Here are a list of factors to consider before buying a used car. Listed from least to most important.
6. Automobile Insurance Rates
Right off the bat you'll want to figure out before purchasing that used vehicle is whether or not you can actually afford the car insurance. Try some of the insurance quote generators to determine the amount you will spend on insurance. And do not be put off by your ideal vehicle because its sporty and you presume you'll have to sell your right arm to get the thing covered by insurance. This is a very common myth to think that the sporty car is more expensive than say an older sedan.
5. Resell Value
Usually you'll stumble upon a car that appears affordable to purchase, without knowing that that year's model has been depreciating faster than the previous Apple iPhone that was launched. You need to ensure that the used car you happen to be purchasing will be worth something once you decide to sell the car. You won't find it difficult to locate used car sites that can inform you which types of used vehicles hold their value. A nice strategy is to look at the prices of older vehicle models of the identical car you plan on buying. As an example, if a 6 yr old model of the same automobile is still holding its price, there is a good chance that the model under consideration will likely hold on to its value later on. Additionally, simple, dependable cars often maintain their value better when compared to complex high end sedans which are prone to age badly over time due to the sophistication of their mechanics and electronics.
4. Research, Research, Research
You'll find an endless amount of data available on virtually every second hand car, by simply doing a quick Google search!. Make sure you utilize online tools to help you. A quick Online search can easily uncover common issues with cars. Go to that model's car message board to learn all you need to know about that years model. If you find yourself baffled or uncertain about particular features or common issues, just use the comment box below this short article, and I wouldn't mind doing a bit of research for you (Seriously!)
3. Reliability and Repair Costs
This is huge!! This is particularly the common case where you aren't aware about gears and gizmos within your own vehicle. Having said that, if you find yourself to be a "petrol head", you will find tons of used, luxurious automobiles within the classified web sites that may appear attractive to you. Since many high end vehicles have lower resell value, you can get your self in to a nice German sports car for under 5,000 (e.g. the VW Jetta). The German models that most attract me would be the later 90's BMW, they are wonderful to push around. However, whatever you do, don’t end up being fooled by the vault like design and the delightful driving experience (Young adults and younger people tend to make this error). You'll find that these types of used German cars can be acquired for cheap, but premiums are generally over the top, for most people anyhow.Please be sure to double-check the reliability score for that car, prior to deciding to proceed to purchase it. Last thing anybody desires to do is shell out 3K on a used car, then wind up paying an additional $5,000 in repairs.
2. Utilizing Your Intuition
You will find this one to be crucial as well! Keep clear of sketchy owners who purposefully leave out important facts or try and keep back information from you. They are most likely being deceitful and therefore are very likely to sell you a lemon.. Furthermore, be sure you check the length of time the person has used and owned that car for. You want to check by buying a Car Fax or a Car Proof report. These can be bought for cheap and is well worth it.
1. The Bottom Line
Truth is, once you go ahead and purchase this car, you may have to live with it for a few years. So please ensure that this really is gonna be "the" car for you and that it will offer you much enjoyment for the long term. If you choose to get a used car that is cost-effective and efficient on gas consumption, you'll find your self content, if you happen to be an accountant that is! Having said that, if you are a car guy like myself, you will soon get tired of the vehicle. This is the bottomline: if you buy a second hand vehicle, make sure you are able to afford it and makes you grin each time you go for a ride.
If you'd like more tips on buying a new or used car, along with in-depth car reviews, please check out my car blog when you have some time.
