When buying a used car it can be quite a tricky affair. You have your used car salesman promising you heaven in a colourful suit and a beaming face. Falling for his charm you buy the car, and you are on the road where less than a kilometer away you’ve got engine problems. This doesn’t have to be you. You can make a wise decision when buying cars and here is how:
Tip No. 1 Buy a Two Year Old Car
A car in accounting usually has a useful life of 5 years.
A new car depreciates by 25% when it is driven out of the showroom. A car in accounting usually has a useful life of 5 years. So buying it at 2 years old you will be able to use it for more than two years where it can give you reliable and uninterrupted service. Thus, the prudent used car buyer buys his car when it’s at 2 years and sells it off when it is 4 years old. When the car surpasses 5 years of age it starts to bring on a lot of mechanical problems. Another problem of buying a car that is past its useful life is you’ll find it difficult to purchase its parts, which may result in you getting expensive imports. Today it’s the engine tomorrow it’s the exhaust system etc. you never run out of problems. With such expenditure on fixing your car it will come at such a huge cost to you.
Tip No. 2 Check Your Budget
Your pocket will determine what kind of car you get. However, if you are going to have added debt when purchasing your car, make sure that the car is going to be reliable. You don’t want having to incur a huge bill for your car and then having to double up paying your debts. Thus, with the amount of cash you don’t have to go for a trendy model that has lived for more than two years, it’s even better you go for a slightly drab model that has lived for not more than two years. Forget the model of the car the best car you can have is the one that will be useful, reliable and will have easy to find parts. However, be warned a car’s age may fool you also, as a car could be older but has travelled lesser miles.
Tip No. 3 Compare Prices
There are a number of useful online comparison tools all free and there for your disposal. Thus, once you have identified your budget and you have made a pick of which car you want it’s time to see if you are getting the best deal for that car.
Tip No. 4 Know Thy History
Get the history and safety report of your car. Those wrecks that you pass by are refurbished and reworked and resold to you. Unless, you are the type of person who likes to sleep in coffins or a dark tourist, a car with a dark past may not feature in your wish list. For the rest of us all, it’s probably best to know that the car was owned by an elderly couple who sold it so they could have a cruise around the world.
Tip No. 5 Buy on Location
There are a good number of sites that are selling used car. If you purchase your car via the internet without inspecting it or taking it for a test drive you could be in for a rude shock when the car is delivered to your doorstep. Make sure that you can go to the dealership and test drive that car.
Tip No. 6 Bring a Mechanic With You
You may ask, “Why should I spend an extra quid on a mechanic?” Well, that is a fair question to ask. However, what you want is professional advice where you know exactly what you are getting. The mechanic will be able to put the car under a more vigorous test drive. Ultimately, he’ll ensure that you get a car that will be reliable and suited for your needs.
Tip No. 7 Negotiate
To have any leverage in any negotiation you have to have the right information. Make sure that you are able to know everything about that car before you spend a cent on it. Act disinterested to the car you want to purchase. Test drive at least three different cars, seem like you are an unsettled buyer. Then, start to act like you are mulling over the car you’ve chosen. This will act out much better than if you start beaming and buzzing about the car, as the used car salesman will know he’s got you hooked.
These are just some of the tips that I am able to come up with, do you have any other tips you would like to share or do you disagree with some of the tips? Please feel free to comment below.