How To Buy A Used Car With Pictures

The amount of your monthly payment varies depending on the term of the loan, the total purchase price of the car, and your credit score. Generally, your monthly payment shouldn’t be more than 20 percent of your monthly income. [3] X Research source Factor in insurance premiums, maintenance, and fuel costs. Import and luxury cars generally have higher average yearly maintenance costs. Sports cars and other high-performance vehicles typically cost more to insure.

Looking at how much a car sells for new can give you some idea of what that car might cost used. For example, if you’re looking at a new car that costs $20,000, you can safely assume that a 5-year-old of the same model would cost around $10,000.

It’s mostly the mileage (number of miles or kilometers the car has been driven) that determines the price of a used car. For example, a 2-year-old car with only 20,000 miles (32,000 km) on it would be more expensive than a 2-year-old car with 100,000 miles (160,000 km) on it, everything else being equal. Demand for a car can also affect the cost of used cars. For example, if you live in a mountainous area and SUVs are extremely popular, you’re not likely to get a good deal on an SUV locally because sellers know somebody will eventually buy the vehicle at whatever price they want.

Renting a car for even a single day can alert you to issues you wouldn’t notice on a 10-minute test drive. It also gives you the opportunity to drive the car along your normal routes to work or school. If you have friends or family members who have that car, you can also ask their opinion on the car. You might even be able to drive theirs to try it out, which could save you some time and money.

You can also expand your search nationwide or search in larger regional areas to look at how local demand might affect the price of cars in your area. Some cars listed on these sites are for sale by individual owners, but most are listed by dealers. The contact information for the seller is included with the listing. There are other websites, such as Carvana and Vroom, that will sell you a car completely online and deliver it to you. [8] X Research source

Some dealers focus exclusively on used cars. New car dealerships are typically associated with a particular car manufacturer. Their used car offerings may be mostly from that manufacturer, but they’ll also have other cars that customers have traded in.

You might also try AutoTempest. This aggregator site pulls Craigslist car ads from multiple areas so you don’t have to search Craigslist multiple times. You might be able to find a better deal if you’re willing and able to travel a short distance to get the car. Be cautious when buying directly from an individual. Bring a friend with you if you go to look at the car, and to meet the person during the day in a public place.

Certified cars typically come with a limited warranty that will cover the cost of major repairs for 2 or 3 years. You’ll likely pay a little bit more for a certified car than one of the same age that hasn’t been certified. However, if you can fit it into your budget, the peace of mind may be worth spending a little more.

This is the time to be nitpicky. Any damages you see, no matter how small, can be used to negotiate a lower price on the vehicle. Consider the car’s age and mileage when evaluating normal wear and tear. For example, if you’re looking at a car that is 10 years old and has over 100,000 miles (160,000 km) on it, you would expect the gear shift and steering wheel to show signs of wear. Body damage also may be an indication that the car was wrecked and not properly repaired afterward.

In addition to paying attention to mechanical issues, consider whether you feel comfortable in the car. You should be able to adjust the seat so that you can reach the pedals and gears and see out of all the mirrors.

If you’re buying the car directly from the owner, don’t take the car to the mechanic the owner recommends. They may have a deal with the owner to downplay or fail to report serious problems with the car.

Look at the VIN (Vehicle Identification Number) listed on the title. Compare it to the VIN on the car and make sure they match. Watch out for title brands, such as “salvage” or “flood vehicle” titles. These indicate that the car has extensive damage. Salvage vehicles cannot be registered in your name until they are rebuilt. However, even a car with a “rebuilt salvage” title isn’t necessarily in drivable condition – this simply means that it has all its parts.

In the US, you can order a title history record from one of the vendors listed at https://www. vehiclehistory. gov/nmvtis_vehiclehistory. html. These are private companies so the cost of the report varies. Some vendors provide more detailed reports than others. If issues show up in the title history record but you still want to buy the car, use that information to negotiate a lower purchase price.

The information in these reports also impacts the final price of the car. For example, a car that has only had 1 owner, no accidents, and was serviced regularly would tend to be more expensive than an identical car that had several owners and had been involved in a couple of fender benders. Some dealers and individual sellers offer these reports to potential buyers for free. If it isn’t offered, you might ask them if they would deduct the cost of the report from the purchase price of the car.

For example, maybe the car is a great value at a fair price, but it’s not the color you want. You might say something like “I am really interested in this car, I just wish it wasn’t blue. This is the same color as my ex’s car. Of course, if you were willing to knock a little off the price, that might be something I could get past. " If your mechanic indicated that major repairs will be needed within the next month or so, you can use this to get a significant discount. For example, you might say “My mechanic noticed problems with the power steering and estimates $800 to repair it. So how about I pay you $7,200 instead of $8,000?” You can also negotiate for various add-ons instead of a lower price. For example, you might say “Since $8,000 is your final offer, would you be willing to throw in an oil change and new floor mats?”

Some used car dealers will tell you something like “If you have any problems within the next month, just bring it back here and we’ll fix it for free. " However, if they’re not willing to put that in writing, you’ll have no way to enforce it. If you do need to bring the car in, they’ll likely claim they never said any such thing and you’ll be stuck with the bill. If the dealer or seller offers a return policy, that should also be in writing. The dealer may say “Drive it for a week. If you decide you don’t want it you can bring it back no questions asked. " If that’s not in writing, you may be stuck with a car you don’t want.

Check for any blank spaces in the contract. Some disreputable dealers will have you sign a contract with blanks, claiming they don’t want to waste your time and they’ll fill them in later. Invariably, the information filled in is different from what the dealer promised you. But with your signature on the contract, there’s nothing you can do about it. If financing is provided by the dealer, make sure you understand the interest rate and term of the loan. Find out if there are any penalties for paying off the loan early. If you buy your car directly from the owner, you typically won’t have a formal written contract or bill of sale. However, if the owner has promised to do anything for you, make sure you get that in writing so you can enforce it in court if necessary.

You can typically add the car to your insurance before you purchase it. If for some reason you end up not going through with the purchase, you can just take it off. If you have the car financed, check the finance agreement for insurance requirements. Lenders typically require you to maintain full coverage on financed vehicles.

If you buy the car from a dealer, they typically will take care of the title transfer and registration for you. The taxes and fees for registration and title transfer will be added to your purchase price. However, if you’re buying from an individual owner, you’ll need to take care of all of this yourself. If your car is financed, your lender will be listed as a lien holder on the title. Most lenders hold the title until the loan is paid off, then they send you a title without a lien holder listed.