4 Tips for Purchasing a Used Car
03 Mar, 2017
Your budget is the biggest factor in determining what type of car you will buy.
Many people think that buying a used car is better because of the bargain price they can get. The moment a new car leaves the lot its value decreases. Smart shoppers search for used cars that are barely used since they are much cheaper than a new car of the same model due to this instant depreciation in value. There are a few things you should assess before buying a used car.
- Budget. The first item you need to determine in order to buy a used car is your budget. If you decide to finance your car, you will be able to afford a more expensive model, but by doing so you will pay more in interest expense over the duration of your loan. Your budget is the biggest factor in determining what type of car you will buy.
- How the Car will be used. Consider what type of car suits your household's needs the best. If you have a large family, a mini-van or SUV may be your best option. For people with a long commute to work, a fuel-efficient compact car or a luxury model may be a better choice. Determining how you will use your car will allow you to better decide what type of car you should purchase.
- Additional Costs. You may find additional costs associated with the type of car you decide to buy. Some models of cars, like sports cars or SUV's, cost more to insure. A larger vehicle will consume more gas, costing you more money at the pump. If you buy a German luxury car you will have to pay higher maintenance expenses. Consider these factors so you do not buy a car that you cannot afford. The sticker price of a car is not the only expense to consider!
- Comparison Shopping. After calculating your budget and deciding what kind of car you want, get to know which dealerships offer the best deals and prices. Different dealerships have different offers. By shopping around, you will be able to find the best deal. If plan to pay in cash, look into buying directly from an owner as you may avoid some of the dealership costs.
While buying a used car is a great way to get more ‘bang for your buck,’ there are some risks involved with buying a used car. You will have a hard time finding everything out about the vehicle’s history, but you can have a mechanic examine the car to give you an independent assessment as to its condition. Buying a car is a difficult task, but by buying a used car you can be sure you are getting the right car at a price you can afford. See used car dealer in Kansas City, MO, for affordable quality cars.
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