Tips On How To Buy A Used Car Cheaply
The high level of depreciation that new vehicles undergo has made it attractive to buy used cars. Studies have shown that new cars depreciate by 10% the same day they leave the garage, and within one year, it loses over 20% of their value. Within three years the vehicle is worth about 60% of their original value. In order to be safe from such depreciation, many car buyers prefer to find a used vehicle.
Cars whose age lies between one to three years are still good to go for more years and you are likely to get one whose manufacturer’s warranty is still intact. The used car market is bigger than the market for new cars, and that means you will easily get the car of your dreams. If you want a cheap used car; the following tips can come handy.
Do sufficient research online to find a reliable used car dealer. Be clear on the model and make of the car you are interested in buying and find out about the estimated cost of getting the vehicle in your area. Check the features and mileage of the used vehicles.
Visiting the used car dealership is another important step after being certain of the vehicle you are looking for. Check everything in the car,test drive it and find out if all the information the seller gave you about the car are true. Check the used car history report and verify that the odometer is functioning well. See if the report has records of damage by accidents or floods and the previous owners of the vehicle.
Looking for private sellers is another option that can save you some money and you get a vehicle in good shape. Most of the used car dealerships will charge you at least 10% more than the cost of buying from private sellers. The deals from private sellers in most cases are lucrative because they could be moving out or buying a new vehicle. However, it is still important that you follow the right procedure for buying a used vehicle from a private seller. Insure the vehicle once you have purchased it from the dealer. When looking for a used car dealership, it is recommended that you work with a trusted dealer whose past customers are satisfied with their services.