With new cars coming at a premium and quality standards rising, it pays to buy a used vehicle. Along with lower costs, though, come increased risks. If you’re planning to purchase a used vehicle, whether privately or through a dealership, keep reading for great tips on how to buy one.
1. Research Prices
Before purchasing any used vehicle, always research the car’s standard book value. You can use the Kelley Blue Book or sites like NadaGuides.com to get an idea of a car’s price based on its make, model, year and even mileage.
Do your own research in your area by checking classifieds, online and offline, for similar cars with similar mileage. By having a broader idea of what’s available on the market, you’re less likely to be overcharged.
2. Research the Car’s Fuel Economy
With gas prices rising, it’s important to investigate a vehicle’s fuel economy. While you want a car that fits your lifestyle, you don’t need your wallet to be tied to the pumps.
The U.S. government offers a free site at fueleconomy.gov that allows you to enter the make, year and model of a vehicle to find out its mileage rate. You can even compare a variety of vehicles side-by-side.
3. Have the Vehicle Inspected
Always ask if you can have the car inspected by a third-party mechanic or technician. If the seller is unwilling to allow you to have the car professionally assessed, then walk away from the sale.
4. Ask about the Car’s History
Find out if the car was in any accidents or floods. When it comes to flood damage, look for water stain, mildew or oxidation on the vehicle, keeping a particular eye out for rust under the hood.
5. Get Your Papers in Order
Conduct a title search on the vehicle and always ask to see all the paperwork associated with the vehicle. You may need the car’s VIN or a requester code, depending on your state, but a title search will tell you the car’s full ownership history.
A CARFAX vehicle history report will also show you if the car’s been recalled, severely damaged, failed an auto emission inspection, or been involved in any accidents that were reported to an insurance company.
6. Trust Your Instincts
If a deal on a used car sounds too good to be true, it probably is. Be wary of vehicle deals that are too sweet and try to keep your feet on the ground when making such an expensive decision.