To most people, buying a used car is smart business. Others scorn at such an idea and prefer buying brand new cars from the local dealership. As the economy improves, the demand for new cars has also increased significantly. Nevertheless, this hasn’t impacted the demand for used cars negatively.
However, many people make costly mistakes while buying used cars.
Some of the most common mistakes include:
Failing to prepare financially
Used cars are cheaper compared to brand new cars. Nevertheless, you cannot buy even a used car without money. Therefore, take time to prepare yourself financially.
Basing the purchase purely on monthly payments
If you are making monthly payments, be aware that the lower the payment amount, the longer the payment term and the greater cost to finance for you.
Failing to test the car
It’s dangerous to buy and leave with a car that you have not taken through a test drive. Close to 20 percent of people who buy used cars never test them. First time buyers, on the other hand, never forget or forego any opportunity they get for testing the new cars they desire to buy. In fact, research shows they test drive on average more than seven cars before settling on the one to buy.
Failing to hire a mechanic to check it
Always hire a mechanic to check the car thoroughly before you pay for it. Test driving the car is different from asking a mechanic to evaluate it thoroughly. It’s good to ask for the mechanic’s opinion first before finalizing the deal to buy the car. The mechanic knows more about cars than you do.
Basing the purchase on looks and not need
Do you need that car? That’s the first question you ought to ask. Never buy a car because you love its looks. Never buy a car because it is aesthetically pleasing. Buy a car based on the needs you want it to help you meet. Understand your needs first. Thereafter, proceed to search for the car that can meet those needs to your satisfaction.
Not asking for a detailed vehicle history report
Lastly, do not forget to ask for a thorough vehicle history report before paying for it. Such a report will provide details that the seller might be unwilling to share with you. For example, the report will show you the accidents the car has been involved in and problems it has encountered over the years.
Here at Howie’s Car Corral, we not only inspect all our vehicles before they go on the lot, but we also provide you with a ‘Carproof’ report so you can feel confident about your car’s history.