Why Is Buying A Used Car A Smart Move?

What are the benefits of buying a used car?

Not only will you save lots of money on the purchase price itself (you’ll benefit from the strong depreciation occurring the first two years), but you will also benefit lower expenses, such as insurance premiums, annual registration fees (depending on your state, this rate is often based on your car’s value). However, when the car is getting too old or when the mileage is significant, beware of the maintenance costs of some vehicle.

Oftentimes, older cars have less computerized technologies that can be a money pit when some modules breakdown. Simpler technology means more reliability down the road, along with cheaper maintenance costs.We recommend to pay cash to avoid paying financial fees, especially if the price is under $7,000. Having to finance your purchase often means that the car you are expecting to buy is too expensive regarding to your income.

What type of used car should I buy?

It depends on the future use of the car. Do you need a small car, a SUV, or a bigger pick-up truck? Will it be a daily driver, a commute, or will it be only used on weekends? How many miles are you planning to drive annually?

After choosing the best engine for that car (4, 6 or 8 cylinder), estimate the gas mileage for the selected model and compare it to what you’re currently paying.

Make sure to check the history of the vehicle.

Before going any further, YOU MUST RUN A VIN CHECK to avoid lots of potential problems. It will provide you many benefits such as:

Knowing how many people had owned the car before you intent to buy it
Avoiding any type of fraud such as odometer rollback
Getting valuable information about recalls and accidents, theft records
Being sure that the car is associated with a clean title (many used car unfortunately have salvage or rebuilt titles, there’s also the possibility that the car has lien on it).

How do I run a VIN check on a car?

Many providers offer you VIN checks. We have selected VinAudit’s offer because:

VinAudit partners with the Federal Motor Carrier Safety Administration (FMCSA), the Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) and non-profit organization National Insurance Crime Bureau (NICB)
Approved First-level Government Data Provider
Easy to use and instant report, not only on history but also on market value, ownership cost and external resources on the vehicle.
Great customer review (88% positive from more than 1,000 reviews – source: eKomi as of Dec. 2020) based on the value provided for the price compared to other providers, the type of information provided

> > Click HERE To Get Your Personnal VIN Check! < <

Once I have selected a car, or truck, or whatever, what should I look for?

Below you’ll find a used car inspection checklist on the main things you should look for. You can download and print this PDF and check the boxes when you perform the inspection of the used car.

Download Your Free PDF Here:

Download your free Buying a used car checklist PDF here!

 

Back To Budgeting Strategies Posts

 
 

Access Local Information (Real Estate Listings, Insurance Quotes & Other Services in Your Area) Here:


Photo credits: Pixabay
Icons made by Freepik from www.flaticon.com