Buying a used car is a big investment, probably second only to buying a home or a condo. With any big investments come big headaches if you aren’t careful about your purchase.
Here are 5 tips for avoiding headaches when buying a used auto.
1. Do your research.
Thanks to the Internet, you have access to excellent, free information on used cars, trucks and SUVs. From Kelly Blue Book to Edmunds and doing a search on Google by the vehicle make, model and year, you can see what it’s worth, what its strengths and potential risks are, other owners’ reviews, plus its resale value if you decide to trade it in a couple of years.
2. Why is it for sale?
Many used cars on the lot or through private sale in the AutoTrader are for sale because their previous owners are trading them in for a newer model. However, some of these autos are for sale because of quality concerns. If you get a wishy-washy answer when you ask the seller why they put their used car up for sale, dig deeper. Take a step back and do your research again to see if there are any recall issues. Ask more questions of the seller to see if you can get them to share any habitual repairs.
3. The fax tells the story.
An excellent way to verify if the seller is telling you the truth about their auto’s history is to check it yourself. Fortunately for consumers, companies like AutoCheck and CARFAX can help. It’s better to take this extra step up front than kicking yourself for not doing it if you find that the auto has a poor maintenance record after you buy it.
4. Know your financing options.
If you’re buying from a dealership, they will make you aware of their financing options. They want to make it as easy as possible for you to get into a used car. But they may not have the best rate and terms for you. Plus, did you know that you could get financing for a private sale, too? Before you get started, check with your bank. See what rates and terms they have. Another option is MyAutoLoan.com. They provide an excellent site for you to research your financing options for either scenario.
5. Does it come with warranty?
More stressful than overpaying is being the proud new owner of used car, truck or SUV only to have to take it into the shop 30 days later. Ask the seller if the auto comes with a transferrable warranty. If not, get a free quote form an extended auto warranty provider.
Looking for more info on used car tips, then visit www.AmericanAutoAssurance.com to find the best advice on what a vehicle protection plan can do for you.