Buying a new car is a lot of fun, and while it may seem like the smart move, in many situations you may find that a good used car has more benefit than brand new one. Consider the purchase carefully before you decide to buy new or used. There are positives and negatives to both, but in the end, you have to buy what is right for your situation. Here are some points to consider.
Know the Length of Financing
This might not be the first thing you think about, but consider the length of time you will have the loan for your car purchase. If you are buying new, it can be 5 to 7 years. If you are buying a used car, the term is much shorter, often 2 years, which means you will pay less interest over time. The payment is often lower as well but keep in mind the shorter financing term could make the payment higher than you expect, depending on the value of the vehicle you are buying.
Pay Cash
The purchase price of a good used car can be low enough to allow the buyer to buy it with cash and forget the financing altogether. If you buy your car from a third party, often cash in the only option available. If you have been saving for your next car purchase, take a look at what is available in your local area, but choose wisely. If you have a car type in mind, you may not want to limit your search to just that car. Consider the alternatives. If you are just buying an additional car that is more a toy than transportation, that changes the situation.
Verify The Condition Of The Car
Take a close look at the car and verify the condition of it before you commit to buying it. This means looking under the hood, checking under the car, and listening to it run. Claims of repairs need to be backed up with records to prove they have been done if they are influencing the price at all.
If you are not comfortable with any part of the inspection, ask to take the car to a mechanic for an inspection. If the person selling the cars fights you on this, walk away. It could mean there is something they are hiding. Don't tell your mechanic what your concerns are. Just let them go over the car and see if they come back with the same concerns of different ones. Remember, they will look at the car with no emotional connection to it.
Share19 July 2017
After I totaled my car, I knew that I needed to find a new vehicle that would weather auto body damage a little better. I started looking around for an incredible dealership that I could work with, and I was able to find a nice place that was relatively close to my house. They were easy to work with, focused on making my experience enjoyable, and had an incredibly large selection of great cars. Within a few hours I was able to find a really nice car that I loved, and I was really happy with the entire process. This blog is all about finding a great car that you will love.
