Tips for Buying Used Cars
Are you in the market for a used car? If so, it is likely that you are overwhelmed with all of the options. You may also be wondering how you are going to get a car loan to purchase a used vehicle. There are some steps that you can take in order to make the search for used cars much more tolerable.
How High of a Payment can you Make?
When searching for a vehicle the first thing that you should do is to consider how much of a payment you will be able to afford. Typically, the rule of thumb is that a car payment should not be more than 20% of your monthly take home pay. Many people make the mistake of shopping for a vehicle with their hearts instead of their head. Before you start shopping for a car you should know the amount that you can afford so you can avoid falling in love with one that you will not be able to afford.
Make a List
The next step you should take is to make a list of potential used cars. You should consider buying a vehicle that is from a less popular, but reliable manufacturer. Toyota Camry’s and Honda Accords are extremely popular and will typically cost thousands more than a comparable Nissan Altima or Chevrolet Malibu. These cars are quite reliable and good as well. You should build a list of at least 3 different cars that are within your budget and ones that meet your needs.
Check Prices and Read Reviews
One of the ways to see if a vehicle falls into your budget is to check the true market value prices. These will show you what people in the area are paying for that particular car. There are some sites that will allow you to read reviews about the different types of cars that you are considering. These reviews can be extremely helpful when you are considering the different types of used cars that are available. In addition, you will learn more about the car that you may want.
Locating Used Car Dealers
You can start searching for the cars that you are interested in by going to different dealerships in your area. Most of the local dealerships will have websites where you can review their inventory online. This makes the entire process much easier as you will be able to see if they currently have the car on their lot that you want. You will also be able to see if they are selling the vehicle at a price that you can afford.
Vehicle History Report
The final thing that you need to do before contacting the seller is to check the vehicle history report. Carfax is one of the most popular ways to get an entire report about the history of any vehicle that you are considering.
Used cars can be a great option if you take the time to do a bit of research beforehand.