Shopping for a pre-owned car is a great idea, especially if you are on a budget. However, given that the car is used, it’s all the more important that you do your research to ensure that you are making the right decision. So, to make it a lot easier for you to buy the right car, we’ve put together a quick guide. Read on.
Work out Your Budget
f you are buying the car with cash, setting a budget is relatively easy, given that you know how much you can afford to pay for the car. But, if you need to take a loan to purchase the car, ensure that you use an auto loan calculator to check the monthly payment. Your auto loan payment shouldn’t exceed 20% of your take-home pay.
Choose a Car
This is the fun part. But, ensure you take some time to consider how you intend to use the car. For instance, if you have a large family, you’ll want sufficient room for everyone to be able to fit in comfortably and also ample cargo space. In this case, an SUV might be the right choice for you. You can shortlist a few cars by listing out all the must-have features and then searching for cars that have the features you’ve listed.
Check Ownership Costs
Although a car may be cheap to purchase, it may cost you most over time because of things like maintenance, fuel, insurance, and repairs. So, take this into consideration when you are looking at different cars.
Locate Good-Condition Used Cars
You can find used cars in most car dealerships, websites, used car lots, etc. Many car lots even post their entire inventory online.
Check the Price
Before you visit the seller to physically inspect the car, it’s a good idea to look up the price of the car. There are many pricing guides available online, and by entering information about the car like the year, model, make, features, mileage, and condition of the vehicle, you’ll be able to get an accurate estimate of how much the car should cost.
Check the Vehicle History Report
It’s also important to get the vehicle history report before you take the car on a test drive so you know if it really is in good condition, and is worth checking out physically.
Check the Car Out
If everything seems like it is in order up to this point, you’ll need to physically go inspect the car and take it for a test drive. If you like how the car drives and handles, negotiate for a good price. Before you close in on the deal, make sure to also get the car inspected by a professional mechanic
