If you’re looking to save money when buying your next car, a used model is going to be your best option. It’s possible to find used cars in exceptional condition for just a fraction of the price you’d have to pay if it was brand new. However, while you can save a significant amount of money, there is some risk involved when you’re buying second-hand.
Here we’ll look at some of the top things you need to consider before buying a used car. These will ensure you bag yourself a bargain, without getting stung.
How much will it cost to run?
The great thing about used cars is the fact they come at a bargain low initial cost. However, the problem with this is that it’s easy forget about the other costs involved. You get so caught up in the unbelievably low price tag that you fail to check whether the running costs will be higher than anticipated.
As cars age, they become more expensive to repair and maintain. This is especially true with the sportier and luxury brands of car. So, before committing you need to work out all of the costs that will be involved including insurance and tax.
Should you buy privately or through a dealer?
Both of these options have their own list of pros and cons. Buying privately can be much cheaper, but it also carries more of a risk. Private sellers aren’t always forthcoming with any potential issues that may be wrong with the vehicle. So, you’ll need to make sure you have a full assessment carried out by a mechanic before you agree to buy.
Dealerships tend to be more reliable and there’s also room to haggle on the price. You can also compare the best prices in your location to make sure you are getting value for money. If there’s a problem with the vehicle, you can always take it back as most dealerships offer a time-limited guarantee.
Never buy before you’ve seen the car
If you’re desperate for a car, when you find one listed at an incredible price it’s tempting to just buy it there and then. However, it’s essential that you actually go and view the car before you agree to buy.
Unfortunately, not all sellers can be trusted so you need to actually see what you’ll be getting and whether it’s the same as the pictures.
Overall, buying a used car can make a lot of financial sense. However, it’s important to follow the advice above and do as much research as you can before you buy.