Considerations when Buying a Used Car
You’re looking for a used car, either because you can’t afford to buy a new one or you just don’t want to invest the money in something that will depreciate as soon as it leaves the showroom. Maybe you know you’ll be looking for Greeley CO Poor Credit used car loans because you need a car, but you can’t afford the high prices. Regardless, if you are looking for a used car, keep the following things in mind.
How Much Can You Afford?
According to Edmunds, some 40 million used cars sell every year. Some used cars can be as expensive or even more expensive as some new cars, so if you’re on a budget, don’t think that because it is used, it is priced within your budget. You need to know how much you can spend on a car and if you have enough credit to get a loan if you’re not paying for the car outright. You may be looking for Greeley CO Poor Credit used car loans if you live in Greeley, Colorado. If you do get a car loan, it’s best to not have a payment more than 20 percent your actual take home pay.
Decide on the Make and Model Beforehand
When you go shopping for a car – or any vehicle – you should have an idea what you are looking for in an automobile. Maybe you’re looking for something to carry the family around, or maybe you need four wheel drive. Whatever the features your car needs to have, you should have them defined before looking for a used automobile. This should also include the make and model of the car you’re considering, as well as what features are a must have, versus features that are nice to have. In this way, you can find the car you’ve always wanted. Always come up with second and third choices too. Sometimes you may not find the right car in your first choice, but in your second choice.
Always Get a Vehicle History Report
When you find your perfect car, you need to have a vehicle history report such as a CARFAX run on the car. The reason is that you will need to know if the car had been totaled at one time or if there is problems with the title (both red flags). You will learn more about your car in this fashion and it’s a relatively cheap piece of insurance that can point to possible issues down the road.
Take Your Prospective Car for a Test Drive
Always test drive your car before purchasing it. A test drive may alert you to problems with the car such as engine, transmission, or suspension. Also check the systems such as the lights, signals, heat, air conditioning, and anything electrical. If they all work to your satisfaction and you like the car, you may become more serious about the car.
Always Have a Mechanical Inspection
Having an inspection done by a mechanic of your choice is imperative. Your mechanic can often discover issues that might be deal breakers when it comes to the car such as low compression (that signals the engine is bad) or other costly fixes. While it might be disappointing to have to continue looking for the right car, it’s better than having a broken car you just paid for.