You’re in the market for a car, but, unfortunately, your budget precludes you from buying a 2013 Ferrari F12 Berlinetta or the latest Lexus RX 350 or any other car whose name mixes letters and numbers. So, it’s off to the used-car lot, or searching the classified ads for a vehicle with few miles on it.
How do you keep from buying a lemon? First, plan your financing. Be sure that you find a reliable and reputable company. Some former buy here pay here lots have changed to allow different payment options. Once you have an idea on how you want to finance your car, it’s time to actually find your car. Although buying a used car has its mechanical risks, financially it might be a smart thing to do. According to The Art of Manliness, there isn’t a lot of difference between a brand new car and a two-year-old car because if you decide to sell a new car after only a few years, the value depreciates a lot.
(Also, you might finally be able to own your Ferrari. It might be an older model with more than a few miles on it, but it’s still a Ferrari.)
Get Certified
If you’re buying from a dealer, consider a certified pre-owned car, which are vigorously inspected before they are put on sale. Of course, buying from a private owner might involve easier transactions with someone who’s not trained in the fine art of high-pressure salesmanship.
Whatever you decide, the DMV has a used-car work sheet with dozens of items to check off when looking at a used car. DMV.org suggests bringing a notebook and pen for taking notes and recording the vehicle identification number, mileage and asking price and items such as a small flashlight and a small magnet for detecting concealed body work.
What to Look For
The prospective owner should check the windshield (making sure it’s free of cracks) and examine the paint job, seams and whether there are body scratches and dents. The tires should be all of the same make with a tread that’s worn evenly. Also, make sure the spare tire is inflated.
The engine should be free of fluid or oil leaks and the battery terminals free of corrosion. The vehicle also should be free of odors while the engine is running. Don’t forget to look at the interior. Check the stereo, heater, windshield wipers, power windows, gauges and seat belts, and make sure no dashboard warnings lights remain illuminated.
If the vehicle has an automatic transmission, check if the fluid looks clean or if the transmission slips or delays when driving. If it has a manual or standard transmission, each gear should shift smoothly and there should be no grinding noises when in reverse.
Pump the Brakes
There are many more check-list items at DMV.org, but it particularly cautions against feeling rushed while inspecting the vehicle. You should get a mechanic, too, to assess check-list results, and use any flaws against the asking price. Maybe most importantly: Walk away if the seller objects to your inspection. After all, it’s your money.
See Also:
- Car Insurance Savings That Most Drivers Overlook
- High Performance Savings Accounts
- What You Need to Know About Deducting Travel Expenses
- 7 Fuel Efficient Cars Under $20,000
- Top 10- Nicest Affordable Cars
Buying a Used Car Tips from Amazon:
- Insider’s Guide to Buying a New or Used Car
- Consumer Reports: Used Car Buying Guide Best & Worst Used Cars
- The Secrets of Car Flipping: A Step by Step Guide For Buying and Selling Used Cars
- Car Buying Revealed: How to Buy a Car and Not Get Taken for a
Ride
Image courtesy of  chainat/ FreeDigitalPhotos.net
