Who doesn't want a car nowadays? At this point its more of a need but that doesn't make it affordable for everyone. Buying new cars can be quite expensive. Hence, opting for used cars is the new way to go.
Reading Time: 3 minutesIf you are in the market for a used car, you need to check out these five tips and strategies before making a purchase.
1. Know what you want (make, model, mileage, color)
Buying a car can be very overwhelming if you don’t know what kind of vehicle you are looking for. It is recommended that before going down to the dealer you sit down and make a list of what you want in your next vehicle. Make sure that you are specific with the details. For example, when looking for a used car make sure to include things like mileage, color, model year, and price range. This will allow you to enter the lot knowing exactly what vehicles are available for purchase.
2. Buying a car is about what you can afford
It is important to remember that when buying a car, it’s not just about finding the vehicle that you want. You also have to know how much money you are willing to spend. This allows you to negotiate without being outsmarted by the dealer. For example, if your budget for buying a used car is $10,000 and the dealer is asking for $11,000 you can simply state that this figure is out of your budget. This gives you an upper hand in negotiations without even having to haggle over the price.
3. Negotiate
You didn’t just drive down to a used car lot to buy a vehicle without negotiating a price , did you? Of course not. Some car dealers will ask you what price you are willing to pay for a car, while others will inform you of the final sale price. Whatever the case may be, make sure that you know how much money is coming out of your pocket before sitting down at a table to sign any paperwork. A few hundred dollars can make a huge difference in your budget and personal finances.
4. Research the vehicle before sitting down to negotiate
There is no doubt that you want to be armed with as much information as possible when sitting down at a used car dealer’s table. The easiest way to gather facts about a car is by doing an online search. If you are buying a used car from a local dealer, call them ahead of time and ask for information such as the number of previous owners, mileage, and accident history. This will give you insight into what type of vehicle you’re buying before sitting down to negotiate its price.
5. Know your budget
Most used cars are sold at a price that’s below the Kelley Blue Book value. This doesn’t mean that you should pay $5,000 for a car when it is valued at $20,000 in the market. Always know what your budget is and stick to it no matter what. If you find the perfect vehicle at the perfect price, don’t let yourself be persuaded to spend more money on it. No matter how good the deal may sound, you are still spending your hard-earned money.
