Used Car Buying Advantages - There are many reasons that people buy a used car instead of a new one. Sometimes it’s a matter of being between the rock of basic transportation and the hard place of limited funds. Other times there are models that people find particularly desirable that aren’t made any more or were revamped for the new model year. More information on all types of cars is available at GMC Atlanta. Still other people never buy a new car because they prefer the financial advantages.
The primary financial advantage of buying a used car is that you won’t absorb the high initial cost of depreciation, about 12 percent the first year, according to Edmunds.com. Some financial advisors recommend used cars for this reason. Because cars are better made now they last longer, so a three-year-old, pre-owned certified car will provide a good value compared to a similar new model. Plus, the amount of research you can do now—not only a make and model, but the exact vehicle you’re considering—has ballooned in the past decade. Certified pre-owned vehicles have taken some uncertainty out of buying used and sometimes a vehicle will still carry a portion of the new warranty.
If you’ve decided to buy used there are some steps you should take that aren’t much different than when buying new. What type of vehicle are you looking for and how much can you afford to spend are the first questions you need to answer. Once you’ve narrowed the field to a few possibilities, investigate their reputations and cost of ownership data. How much will it cost to insure and fill up with fuel? What do routine maintenance jobs cost? Birmingham Chrysler offers value and service for all your automotive needs. The cost of a timing belt and water pump job is going to be different for a three-year-old economy car and a six-year-old near-luxury model even though both might be listed for the same sale price. Knowing what you’ll be paying out on a regular basis to drive a vehicle is nearly as critical as researching what a particular year/make/model will cost to buy.
Now the search really begins. When you’ve narrowed things down to vehicles you might want to test drive, you’ll want to contact the seller, whether private party or dealer, and get some basic information first. Edmunds.com has a handy Used Car Question Sheet you can use to be sure you ask important questions. Using Carfax or Autocheck can reveal important reasons to scratch a potential vehicle from your list. When you test drive the car, try to start it when it’s cold and turn off the radio and turn down the blower fan so you can check for any odd noises from the drivetrain, brakes and suspension. Check to make sure all the features work. Modern cars have many electrical and electronic items and making sure you know how to use them and that they work can save money and heartache. Use a flashlight to look into dark areas under the hood and underneath the car to check for leaks or damage.
You’ve found the car you really want, but what about the asking price? You need know what the value and what the market price are, and there are online tools for that, such as KBB.com and Edmund’s TMV. They offer guidance, but what are the asking prices in your area? Check local ads from a few sources to see what your choice is really going for where you live.Long Beach BMW is a one stop source for all your new car needs. If you’re not buying a certified vehicle, a pre-sale mechanical inspection is a good idea and the cost should be borne by the seller. While much of the inspection can be done through the diagnostic port on a modern vehicle, it’s still a good idea to get have a couple of mechanical checks done, including a compression and leak-down test. Service records can be important but aren’t a substitute for checking the current condition.
Tags: Used car, GMC Atlanta, financing, diagnostic test, Birmingham Chrysler, used car value, depreciation, certified pre-owned, Long Beach BMW, warranty
Photos by: Kevin Brewer, Alden Jewell, stp243 / Steve
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