What To Look For When Buying Used Cars | How To Buy A Used Car | Scoop.it

Google "how to buy a used car tips" and you'll get a return back of 1000s of sites that provide you with tips, ideas and suggestions, here are a few more:

 

1. Before stepping on a car lot, know what sort of vehicle you are looking for. What are you using this car for? How many kms/year do you think you will be putting on it? Who is going to be the primary driver? What specific options are you looking for/need?

 

2. Do a search of the used car inventory for dealerships in your area and see what's available. If there are dealers with your "potential" make note of the options, mileage and asking price. Remember ... there is only ONE used car, in that colour, with that mileage, with those options etc. It's not like a new car where there are several "one's" to choose from.

 

3. Have a budget in mind. Are you paying cash or financing? Money down? If you're paying with a Line of Credit, keep in mind that stats show it takes 13 years to pay off a LOC that we have used. If an unsuspecting emergency comes up, you may be in a hurt locker if you used your LOC for that car buy. Used cars (in Canada at least) are based on Bank rates. As for a general idea as to what the rates are, it may be worthwhile to go the Bank route and save your LOC as your emergency fund and finance.

 

These are three simple little tips that can go a long way even before you hit the lot to test drive. Have a good solid idea in your own mind and it will help you when you get there! Good luck!!