ALT-1 Things to consider when Buying a used Car
Reliable transportation is extremely important for a multitude of reasons and possessing your own car is the best way to be sure you can be where you need to when you need to. However, running out and purchasing a brand new car is just not on everyone’s horizon. Used cars can provide a more affordable option, but there are a few things to consider before buying one.
The first place to begin when looking for a used car is your budget. How much money do you actually have to work with? Does that amount include tax, title, license and insurance? Does your state require a brake tag or other type of safety sticker? If the car needs something right away such as new tires, will you be able to purchase them?
Most used cars will likely need an oil change and a new battery just for your own peace of mind, but there may be some other expenses early on that you haven’t considered. Be sure that you don’t use your entire budget on the car’s purchase or you may end up in a bind before you’ve had a chance to really drive it.
Once you have determined what you can afford to spend, the next question is to ask yourself is what you need in a car. Will you have often have passengers? Do you often need to haul stuff around? If the car you are considering doesn’t have a hatch back, does the back seat at least go down? Does it even have a back seat? Are you the kind of person who will practically be living out of their car?
Next, consider the potential age of the used car you plan to purchase. Older cars will have more mileage, which could mean a great deal of wear and tear, but there are still some early model cars on the road that were built to last that are worthy of considering, especially if they have been well kept up by their owners. One drawback of older cars however, is the limited availability of replacement parts; another is the equally limited availability of qualified mechanics that are able to repair them.
One other consideration with the age of a car is the potential cost of insuring it. When deciding on any car, used or new, it is always a good idea to try and get an idea of what kind of coverage your state requires as well as a quote on what the insurance would be for the car in question. Also, cars that are certified as “pre-owned” are not that old and are not that much less in price than new cars. The same goes for cars sold from the fleets of rental car agencies; they are not kept very long and aren’t necessarily going to be that much of a bargain.
If a used car is being sold “as is” by an individual or a dealer it more than likely means that the owner was unable or unwilling to fix the car’s existing mechanical problems. This doesn’t mean that the car isn’t worth purchasing, just that it wasn’t cost effective to either the owner or the dealer to repair it. If a car doesn’t look so great on the outside, but runs well and seems pretty sound under the hood, it might not be a bad investment, particularly if it is something just to have in the short term until you can get something better.
With an “as is” car the problem could be something minor or it could be something major. It is always a good idea to have a car checked out by a reliable mechanic before making the decision to purchase it. In the instance where a car does have minor mechanical problems, and you are able to get it at a very good price, be sure to get a few estimates on what it would cost to have the repairs done before you make your final decision on whether or not to purchase it.
There are a number of ways of acquiring a used car. You can purchase one from a private owner, from a used car lot, or from a charitable organization. Almost everyone shopping for a used car dreams of getting one that was owned by a little old lady who primarily drove it to church and the grocery store; those finds are few and far between, and there is little legal protection when buying a used car from an individual owner.
Charitable organizations often fix up donated cars and re-sell them, but the repairs they make are minimal and the cars are sold without warranty. A commercial car lot comes with a little more buyer protection, but the warranties offered are very limited and lemon laws vary from state to state.
Buying a used car requires a lot of thoughtful consideration and isn’t something to rush into. It is also a financial commitment that will require ongoing additional investment to keep the car well-maintained in order to get the longest possible use of it. The best way to insure a good outcome from a used car purchase is to be sure all due diligence has been met.
