During your search for a used car, it is vital that you do your homework and make sure the car you want to buy isn't over-priced given its condition and features. A used car might look like a great deal, but if it is over-priced you could be taken advantage of. The tips and tricks below are designed to help you ensure that you don't pay too much for the car you want.
1. You have to do you Homework.
Once you have some idea of the kind of car you like, do your homework on that car. The first thing you need to find out is how much it costs to buy a brand new version of that car from a dealership. Do they still make the car today, and will it be easy to get parts for the car if you need to source them later down the track? You'll have to get out there, or jump online, and find similar cars for sale so you can compare the prices. If the price of the car you want to buy seems to good to be true when compared to similar cars, chances are it is. There may be expensive faults factored into the discounted price. If you think the car is over-priced compared to other examples you've looked at, simply as the seller why he priced it the way he did.
2. Second Hand Cars Lose Value Over Time.
New cars lose their value rapidly; a 3 year old car is 30% less valuable than it was when it was first purchased and after 5 years its value may have declined by a further 35% from the original purchase price. Having researched the price of a brand new version of your desired second hand car, you can apply these figures to help you work out the value of a second hand vehicle.
3. Check Third-Party Guides.
Check out the history of your chosen vehicle with Car Fax. You can use Car Fax to find detailed descriptions and information about the used car you're looking to buy. They offer information including data from insurance companies and statistics about safety and accidents.
If you need a comprehensive list of used car values, take a look at Kelly Blue Book. They have hundreds of used car values on their list.
4. Get a Mechanic to Look it Over.
Of course the value of a used car has a lot to do with is condition and how well it runs. We can't all be mechanics, so if you don't understand what makes a car tick, have a qualified person accompany you to check that everything is in order under the hood. Be careful, because there are those out there who will try and convince you to buy a car that isn't in working order. Don't let sellers like these rip you off. If you can find a dealer with a happy client base and a great reputation, you won't have too much trouble. Ask the advice of friends and family; they've all been in your position and their advice in evaluating a car dealership can be invaluable.
1. You have to do you Homework.
Once you have some idea of the kind of car you like, do your homework on that car. The first thing you need to find out is how much it costs to buy a brand new version of that car from a dealership. Do they still make the car today, and will it be easy to get parts for the car if you need to source them later down the track? You'll have to get out there, or jump online, and find similar cars for sale so you can compare the prices. If the price of the car you want to buy seems to good to be true when compared to similar cars, chances are it is. There may be expensive faults factored into the discounted price. If you think the car is over-priced compared to other examples you've looked at, simply as the seller why he priced it the way he did.
2. Second Hand Cars Lose Value Over Time.
New cars lose their value rapidly; a 3 year old car is 30% less valuable than it was when it was first purchased and after 5 years its value may have declined by a further 35% from the original purchase price. Having researched the price of a brand new version of your desired second hand car, you can apply these figures to help you work out the value of a second hand vehicle.
3. Check Third-Party Guides.
Check out the history of your chosen vehicle with Car Fax. You can use Car Fax to find detailed descriptions and information about the used car you're looking to buy. They offer information including data from insurance companies and statistics about safety and accidents.
If you need a comprehensive list of used car values, take a look at Kelly Blue Book. They have hundreds of used car values on their list.
4. Get a Mechanic to Look it Over.
Of course the value of a used car has a lot to do with is condition and how well it runs. We can't all be mechanics, so if you don't understand what makes a car tick, have a qualified person accompany you to check that everything is in order under the hood. Be careful, because there are those out there who will try and convince you to buy a car that isn't in working order. Don't let sellers like these rip you off. If you can find a dealer with a happy client base and a great reputation, you won't have too much trouble. Ask the advice of friends and family; they've all been in your position and their advice in evaluating a car dealership can be invaluable.
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