Buyers looking for a new ride in 2014 will want to make sure they haven’t excluded used cars when shopping. The allure of a brand-new vehicle will always win over some people, but the truth is that used cars are more attractive than ever. A new vehicle loses up to 30% of its value within months after being driven off the lot, and the insurance rates are higher than with a pre-owned model. Those who are leery of buying from an individual seller can appreciate that dealerships are offering large selections of used cars, many of which even come with a factory warranty. The benefits to buying pre-owned are clear. If you’re in the market for a new set of wheels and are looking at used cars, consider these five tips throughout the process:
1) Don’t rule out the competition.
Most people go into the scouting process with a specific make and model in mind. The smartest
shoppers know not to rule out competing vehicles from other manufacturers. If you’re thinking about getting a Honda Accord, for example, make sure you test-drive a Toyota Camry, Ford Fusion, or other midsize sedan.
Most people go into the scouting process with a specific make and model in mind. The smartest
shoppers know not to rule out competing vehicles from other manufacturers. If you’re thinking about getting a Honda Accord, for example, make sure you test-drive a Toyota Camry, Ford Fusion, or other midsize sedan.
2) Take notes on the top contenders.
Keep casual, yet organized notes of things you do and don’t like about each of the vehicles you’re considering. On the notepad, include a checklist of things you need to inspect or ask about each vehicle. For example, list basic factors like odometer reading, body damage, gas mileage, and major repairs. Give each vehicle a score of between one and ten immediately after giving it a test drive so you’ll remember what your gut feeling was about it after sitting in the driver’s seat.
Keep casual, yet organized notes of things you do and don’t like about each of the vehicles you’re considering. On the notepad, include a checklist of things you need to inspect or ask about each vehicle. For example, list basic factors like odometer reading, body damage, gas mileage, and major repairs. Give each vehicle a score of between one and ten immediately after giving it a test drive so you’ll remember what your gut feeling was about it after sitting in the driver’s seat.
3) Give a detailed visual inspection.
Be sure to look over every square inch of the body, looking for any sign of damage, such as scrapes, dents, or rust. This exercise is about more than making sure it looks good, it’s also a way to look for signs of a potentially unreported accident. Don’t be afraid to speak up and insist on getting all the facts and history about any body damage you find.
Be sure to look over every square inch of the body, looking for any sign of damage, such as scrapes, dents, or rust. This exercise is about more than making sure it looks good, it’s also a way to look for signs of a potentially unreported accident. Don’t be afraid to speak up and insist on getting all the facts and history about any body damage you find.
4) Don’t allow yourself to feel pressured.
Purchasing a new vehicle is a big financial investment. You deserve to be able to think through your options without feeling pressured to make an immediate decision. While your gut feeling about the vehicles you look at is invaluable, it’s also important to compare each of the contenders in your own home, with a calm head and some dedicated time. Don’t let a dealer or individual seller bully you into making an on-the-spot decision.
Purchasing a new vehicle is a big financial investment. You deserve to be able to think through your options without feeling pressured to make an immediate decision. While your gut feeling about the vehicles you look at is invaluable, it’s also important to compare each of the contenders in your own home, with a calm head and some dedicated time. Don’t let a dealer or individual seller bully you into making an on-the-spot decision.
5) Ask about a warranty.
It’s not uncommon today for many used cars to come with some type of warranty. Some of these warranties come straight from the manufacturer, while others are offered by the individual dealership. If a warranty is offered, get all the details on what exactly it covers. Some cover all potential issues, while others are limited in covering only the basics. It’s not uncommon for warranties to have a deductible, some as high as $150. Also pay attention to the fine print on a warranty, checking to ensure it is transferable to the vehicle’s new owner.
It’s not uncommon today for many used cars to come with some type of warranty. Some of these warranties come straight from the manufacturer, while others are offered by the individual dealership. If a warranty is offered, get all the details on what exactly it covers. Some cover all potential issues, while others are limited in covering only the basics. It’s not uncommon for warranties to have a deductible, some as high as $150. Also pay attention to the fine print on a warranty, checking to ensure it is transferable to the vehicle’s new owner.
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