Money saving information on used cars, used autos, and used trucks. Free
quotes/searches, plus information on auto loans, extended warranties, auto
insurance and more!
Used Cars - Buying Tips
Buying a good late-model, low-mileage, used car instead of a new one can go
a long way toward keeping your driving costs down. For owners of new cars, the
biggest expense is depreciation, with a car suffering its biggest drop in
value during the first 2-3 years. So, let the first owner pay for that, then
step in and buy the car at a big discount from its original price.
Previous lease vehicles can offer great value for a low price. The market
value of a low-mileage, 2- or 3-year-old off-lease vehicle will be about
35-50% below original retail even though it's still in excellent condition. It
will cost a lot less over time to drive one of these compared to a brand-new
model, especially if the car is kept at least 3-4 years.
To avoid paying too much for a used auto or truck, be sure to check several
local newspapers to compare prices on similar vehicles. Most bookstores and
libraries carry inexpensive price guides, but those are merely estimates. The
actual market value of a particular vehicle is determined by what people are
willing to pay for similar cars in your area.
When buying from a private party, you'll be buying the vehicle "as
is" (unless it's still under the original warranty). This means no
warranty at all. So, if you're not an experienced auto mechanic, don't ever
buy a used vehicle without having your mechanic give it a thorough inspection
before you sign any contracts or pay any money. You'll have to pay for the
inspection, but it's money well-spent, and any problems that are discovered
can often be used to negotiate a lower price.
Be wary of verbal promises. Non-written statements concerning a car's
condition (or warranty) are almost always worthless. If someone won't put it
in writing, it's probably not true.
If you are considering the purchase of a used vehicle from a dealer, keep
in mind that dealers usually make more money on used vehicles than new ones,
simply because it's much easier for consumers to find out what the dealer's
cost is on a new car. The higher the price, the bigger the profit margin, so
don't be afraid to offer a lot less than the asking price. It's not unusual
for a dealer to make $2,000 to $3,000 profit on a used vehicle that sells for
$10,000 so there's plenty of room to negotiate lower prices.
Most dealers sell their used vehicles "as is" (without any
warranty), and they're not usually very cooperative when it comes to letting
people take their vehicles to other shops for pre-purchase inspections. Of
course, they'll have lots of excuses for those policies. Here are several
examples (which are often untrue): "That's not necessary, our mechanics
have already done a thorough inspection." "All of our cars are
completely safety-checked. They wouldn't be on our lot if they needed any
repairs."
While it may be true that a dealer's cars have been
"safety-checked" so you won't have a steering or brake failure on
the way home from the dealer, their inspections are not always thorough, nor
are they done with full disclosure. Always have your own vehicle inspection
done, by your own mechanic, before signing any contracts or putting any money
down on a used vehicle.
RESOURCES:
Used Cars - free quotes.
Used
Autos - multiple quotes.
Used Trucks -
free quotes.
Cars for Sale, Buying Services.
Auto Loans - Rates, Apply Online.
Auto Insurance - Rates, Information.
Extended
Warranties, Service Contracts.
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