Buying a car tends to be a hefty investment for most people. Because it is a hefty investment, people are always cautious about the type of car they are buying, the initial purchase cost of the car, the on-going costs and the risk of the car breaking down over the long term. In a nutshell, people don’t want to put all of their money into something that will end up becoming a black hole. So to remove a few of the fear factors that come with the purchase of a used car, here are some used car buying guide and tips on what to look out for when you are on the hunt for a used car.
Car brand reputation
There is a range of car brands that you can choose from. Those cars that are seen to be more reputable in terms of sustainability and durability generally hold a higher price tag. Consider what your car priorities will be and then decide on the type of car and models that will be suited to your driving requirements. Some questions you may want to ask yourself are:
- Do you want a car that will get you from A to B?
- Do you plan to make long journeys?
- Do you plan to take your car off road?
- Do you need a car that can offer you luxury comforts?
- Is fuel efficiency important?
- Will you be mainly using the car for a few or multiple people?
- Do you need storage space to carry goods?
These are just a few questions that you should ask yourself when considering what type of car to go for. Look into car models that have a strong reference with the type of car functionalities that you need. Investing in a reputable brand will take away much of the fear factor.
Stay within your budget
When someone asks you “Will you buy my car from me?” you need to make sure that you can afford to purchase a car that is within your budget. Will you be purchasing the car with a cash payment or will you be using a credit line to purchase the car. Assess the risk of the car purchase. Remember, what you pay for is what you will usually get!
Buying private or buying from a car yard
If you are buying from a private owner, you may obtain the car at a cheaper price. The buyer needs to be aware of the procedures required by law in their state for the transfer of ownership, roadworthy certifications and car registration. If you are buying from a car yard, they will usually include these as standard during the sales process, however you need to ensure that the process is followed thoroughly otherwise when the transfer of ownership is complete, you will become liable for any issues with the car. Should you decide to do it privately, make sure both you and the seller complete the required transfer documents and necessary registrations prior to the transfer of funds and ownership of the vehicle. This is important as used cars in huntsville al often carry a high risk with potential faults.
Ask for any warranties or guarantees
This is important as used cars often carry a high risk with potential faults. You should be able to negotiate a warranty deal from a car yard, whereas with private sales, you may be limited to taking out your own warranty against the car (hence the lower price when purchasing privately). Depending on the car yard, they may give you 3 to 6 months warranty inclusive of the price.
Ask for inclusions
Don’t be afraid to ask for any added inclusions during the sale, such as warranty, registration and roadworthy inclusions. Don’t forget to also ask about the spare tyre and jack inclusions in the car.
Check the lights and electronics of the car
It is an easy oversight when checking the car during the day, but check to make sure the lights are working and that there aren’t any electrical faults with the car. Check the battery to see that it is still charged or whether you may need to replace it in the short term.
Check the engine!
The engine needs to look and sound like it is in good condition. If the engine goes, then you may see yourself with an expensive repair bill, or worse, you may need to replace the entire car.
Mileage & age considerations
These are factors to consider with the sustainability of the car. Has the car done fewer than 100,000km over a short or long period of time? The higher the mileage and the age, the higher the risk with the car.
Have informative proof about the vehicle’s maintenance records
Check records of the cars service and maintenance history. Has the car had any problems and if so, could they potentially arise again or lead to anything costly in the future. Minimise the investment risk as much as possible by reviewing the vehicle’s documentation.
Investing in a used car can be risky, but you can minimise the risk by following the actions stated above. Be savvy and invest in a vehicle that will be cost efficient for you over the long term.
