Things To Consider When Purchasing A Used Car
Whether you are buying an extra family car or selecting one for yourself, buying a used car is obviously a great way to save money. Some people trade their cars often, so you might even be able to find a car that's in almost brand new condition. When you're looking for a used car, here are some things for you to consider that will help you get the best for your money.
If the vehicle will be used by other family members, consider involving them in a payment plan. For example, if teenagers will be driving, perhaps they could contribute to a gasoline fund and they could help to pay for insurance. If both parents work, perhaps they could divide the cost of the monthly payments. Whatever works for your family!
Consider having a family meeting where you discuss how much will be spent on the car. Remember that the total price will include the tax, title, registration and the insurance on the car. Those inclusions add up to about 10 percent of the cost of the car. And if the car is being financed, you'll pay interest on the entire amount.
Of course, the dealership where you purchase the car will lend you the money to pay for it, if you qualify for a loan.
Consider going through your own bank. If you have direct deposit or can do an electronic loan, your payments may be less than going through the dealership.
The Car's Condition
If you don't know a lot about cars, consider taking an experienced friend with you to pick out the car. Getting the help of a mechanic is also a great idea.
Among other things, check the tires, filters, alignment, suspension, belts and lights. Find out if the seller will pay for repairs that are needed.
It's important to find out if the car has been in a major collision. If it has, you might have problems down the road. However, if the car is in good running condition, don't pass up a great car because it needs to have the body repaired.
A good paint and body shop can replace a fender, bumper or headlight that has been damaged or destroyed. Dings, dents, and other accidental damage are no big deal, so they can be repaired for a very affordable price. In addition, a great paint job will make your used car look brand new. Find out if the job carries a warranty, and get it on paper. It's also important to go with a collision repair shop that is properly licensed and that is insured.