Mammoth AwardsHaving reliable transportation is a must if you need to go to work, get your kids to school, or run errands. Contrary to popular belief, a car doesn’t have to be new to provide reliable transportation. There are many used cars on the market with low miles, warranties, and in excellent condition that can fill your transportation needs. They may present pitfalls, however, which the following tips should help you avoid.
1. Shop when used car deals are hot.
You can’t always plan when you need to buy a used car. Your old one may have broken down, triggering the need for an immediate replacement. But if you can be a bit strategic when making your purchase, these are the best times to snag a great used car deal:
- Holidays like the Fourth of July, Labor Day, and Memorial Day when dealerships hold massive sales events.
- The end of months and quarters when dealerships’ sales teams need to meet their goals.
- At the end of model years (near September and October) when dealerships need to clear out used stock to make space for new arrivals.
- On weekdays when car lots are less crowded, and you can get more assistance from salespeople.
If you can wait to make your used car purchase, mark your calendar with those dates listed above.
2. Know the car’s value.
Unless you’re a car expert or work for a dealership, you probably don’t know what each car is worth. Luckily, you don’t have to, as several online services can handle that task for you.
You can gain some negotiating power by knowing a car’s value through sites like Edmunds, Kelley Blue Book, and Carfax. At the very least, you’ll know whether you’re overpaying for a car so you can avoid getting ripped off.
3. Shop trusted sources.
You have plenty of options when it comes to buying a used car. You can visit local lots and do it the old fashioned way. You can go online to see what’s available and in your price range. You can also buy from private sellers.
What’s the best way to buy a used car? That depends on several factors. But if you’re looking for peace of mind, you may want to visit a large franchised dealership. Their vehicles may be in better condition. Buy one that’s certified pre-owned, and you can even get a warranty so you don’t have to worry about repairs that can come with a car’s age.
If you’re worried about lemons, steer clear of smaller independent lots. Even though they may offer lower prices, your risk of getting a not-so-great deal is higher. And if you finance through them, you could be looking at high interest rates.
Taking the private seller route can land you a lower-priced vehicle. If this is your preferred option, don’t forget to do the following:
- Get a Carfax report.
- Ask about the car’s history and maintenance.
- Make sure the title is clear.
- Have your mechanic inspect the vehicle.
