New vehicles are undoubtedly tempting, but they often come with a hefty price tag and their cost depreciation can also be high. Therefore, it may be a better idea to look for a used car, which usually offers better value for money.
While a used car is the better value option, you still need to be smart when making your decision, some used cars have hidden problems that can turn out to be a costly mistake for unsuspecting buyers. You want to avoid this kind of situation at all costs, but how?
These are the top things you should look for when buying a used car in order to avoid a potential disaster:
1 - Vehicle information report
This report can be ordered online and reveal any title or logbook problems, ownership history and whether the car has ever been registered as stolen. You need to know exactly what this car has been through. You should also ensure that the car doesn’t have any type of finance on it, there should be no pending lease payments or logbook loan on the car, or you could end up with a greater cost than you had imagined for a used vehicle.
2 - Test drive
Take the car on a test drive on motorways and local roads. You will get an idea of how the car performs and feels in different situations. This will give you an insight into the condition of the brakes, how the car handles while driving, and if the vehicle is making any unusual sounds.
3 - Check for leaks
Park the car in a clean dry area after you go on a test drive and see if it is leaking any fluids. Let it run idly for 30 seconds before turning the engine off and then inspect under the car. Pink fluid usually means a leak in the transmission, green is anti-freeze while black fluid indicates an oil leak, these are all signs of a car needing repair and a closer look.
4 - Aesthetics
The value of a car is largely affected by the aesthetics of the car, both inside and out. Check for repairs done to the car’s exterior and inspect the interior upholstery as well. There is no harm in buying a car that has been involved in a minor accident, but you should ensure that any repairs were dealt with by a professional. Take a look at the engine for rust and any leaks, if you don’t know what you are doing, get a professional inspection check.
5 - Car research
Check out customer and industry reviews on the make and model you are considering to buy. This information is easily available on car sites and forums and gives you an idea of any defects to expect or common problems with the model. Check to also ensure that the car you found is fairly priced.
At some point in your life, you’re going to need to sell your car. Whether it’s not fit for use anymore, or just not fit for you, it’s still essential to get the most bang for your buck when you do decide to sell. After all, a car is one of the most valuable items you own, and it’s important to get the complete value you deserve, both in the dollar amount you receive and in the time you spend earning them. Read more
Negotiation classes are something that more and more of us are turning to as we try and secure a great deal. Can these negotiation courses also pay off when facing down your next car purchase? Read more