Buying a used car can be a great way to keep costs down, as you can source pretty much any make or model of car for a cheaper price than buying new. With this though comes a number of key considerations as you shouldn’t just purchase the first used vehicle you see.
To take you through this process, what follows in this post is several examples of the key aspects you need to think about, to ensure you buy the right used car for the best price.
Firstly, you should think about what you intend to use the car for to help narrow down your buying options. If for instance you’re going to use the car as a runabout, then something small and practical is your best bet. Alternatively, if you’re doing long commutes or transporting the family around, an estate or SUV is a smart choice.
If you plan on selling the car in the future, you might want to look at how much the car is likely to depreciation in value. Some cars are affected more severely by this, so if you have some models in mind, look at the age and mileage and the average costs over the last few years to help you work out how much your next used car might be worth a few years down the line.
On top of the initial investment, you should take into account the running costs. Take a look at the MPG and the size of the fuel tank to see work out roughly how often you’ll need to fill up. What’s more, get some quotes for insurance as well, as this is another running expense which could catch you out.
You should also enquire with the dealer about the vehicle history. Find out as much as you can to make sure nothing suspicious has happened to the car – such as major repairs or accidents – to determine whether or not the car has been looked after.
Lastly, you need to think about how you’re going to pay for the used car you want to purchase. If you’re not paying upfront for it, you need to work out how much can you realistically afford to pay back each month on a finance plan, or on a bank loan.
So, make sure you go through this useful checklist of steps and soon you could find the right used car for your driving needs.