In the current economic downturn, many people are wisely opting for buying a good used car rather than a new car. As more and more people struggle to meet their monthly repayments, they are forced to sell their nearly new cars and at any given moment there are therefore a lot of used cars for sale.
The onus is on you to make sure you get what you think you’re getting when buying a used car. Check out the upholstery and the paintwork. Make sure there are no patched up spots of rust or accident damage. If you find something that you don’t like, don’t part with your cash. Rather wait for a better deal.
You can of course buy a used car from a car dealer. This has its advantages and disadvantages. Normally the dealer will check the car and make sure any defects are fixed before putting it on the floor for sale. A reputable dealer wants to maintain his good standing with the banks who are financing his deals, so he would not knowingly sell you a car with defects.
On the other hand, a dealer is a businessman; he can’t sell the cars for the same price he pays for them. So you will pay more for the car than when you buy it from the owner. The peace of mind that comes from buying from a well-know dealership might be worth the extra cost though.
Your second alternative is to browse through all the offline and online classifieds in your area to find the car of your dreams. You will be cutting out the middle man and buying from the owner himself. You will therefore normally pay much less (unless you are a very inept buyer), but you will also have to be highly vigilant. If you have no technical knowledge, take a car mechanic or a friend with technical knowledge with you to inspect the car both inside and outside.
Also study the car’s paperwork. Make sure it actually belongs to the guy who wants to sell it! Ask for proof that he has in fact paid for the vehicle. Many people get in arrears with their monthly repayments and then they try to sell their cars without the bank’s knowledge. In a situation like this the bank can repossess the car and you will be left high and dry with no car and no money.
The fact that there are thousands upon thousands of used cars for sale at any given moment makes it a buyer’s market. You can afford to take your time and to walk away from a few bad deals before you find the one that’s just right for you.
Ryan Array comes from Humble, TX. He has written a number of articles on Used Car . Please also check out his other guide on used car rates tips, and used cars dealerships guide!
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