Looking to buy or get into an auto loan for a used car? With a lot of choices in the market today, searching for the right car to suit your tastes and preferences can be a challenge. Hence experts shared some great tips to help you find and buy your perfect used car.
Factors To Consider
Budget – If you want to take out a lot so you can pay for your car, make sure that your car payments must not be more than 20% of your take-home pay. And when you are sticking to a limited budget or with bad credit, consider spending even less. Used cars will need a bit of attention from time to time, such as new tires. You also need to account for insurance and fuel. In case the car you wish to buy is out of warranty, you need to set aside a fund to cover for all unexpected repairs.
Have a target list – There are plenty of good cars for you to choose from. But some can cost a few thousand more than the others. So if you want to save money, check out various brands. Make a list of 3 cars that will satisfy your needs and is within your budget.
Check the prices – The price can vary in location or where you are shopping. Oftentimes, private-party cars will have the lowest selling price.
Look into the used cars for sale within your area – Filter your search by many different factors like its price and features, the miles on the odometer of the car, and the distance of the dealer from you. To save time, you can use the websites for other marketplaces or if your planning a car loan, you can use loan calculators to help you estimate the cost.
Read through the vehicle history report – Unless you are getting the car from a family member or a close friend who can guarantee its history, you need to obtain a vehicle history report. This is a very crucial step. This report will reveal significant information about the car.
Speak with the seller or dealers about loan rates – Calling the seller must be done first before running out to see the prospective car. This is an excellent way of establishing a good relationship with the seller and of verifying the car’s information. There are instances wherein the seller may say something that is not provided in the ad – and this may change your decision.
Test-drive the car – This is the best way of knowing if this is the right car model and make for you. This will also help you in assessing the car’s condition. Hence, you need to focus on the car. Determine if you can easily get in and out without banging your head, if there is enough legroom and headroom, if you can see a lit check engine light, and if the air-conditioning system blows cold. You must also use your nose. Do you smell burning oil, gas or anything amiss?
Aside from these, you must also let an expert check the car to make sure that it is really is a good fit to you. You should also take note of your credit score which is affected by how you manage your credit card spending or getting into business loans or any other personal loans. Having a good credit score will help a lot in getting into a car easier.