With the things going on around the world, like the pandemic and economic crunch for the past months, buying a new car does not seem practical. So instead, many are turning to the used car market, where they can milk a better deal.
However, the process of getting a second-hand car varies from the method of having a new one. Unlike the latter, you cannot blindly buy a used car and assume you will not have other problems later. Therefore, pursuing a good bargain on the used car market needs a lot of research on your part. But do not worry, this one is on us. Here are the 10 key factors you need to consider when purchasing a previously owned car.
Note this, a buyer’s remorse is a real deal, especially when getting a used car. Our brains like to be lazy and tend to shut down on logic and instead become biased toward what seems to appeal to emotion when faced with so many choices. The end game? A regretful overspent!
So before you go out and splurge your money, set a limit on your spending. Strictly adhere to it. This way, you will avoid going beyond your budget and even make logical decisions regarding car purchases.
Does your chosen second-hand car complement your lifestyle? For example, are you planning on getting a family car or for a single consumption only? Also, evaluate yourself and your finances if you think you are okay with the expenses of getting a luxurious car. But, again, the key is assessing your needs and sticking to a car type that best fits the bill.
Most individuals chose to pay for their car through financing. Surprisingly, several options are available in case you also want to make this approach. You can acquire your vehicle through a private lending agency, a bank, or through the car dealership itself.
Moreover, different financing selections have additional requirements. Some may ask you to pay a down payment and fill out a form. Others, on the flip side, will require you to go through extensive paperwork. To save yourself from headaches later on, you must research various financing methods before you go out and hunt for a used car to purchase.
In some countries, insurance is required before the turn over of your used car. If you are part of these countries, we strongly suggest you start looking for insurance once you have reached this stage. This is because you could end up with a pricey insurance premium that could have been deflected if you had more time to research and weigh your options.
If you are not well-rounded about second-hand cars, it would be best that you play it safe and go only with reputable sellers. You can check your online resources for user reviews and car rating information to back up your decision.
Car Title and Ownership
Another thing to note is that the car seller should hand over the car title if you buy it outright – unless the car is on loan. Also, you must check the identity of the individual seller whether they are the actual owners of the car or not. It is alright to ask for IDs and see if it matches the name on the vehicle title.
Do not be bedazzled by a used car that seems shiny, spotless, and almost brand new because under its hood, there might be a grim story that is waiting to be told. Hence, never buy a car based only on a visual inspection. If you are unsure of your validating skills, you can seek help from a professional to help you verify if the car is good or not.
This type of inspection requires a trained car technician who will examine the car, inside and out. This is a critical step that should not be neglected. This is because apart from saving you from a possibly bad deal, he could also assist you in making a better bargain.
Even if you are buying a used car, you should ensure that everything is set. That is why you had the pre-purchase inspection, right? But what would you do if you still had issues later on, such as LED lighting inside your car not working or the headlights got hit?
Taking care of your car is essential; this is why you should have a reliable car repair mechanic or a go-to car headlamp supplier like Sunwayautoparts in case of emergencies. Remember, a minor accident or problem can damage the other parts some more, so you better have your car checked for safety purposes.
Last but not least, make sure that you take your sweet time reading the warranties’ fine print carefully. Check whether the car is still covered under the manufacturer’s warranty. If it is no longer covered, verify if it could be extended.
Indeed, compared to a new car, purchasing a used one can cause a bit of a problem. Still, the process is much more fun and interesting. Moreover, if you follow the tips listed above, you will definitely get your money’s worth.