Buying Used This Summer? Here’s What you Need to Know!

Before purchasing a used car you need to do some homework. Here’s everything you need to know before you start your summer shopping for used cars.

Thoroughly research what’s available, determine your budget, mode of payment or financing, and then become a detective leaving no stone unturned, checking everything from mileage to possible recalls. It sounds like a lot of work initially but it will save you money and lots of hassle in the long run. Remember always – buying used is a risky business and it’s your responsibility to make sure you find a safe, reliable ride that will satisfy all your needs. All it takes is some legwork upfront.

Where Can I Find a Used Car?

There are many places selling used cars – from dealerships and rental car companies, to used car lots and private sellers. Check sites such as Craigslist and Facebook Marketplace and dealership websites or alternatively head out to a car lot and have a look around to get a feel for what’s out there.

But no matter where you buy a used car the same level of scrutiny and checks need to be applied, more so if buying from a private seller, as there is usually no recourse with such a transaction and of course, no warranty.

When you find a car you like it’s time to do some sleuthing. Here’s a must-do list before you sign off and part with your money.

Buying Used Must-do List

– Find out the value of the car before going out to see it. Kelley Blue Book is one good resource for this kind of information.

– Always test-drive the vehicle even it’s an individual selling, to see how it drives and if there are any obvious and observable issues.

– Request the car’s maintenance records from the owner or dealer.

– Examine the car thoroughly, looking at stuff like mileage and wear, or better yet get a trusted mechanic to inspect it. This way, if there’s anything wrong you can either walk away or negotiate a better price to accommodate the fix, or have the owner or dealer tackle the problem before you buy.

– Check for any recalls on the make and model of the car you’re considering. You can also get an independent review and run a vehicle history report through services such as CARFAX and AutoCheck.

Dealership Advantages

At dealerships used cars often come with some type of warranty and they’ll do all the paperwork for you, which can alleviate some of the worry. But this may come at a higher price. Before you buy used from a dealer, make sure to ask about their return policy and get it in writing. If the car comes with a warranty, review the terms and conditions. Some dealerships offer certified pre-owned cars which means it has a warranty backed by the carmaker.

Buying From a Private Seller

The advantage of buying from an individual is the fact you’ll meet the actual owner and probably get more information about the car and the price is usually fair and negotiable. Just remember that with a private sale you have to register the vehicle yourself, and there are no warranties, no guarantees and no comeback.

Independent Used Car Lots

You’re on your own – quite literally. Unlike dealerships there are usually no warranties here and sometimes no recourse if you’re sold a ‘lemon’ and so it’s a riskier purchase. On the flip side, the cars are normally cheaper.