Things To Know When Buying a Used Vehicle

 

Buying a used vehicle has some risks, but the savings could allow you to get into a nicer car than if you bought a brand new model. Taking proper precautions can negate almost any risk of purchasing a used vehicle. Here's what you need to know before you sign on the dotted line and leave the lot in your used car.

Consider financing

Checking out a used car calculator can give you a ballpark idea of what you'll pay for a specific year, make, and model. When considering financing, make sure to input your expected down payment. If you have a trade-in vehicle, it might be worth looking into how much its worth if you sold it independently.

When it comes to financing, make sure to take the total amount borrowed, loan period, and interest rate into account. Many lenders require a specific amount of minimum insurance coverage. Don't forget to take that into account.

Ask about fees

Buying any sort of car comes with some fees, but the fees may vary. To avoid any surprise fees, ask for a breakdown of each charge. Some common fees include registration, documentation, and sales tax. If you don't recognize a fee, make sure to ask about it. It's important to understand every charge when you're purchasing a new car. After all, if you don't have to pay it, you may as well save some money.

Have a test drive checklist

You should never buy a used car without test driving it. Creating a checklist of things to look out for and other factors to consider can streamline the entire process. Take note of any weird noises and smells. Make sure to drive normally, just as you would on any other day, to get a true feel for the vehicle.

Check the warranty

Some used cars are advertised as Certified Pre-Owned, which means they're covered by the manufacturer warranty. It can pay to know whether your used vehicle is covered by the manufacturer warranty or a third party.

It may be worthwhile to look into an extended warranty if the vehicle is more than three years old. Many manufacturer warranties expire once the car hits a certain age. If that's the case, purchasing a warranty could provide some peace of mind on the road.

Visit Midwest Superstore to learn more about the benefits of buying a used car.