Given the cost of a brand-new vehicle and the quick depreciation, many people buy used. Like many people, you rely on a car to get around town. You can reasonably find a reliable used auto at almost every price point. Even though you’re not buying new, there are important factors to consider when going used.
Buying or Financing
Whether you buy a certified pre-owned or older vehicle, you need to determine how you’re going to pay for it. You may be able to buy with cash. If not, you’ll either need to finance the purchase with an auto loan from a dealer or lender. There may be stipulations on the type of used car you can buy with an auto loan. You may have to secure a personal loan to cover all or part of the purchase. Examine your budget and determine how much you can afford to spend.
Be realistic about what you need. While it might be nice to own a large, SUV, if you don’t have to haul people around that might be too much car, even used. If you’re a large person, a subcompact or compact sedan may be inexpensive, but uncomfortable. Once you’ve figured out the type of auto, conduct research online to see how much similar models are going for. This can help prevent overspending.
When you buy used, you’ll be inheriting a previously owned auto with no guarantees of its care and maintenance. Certified pre-owned vehicles usually come with certain guarantees, but other resales come with more risk. Consider paying to have your car fully detailed and deep cleaned. See if a seller will let a mechanic check the car’s condition before and/or after you buy. Consider getting extra keys made from a specialist in auto lockouts Orlando.
There’s nothing wrong with buying used. Often, you will get the best bang for your buck and there’s a good chance you won’t be paying more than the automobile is worth. As with most big purchases, careful planning and research reduces your risk of wasting money.