When you buy a used car rather than a new car, it pays to do your research. Nobody wants to be stuck with a rust bucket or a car whose engine is just about to fail. Worst scenario of all is to buy a used car and then find out that it did not belong to the person who sold it and you have given away your money for a stolen car! It is not all bad news, however. The next important thing to remember, if you are thinking of buying a new car, is that as the person with the money, you have the upper hand. The seller wants to sell and in order to do that, he or she has to please you, the buyer, and convince you that you are getting a good deal for your money. If you are not convinced, that person loses the sale and there's no guarantee that someone else will be waiting to buy it.
If you're intent on buying a used car, shop around. Don't go for the first one you see advertised in the local shop window or one on the street that has a for sale sign. Make sure it is someone you know or go to a good auction or a reputable dealer.
You should have some idea of the type of car you want to buy even before you do your research on who is selling what. If you already have a set of specifications, you are not going to buy the first car on offer. Not only that, if you know what make and year you are looking for, it is possible to find out about any problems that might occur with that particular vehicle over a period of time. Most makes of car have something in their design that wears out or becomes faulty before the rest of the vehicle. This way, you can make sure that the fault is less likely to occur in essential components. While you are doing your research, you will also be able to get the correct market price for a specific vehicle - which won't be the case if you just go for the first one you see.
In most cases, you have less chance of buying a stolen car or one that the wheels drop off of a week down the line if you buy from a reputable dealer. You will probably have to pay more up front, but you are likely to get a warranty with the car. That way, at least you are covered for the first three to six months. Take someone with you when you go to buy the car. Preferably a mechanic but, if not, a friend or relative who is used to working on cars and knows what to look for as a sign of trouble. Don't buy a vehicle that the tire treads are completely worn on. If that detail is left unattended, who knows what is going on under the hood.
Wherever you buy your car, always ask to see the log book and think twice about buying the vehicle if that is not available. Not only does the log book give you the vehicle's history, it should have a record of change of ownership. Even if you buy from a dealer who gives you a warranty, make sure that you read all the small print before you hand over payment for a used car.
The previous article discussed how to find out the worth of your own car as well as any vehicle that you want to buy, how to find all available vehicles in your area that you want to see, and how to arrange your financing in advance to save you money in the car buying process. Now it is time to actually visit those dealers or private parties that have the cars you want to see. Here are some important things to keep in mind as you do:
If you are visiting a dealer you will most likely be greeted by a friendly car salesperson who will start asking very soon if you have a vehicle to trade in. It's vital that you keep the car buying and car trading segments of the process completely separate if you want to get your best deal and know what you are spending, so just tell the salesperson that you are only interested in a straight sale at this point. Then let then know what vehicles you are here to see, and don't let them steer you away to another model instead.
Be sure to make a thorough visual inspection of each vehicle that meets your criteria and make notes as you do so you can remember what your impressions were about each car that you looked at. It can even be a good idea to make up a checklist of things that you want to inspect on each vehicle in advance, to make sure that you are as thorough as possible about your inspection. Once you have settled on one vehicle that interests you, start the price negotiations as if it were a straight cash sale, since you have your financing already arranged that will give you the cash needed for the purchase. Get as close as possible to the real worth of the vehicle that you have established by doing your advance research online.
Now is when you can ask them to also appraise your vehicle afterward and give you a trade-in figure. Because you kept the sale of the used car and the trade-in of your car totally separate you can now see clearly how good each price is and can negotiate each price to your benefit.
Once you have their best offer, leave and continue shopping elsewhere. Of course, the dealer will not want you to leave and will try to get you to buy right then and there, but it's usually not best to give in to the pressure. Keep shopping until you have 2-3 cars that are good candidates for purchase, and also can be bought in a fair price range. Now begin the final negotiation process on those three cars letting the dealers know that they must compete with other cars that you could be buying soon. Let the bidding war begin and see who wins.
Once you have your best deal, test drive that car thoroughly to make sure that it will indeed meet your needs and then have an independent mechanic inspect it to be sure of it's mechanical condition. If a dealer balks at this, just pass them by as there is usually a reason why they don't want you to know the true condition of that car. Then go to the next best deal on your list and repeat the final inspection process if necessary. Ultimately you will be able to get the car you want at the best price possible, and know that it is a quality vehicle when you buy it.
If you follow these simple suggestions you can usually negotiate the best price for the best cars, and stay in complete control of the whole buying process as you do.
Both Adrian Adams & Jim Johnson are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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