Purchasing Your "New" Used Car

So you've decided to purchase a used car? Good for you! Savvy vehicle shoppers know that going for preowned saves them 20-30% right off the bat thanks to avoiding new car depreciation costs. Here are some steps you should follow when purchasing your "new" used auto.

-- Consider what you can afford and what kind of vehicle will best suit your lifestyle. Although purchasing used may allow you to go for a more prestigious model and more features, you still need to realistically stay within your budget. You may have your mind made up on exactly what you want, but in this case it's better to remain open to other possibilities. You just may find a similar auto from a different car maker that has better options at a lower price.

-- Do a little bit of research about that "perfect" used car you've found at a dealership before purchasing it. You should definitely do a title search of your own to find out more about that particular car's history. For example, does it have a salvage title? Has it has many previous owners? Does it have a history of accident, fire, or flood damage? The title search will also be able to tell you what the odometer's mileage should be.

-- Make sure you have your financing method in place. Of course, it's always best to purchase with cash. It will give you the most leverage for negotiation in any context, be it private or at a dealership. Otherwise, the best method for financing your used car is to obtain a loan through your financial institution such as a bank or credit union. Many used car dealerships offer their own financing, which may be beneficial to those with less than stellar credit ratings.

-- Consider whether or not you want to purchase a car from a private party or from a dealership. The safest way to go is to buy from a reputable used car dealership which offers certification, does complete inspections, and offers warranties to buyers. It's a beautiful thing.

Certification ensures that you do not need to take it to a mechanic for a once-over. If you are purchasing from a private party, make sure you take the vehicle to an independent skilled mechanic to have it inspected: most sellers will be just fine with it. If they're not, then look elsewhere because it's not worth the risk.

Whether you decide to buy from a private party or a reputable dealership, you should always protect yourself by following these simple steps. Happy driving!

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