How to Buy a Used Car
Dec 02, · “Buy here, pay here” used car dealers act as both the car seller and lender. The name comes from the fact that many require buyers to bring their car payments directly to the dealers – sometimes every week. Buy here, pay here used car dealers typically are the lender of last resort for buyers with terrible dattiktok.com: John M. Vincent. Aug 21, · The main thing to remember when you’re buying a used car from a dealership is that you’re the one in charge. Salespeople may try to make you feel that they’re running the show. Having information about the dealership, model and vehicle – as well as your own budget and credit – will keep you in the driver’s seat.
However, there are still some things that can trip you up. We like our members to be in the best position possible when they shop for a car. With that in mind, here are seven tips for buying a used car from a dealership. For that reason, you should go in with a clear idea of how much you can afford to spend. You can do that by getting pre-approved hlw a loan or, at the very least, using a loan calculator to decide how much you can spend. Regardless of where you live, you probably have a variety of dealerships in your area.
Here are some of the things you should research before you go shopping:. You should be able to get answers to these questions online. Never visit a dealership with a sketchy reputation or bad reviews.
You might want but rush right over and start shopping, but do yourself a favor and research some cars, first. You might start by deciding what features you vrom in your what is the main symptom of diabetes car or which makes and models you like.
You should ised check out consumer complaints and recalls. If you spot a car you like, and you have the VIN number, you should run a CarFax report before you go to see it.
It may also help you narrow down your choices, so you can pick a car that will give you the performance and reliability tp want. Never buy a used car without test driving it first. The test drive will give you ueed chance to see how the car handles and also, so test out everything from the brakes to froom radio.
A salesperson who pressures you or tries to convince you not to take it on the highway may be trying to distract you or prevent you from spotting potential issues. For most buyers, the final step is negotiating a price. You should still plan on haggling a bit to get the best possible price. A good rule of thumb is to go in with a low but reasonable offer based on your research. Instead, make incremental increases and be prepared to walk away.
Auto Loan. Here are some of the things you should research before you go shopping: Does the dealership have a franchise tp to sell Certified, Pre-Owned cars? Does the dealership have good reviews how to reset service light on audi a3 2008 sites like Yelp and Google? Are there any hw about the dealership with the Better Business Bureau?
What of cars do they have in stock? Are they an indirect dealer of a local credit union, like Uxed Financial? Check here. The content provided here is not legal, tax, accounting, financial or investment advice. Please consult with legal, tax, accounting, financial or investment professionals based on your specific needs or questions you may have. We do not make any guarantees as to accuracy or completeness of this information, do not support any third-party companies, products, or services described here, and take no liability or legal obligations for your use of this information.
Posted on Aug 21, Topics: Auto Loan.
Here are some money-saving tips for getting the best deal and avoiding unnecessary extras
Do pay the down payment with a credit card. That way, if the dealer goes out of business before you can pick up your car, you can challenge the payment with your card issuer. And don't sign any. Nov 08, · And if you're buying from a dealer, a phone call or text is the best way to ensure the car is still in stock. Sometimes the seller will mention something that wasn't in the ad that might change. Mar 22, · If you're buying the car from a dealer, look at the “Dealer Retail” price. If your next-door neighbor is the seller, you should look at the “Private Party” price. You might also notice that pricing.
Check reliability and ownership costs. Check the vehicle history report. Shopping for a used car is like going on a treasure hunt. There are amazing deals out there, and with the emergence of the Internet as a car shopping tool, you have every chance of finding a good deal on a car that meets your needs and fits your budget. It also makes sense because cars have never been more reliable. If it isn't a used car you want after all, check our guide on how to buy a new car.
There are really only two ways for you to buy a car : Pay cash or take out a loan. Remember to set aside money for registration and insurance — and possible future repairs. Most people take out a car loan so they can protect their savings and buy a more expensive model.
Use an auto loan calculator to compute the best loan for you. Now the fun begins — picking your car. Take some time to think about how you plan to use this car.
If safety is a top priority, check out the Insurance Institute for Highway Safety for crash tests. Narrow the field by making a list of must-have features. Then, search for models with those features using tools such as Car Finder on Edmunds. As you move forward, build a list of three target car models to research in more detail. Every used car is different. Some have been driven more miles and have more wear and tear. But, in general, you want to make sure you're choosing models known for their dependability.
Consumer Reports and J. Power collect maintenance reports from owners and rate all used cars. A closely related issue is the total cost of ownership. Some cars are cheap to buy, but will cost a lot in the long run because of insurance, maintenance, repairs and depreciation.
There are a lot of websites that list used cars, and each site seems to have its own character. Here are four good ones to check out:. This site lists used cars for free. Here, sellers pay to list their cars. Paid sites are better at keeping out scammers and usually provide a list of mid- and high-end cars.
AutoTrader allows you to easily filter by year, make, model, price range and features. This site is an aggregator — it pulls together information from many different areas into one searchable site. This online used car superstore is a good place to look because it has a large inventory and no-haggle pricing.
This means prices are clearly posted on the cars and negotiating is not allowed. Carmax also offers an included warranty and provides financing. Most used car lots have the cars in their inventory posted online. Once you find several cars for sale in your area — but before you physically inspect them — look up that car model in a pricing guide such as Kelley Blue Book.
When you look up a price, include the following information:. Year, make and model. These are special features installed when the car was built, such as a navigation system.
Typical annual mileage on a car is about 12, miles. If a car has been driven more or less than this, the price is adjusted accordingly. Condition level. Read the descriptions of the condition levels carefully. Most pricing guides give you several different prices.
You might also notice that pricing guides tell you what the car is worth as a trade-in. Make sure to price your current car if you plan to trade it in at the dealership. In some cases, online classifieds will have links to free vehicle history reports. Here is some of the important information you'll learn:.
Does this car have a clean title? Steer clear of cars with a salvage title because it kills the resale value, and the car might still have hidden problems. Serious accidents are reported to the insurance company and will probably be on the vehicle history report. Shady car lots might spin the odometer back to increase its selling price.
The vehicle history report can alert you to this scam. If you order the report, you'll know for sure each time it changed hands.
Some reports show if required maintenance was done on time and where the work was performed. A quick chat will answer lots of questions and save time. First, verify the information you read in the advertisement.
Then, here are some basic questions to ask:. Do you have the title and is it clear? A clear title shows there are no liens on the car. Can I have the car inspected by a mechanic?
Now, you'll not only see if you like this model, you'll also have to decide if this particular car is worth buying. However, you can give the car a pretty good initial inspection. Select a test drive route that has a little bit of everything: hills, rough pavement, curves and even a stretch of highway. Drive the car with the radio off — you can test that later. Pay attention to the following things:. Visibility: Are there any blind spots?
Acceleration and cornering: Does the car have enough power? How does the steering feel? Brakes: Are they responsive and predictable? Ergonomics: Can you easily reach all the gauges and controls? Mechanical condition: Listen for any unusual noises or vibrations that could indicate worn suspension parts or tires.
After the test drive, check the back-seat leg room and cargo capacity. If you liked driving the car, and it seems to be in good condition, you should still take it to a mechanic. Private party sellers are pretty relaxed about this.
Go ahead and insist if you have any doubt about the car's condition. CPO cars are thoroughly inspected and include an extended factory warranty. Chances are, the seller is asking more than the market average.
But it really needs a new set of tires. You can go back and forth until you agree. When you bargain with a car salesperson at a car lot or dealership, keep in mind that you're dealing with a pro who knows all the tricks. If you have a preapproved loan, you're a cash buyer as far as the dealer is concerned and you should negotiate on the price of the car, not the size of the monthly payment. This allows you to dodge a common trap set for buyers by salesmen: convincing a buyer to focus on the monthly payment rather than the overall cost of the car.
Start low, but in the ballpark. Instead, make an offer that is on the low side, but still enticing. Uncontrollable buyers keep salespeople off balance, which can help you in negotiations.
Negotiate slowly and repeat the numbers you hear. Ask about fees before saying yes to a deal. Some dealers include bogus fees to take back profit they lose in negotiating. Ask for a breakdown of additional fees before you agree to any deal.
Always be ready to walk. No goodbyes are necessary. Before taking ownership of the car, you should add it to your insurance policy. Make sure you get a title and have the seller sign it correctly. Most states allow about 10 days to register the car in your name. If you're buying from a private party, and there is still a loan on the car, call the lender to find out how to close the deal. If the lender is a bank, offer to meet the seller in a branch office and sign papers there.
Just make sure all the other terms of the loan are the same. Before the contract is drawn up, the finance manager will also likely pitch you additional products and services. Buying an extended warranty at the right price can provide peace of mind.