number of things to consider. These include down payment, trade in value, bank loan or other forms of financing such as dealer financing. Evaluate all the options carefully, choosing the best one for you.
Evaluate Cost Of Insurance:
When buying a car, its cost of insurance is an important consideration. Get in touch with your insurance agent and ask him about the insurance cost of the car(s) you have shortlisted. Cars equipped with safety features are cheaper to insure. On the other hand, cars that are more expensive to repair and maintain have high insurance costs.
Ask For Vehicle History Report:
When you have almost decided which car to buy, get the vehicle identification number (VIN) from the dealer. If the dealer is hesitant in providing it to you, it indicates a danger sign. When you get VIN run the history report of the vehicle.
This can help you identify if the car had been previously declared as having a salvage title by an insurance company. You can also verify if the odometer of the car has been rolled back.
Go For Car Inspection:
If the vehicle history report is fine, get the vehicle checked by a professional such as a car mechanic for further satisfaction. Get the car checked at a mechanic shop where he can clearly inspect the car for possible damages underneath.
Evaluate Options From Where To Buy Car:
There are several options available from where you can buy a second hand car. You can buy a car from a private party. It could be your friend or relative selling their car or it could be a complete stranger. New car dealers usually have a second hand car section as well.
The benefit of buying a car from such dealers is that you have surety that you would not be sold a faulty car. Used car auctions also take place. The benefit of buying a car from such auctions is that you can get a hefty discount. However, you need to be really good at an inspection of the car so as to make a smart purchase.
Go For Test Drive:
When you have selected the car, go for a test drive during daylight. Watch out for any strange noise, smoke or smell. Be very vigilant and observant while you take the test drive, for example, observe headspace and legroom, visibility, braking, and cargo space.
When you are thoroughly satisfied with the car, use your negotiation skills to the best. The biggest advantage of buying a second hand car is that you have room for negotiation.
Strike The Deal:
Get the title in your name as you hand overpayment to the dealer or private party. If any repair work due on the dealer is pending, get it in writing in the form of a “Due Bill”. get in touch with your insurance agent to help you get the car insured.