It is common knowledge that your car starts losing its value the minute you drive it off the lot. In fact, it depreciates by about 10% the moment it leaves the lot and another 20% within its first year. It is no surprise then that the used car market is at least twice the size of the new car market. If you have taken a good look at your finances and made your budget, buying a used car will be the most logical choice, especially if you know how to get the best deal.
Getting the best deal on a used car is not so different from getting a good deal on a new car or finding a good lawyer, such as Horst Shewmaker Law Firm. You still need to make sure you take care of the basics first. Be sure to conduct thorough research on the type of car you want and its availability on the market. You need to be sure of the make and model you are interested in and then you need to shop around to compare prices from different sellers.
You also need to make sure you are buying from an honest, authorized seller, especially if you are buying from a private individual. A third party mechanic should also do an inspection of the vehicle you are considering.
You want to get the best price so be strategic and prepared to negotiate. Make sure you know as much information as possible to leverage that with the buyer in order to get a better deal.
There are some additional factors that are unique to getting a used car. Luckily, most of these additional considerations will be satisfied if you get an incident report. If you are using a private seller, you can get the report by requesting the vehicle identification number(VIN). The report will let you know information about the car’s previous owners, make/model details, lemon status, accident history and service records, total loss and major repairs, mileage and average miles per year, lien and ownership history and warranties remaining on the car. Some car history report companies also include information about the fair market price range of the specific year, make, and model of vehicle in the history check. If the vehicle you are interested in has been reported stolen, your VIN check will give law enforcement an alert, so that is one less issue to worry about.
Another advisable way to be sure you are getting a good deal is to purchase a certified pre-owned car. These vehicles are usually relatively new, with low miles, and no history of major accidents. They are usually only sold at their brand’s franchised new car dealerships so you can have the peace of mind that they come with inspection by the dealer, and factory warranties and other benefits, such as roadside assistance.
Finally, although it’s been around the block a few times, you still need to take that car for a test drive.
If you take all these variables into consideration, you should be well on your way to enjoying your new ride. You won’t quite achieve the new car smell, but you can have the next best thing.