17.08 million car sales were made in the USA in February 2018, according to statistics by Trading Economics. This figure is explained by the love of cars, with men choosing their toys based on practicability, speed, or even just for show. Cars are an integral part of a man’s life, an item he takes care of with the utmost precision. Female car enthusiasts also appreciate a good ride. Brands such as Lamborghinis and Ferraris or the recently launched Defender Works V8 are must-haves for such machine enthusiasts. However, these new cars are quite expensive to many, a problem easily solved by buying a used car.
Below is a guide to buying or gifting an incredible second-hand car:
Carry out Detailed Research
The first step when looking for a car, simply has to be the research. Unlike a new car, a used one comes with its share of issues. As a commitment for the future, you do not want to be stuck with a car that stops every 5 miles or heats up after a mere 30 minutes of driving. Luckily, there are car appraisal guides on the internet that simplify your work. Such guides offer you several options depending on the model you prefer, the private party, retail, and trade-in values and even a car dealer near you. Knowing what you want beforehand is critical because the amount of information can get overwhelming.
Go for a Test Drive, and Have the Car Inspected
At this point of your purchase, you have already narrowed your choices to a few cars depending on your pre-planned budget and other important aspects to you. Going for a test drive either reaffirms or negates your paper decision. Sometimes, you will get a good deal on a used car simply because it is an outdated model. Checking the mileage and age of the car is vital, in such a case, as you may find a 3 year old car, but with less than 100 miles, which means it is new. Taking the used car for inspection outside the dealership location to get the real odometer readings, safety ratings, accident and flooding history saves you on future repair and maintenance costs. There are many service providers out there. One of our favorites is Lemon Square.
Buy Your Car from a Private Seller
Ideally, anyone selling a car privately is not an expert, which provides a wider scope for negotiation. Armed with all the information from your detailed research and knowing its real market value will get you a better deal. This is because car dealers add a fee on their retail price for a variety of reasons. Nonetheless, be extra careful during such a private transaction as it is easy to get duped. Make sure the owner signs the pink slip and have an immediate car insurance plan the moment the car is yours.
Buying a used car is beneficial to a car owner in a variety of ways. New cars typically depreciate by 19% during their first year, by the third year they are usually worth a mere 60% of the original price. A used car, on the contrary, is less expensive, especially if the mileage is below 12000. Though the warranty may be expired, it is an ideal way to get your preferred brand at an affordable price. Following the tips above ensures you get the best deal possible when buying a second-hand car.