10 Quick Tips for
Buying a Used Car written
by: Grant Bond 11/06/10
#1. Know what vehicle
you want- Your vehicle needs are the most important part of this process.
Wants are also key to the car buying process. For example if you have a family
of 6, you would not want to buy a 2 door sports car. Some dealers will try what
is called a ‘bait and switch’ where they get you committed to a car you want/need
then switch you to a different car that works better for the dealer. Stick to
what works best for you.
#2. Do your homework-
Do your research on your prospective vehicle. There are plenty of websites
that offer information and pricing on all vehicles. Some of these include www.nadaguides.com or www.kbb.com. Don’t go crazy on price evaluation.
Overkill on pricing will waste time and time is money. If you find a car you
like and it is reasonably priced, just buy it. Check into the safety rating and
mechanical information more in depth than pricing.
#3. Set your budget
and keep it- This tip is more for financing than cash buyers. You don’t want
to get in over your head if you are making monthly payments. Budget your debt
to income and find out how much you can afford. A good rule of thumb is to not go
over how much you make in a week for a monthly payment. As for cash buyers you
can stretch your budget a little more for a perfect vehicle.
#4. Know your
financing options- You usually have 3 options: 1. Cash – The easiest form
for the dealer and buyer. 2. Financing through the dealer- some dealers have
great options for financing, some have high interest and bad terms. Read your
contract! 3. Financing through your own bank/credit union- this is easy on the
dealer and might give you a negotiation edge.
#5. Ask for the
CarFax / Autocheck- Carfax and Autocheck are an easy way to get more info
on the history of the vehicle. They both use the same information so carfax is
not necessarily better than autocheck. These sources don’t give 100 % of the history
either. Also check where the vehicle
came from. If the car is from up north you need to be careful of rust
underneath from snow/salt. A car is worth more if it is from the south.
#6. Have a mechanical
checkout- Have your trusted mechanic take a quick look at the prospective vehicle.
If the car is certified or warranted, you can skip this step. If it is sold as
is, or you have a gut feeling something might be wrong, take your time and
check it out. Beware though some mechanics might tell you that something is
wrong just to get the work.
#7. Ask about any
warranty- Make sure your vehicle has a warranty. Even if the warranty is
for a short time or it is a 50/50 warranty. It will be worth the peace of mind
and in some cases worth the hit on repair bills.
#8. Check out the
history of the dealership- Ask your salesman to tell you the history of the
dealership. If the dealer has been in the same location for decades feel very
comfortable. If not be wary and check the better business bureau for legit and repetitive
complaints. Also ask your friends and family for referrals to trusted places.
#9. Look at the uniformity
of the car- This is important to getting a nice car. Make sure that
everything looks the same on the vehicle. Most importantly the paint. Look
closely at each painted panel and door. All of the paint should look the same
color and texture. If there is any discolor or what is called ‘fisheye’ in the
paint be wary. Also for example take a look at the tires. Make sure they are
uniform tread design and make.
#10. Test drive before you sign paperwork- Some
vehicles ride differently than others. You may love the way a car looks and the
price, but if you don’t like the way it drives then there is no point in buying
it. Pay attention to the smoothness of the engine. Also get the vehicle up to
the speed you will be driving it. For example if all of your driving is done on
the interstate take the test drive to the interstate at 70 mph. Also make sure
the transmission is tight and hits all of the gears.
Written by:
Grant Bond
Manager and Owner of
the 3445 Car Store, in St. Petersburg, Florida
