10 Steps to Buying a Used Car
Edmunds.com is a leading authority in the automotive industry and has constructed to list of 10 steps to buying a used car that will help you feel more confident.
- Reason to Buy Used – They’re cheaper. You can purchase a car that is only a couple of years old for a significantly reduced price; simply because some else drove it first.
- Choose the Right Car – Assess your needs and pick the right vehicle for you. Quit looking at sports cars if you have three kids that need to get to soccer practice.
- Buy Second-Tier Cars and Save Money – Don’t by the most popular SUV. Look further down the list and save some cash on a vehicle that not everyone else wants.
- Research Your Desired Used Car – There is almost limitless information on your car online, use it.
- How Much Can You Afford – Take a good, hard look at your monthly budget and figure out what kind of payment you can afford. This will give you of how old a vehicle you should be looking for.
- Set Up Financing – If you can pay cash, great, but chances are you’ll need to finance. Credit Unions can offer very competitive financing rates.
- Where to Shop – Buying from a private seller generally offers the best prices, but dealerships can offer more perks, like warranties and service plans.
- Test-Driving a Used Car – Play close attention during your test drive. Look and listen for anything that seems “off” or “weird,” and do not be afraid to ask questions.
- Negotiate – Prices of used cars are not set in stone, so don’t hesitate to throw out counter offers.
- Close the Deal – Make sure your financing is final and you have insurance for the car before you drive it off the lot.
Check out Edmunds.com’s full list for a more in-depth look at the used car buying process.
Tim Shults likes to play golf and spend time with his four daughters.