Many people are a bit frightened by the idea of buying a used car, but in all honesty, the auto industry is (finally) in a pretty good place right now and used car sales are more popular than ever. If you don’t know where to start, here are a few tips on how to buy a used car:
- Even though you can never be absolutely certain of how well a car’s previous owner treated it, trustworthy used car dealers usually provide a comprehensive history report regarding any damages the car may have had (or may still have), as well as any repairs that have been done on the vehicle. Some used car dealers will advertise car sales “as is,” meaning that any damages to the car won’t be fixed before the car is sold, so it’s important to pay attention if you’re buying a used car and you hear this phrase thrown out.
- Generally, it’s a bit harder to finance used cars than it is to finance new cars, simply because new car dealers tend to offer a greater variety of flexible payment plans. That being said, pre owned cars are almost always much cheaper than new cars, and it’s possible to get reasonable loans or financing options if you have a credit score and credit history. If a car is older than four or five years, or if your credit score is below 650, you might have a tougher time finding a loan through a bank.
- If you’re still a bit hesitant about buying a used car because of the possible repairs that will be necessary, investing in an extended warranty plan can definitely help put you at ease. The average lifespan of a car is about 11 years, but it’s expected that cars will need some basic maintenance after a few years, and after about three or four years, the manufacturer’s original repair warranty will run out.
Now we’re turning the conversation over to you — what tips would give to someone buying a used car? Be sure to share your tips and tricks in the comments section! More.