One of the best ways to save money when buying a car is to buy used cars instead of buying new ones. An often low-mileage used car can save you a lot of money, but still allows you to drive a reliable and attractive car. There are some tips to know when shopping at a used market.
Individuals vs dealers
Some of the best deals are on vehicles sold by individuals rather than dealers. The dealerships have to pay enough for the car so that the seller doesn’t feel like they are picking it up and then selling the car for a profit. On the other hand, an individual seller can often sell the vehicle himself at a lower price than the dealer is offering, but at a higher price than he would have received for exchanging the vehicle.
Some car brands make better deals than others in the used car market. For example, a used Honda can have two to three hundred thousand miles without a problem, while you should be fine if you get another fifty thousand miles from other brands. Magazines like Consumer Reports often rate cars and give you an idea of the best deals.
Many auto mechanics will inspect the vehicle you are about to buy. You should plan to pay an inspection fee, but what you pay will be much less than the cost of an engine or transmission overhaul. Call ahead and make an appointment if you know it will put your driving to the test.
If you have good credit, new cars can often qualify for bank financing. Talk to your banker and secure financing before you buy to save on financial costs. The bank may offer a regular customer a car loan, which is several percentage points lower than that of a dealer.
If you know which vehicle to look for before you buy it, check its book value in the blue book. It is a simple process that can be followed by anyone with access to the Internet. Be objective when evaluating the value of your vehicle.
Auto repair history
A relatively new service called carfax can provide you with an auto repair history. Be sure to copy the vehicle’s VIN yourself and request your own copy of the report. It is not uncommon for a seller to submit a Carfax report that has been edited to show problems with a vehicle that needs to be repaired. These documents can prevent you from buying someone else’s lemon.
While it is possible to save money when buying used cars in san diego, the buyer should do their homework to ensure they get the best possible deal. Choosing a used Honda known for its reliability can help you get the best car. Make sure your vehicle is inspected by a trusted mechanic before purchasing.