How To Make Sure You’re Not Overpaying For A Used Car
Shopping for a used car can be difficult. There’s a great deal of variety and complexity to navigate, and in many cases, you might not be benefiting from the protections that buyers of new cars might enjoy.
With that said, the used car market can provide tremendous value – mostly because it allows a buyer to avoid the depreciation that comes with the purchase of a new car. Let’s take a look at a few essential tips for getting maximum value for your money.
Do Your Research on Car Prices
If you haven’t done your research, then you’ll be incapable of distinguishing a good deal from a bad one. Make sure that you narrow your options down to the handful of models that best fit your needs, and then develop a deep knowledge of how those models might be priced. Look at how the price varies according to factors like age, mileage, and condition. You can look up prices with the help of tools like the AA, or Parker’s Price Guide.
Inspect the Vehicle’s History
It’s critical that you understand the history of the vehicle. It might be that it’s been through an ordeal or two, and knowing about this might give you the leverage you need to negotiate a discount (or a reason to walk away from the deal entirely).
An MOT history check should be considered a bare minimum as far as research is concerned. It will provide you with an overview of the car’s history. From this, you’ll be able to work out just how roadworthy it really is.
Check for Hidden Costs: Tax, Insurance, and Running Costs
When you buy a car, you’ll not only have to think about the list price you’ll be charged upfront. You’ll also need to consider the ongoing costs that come with keeping a vehicle on the road. These might include things like road tax, insurance, and fuel efficiency. Often, newer cars are cheaper to run – which might justify paying a higher price tag. Work out how many miles you’re doing, and how much a given change in fuel efficiency or reliability is worth to you.
Inspect the Car Thoroughly or Hire a Professional
When you buy second-hand, it’s absolutely essential that you inspect the vehicle in person. Dealers might be able to gamble by buying a car based on a photo; ordinary motorists should always take a look themselves. Bringing in a professional mechanic might be even better, since they’ll be able to spot defects and sticking points that might have escaped you.
Look for Warning Signs of a Car That’s Priced Too Low
When a deal seems too good to be true, generally speaking, it’s because there are hidden costs that you aren’t aware of. Be extra vigilant when looking for defects in a low-priced car. If there are signs that the car has suffered neglect, it might be time to walk away from the deal.
