Buying a used car can be a tenacious process. With so many choices finding the right one can be a real challenge. The advantage you get that if you choose wisely you may land a bigger and better car than buying a new one. And with constant improvement of cars through each generation, there shouldn’t be much hassle to deal with second hand vehicles. To simplify things for you, we came up with seven golden rules to be followed before buying a used car. We have noted them below-
It’s like a rule of thumb, if you are acquiring a loan to buy the car, your car payment must be less than 20% of your take home pay. If you already have a car, try getting estimates of its worth when you trade or sell it. Used cars will most probably be in need of extra attention. You might change the tyres or outlook or improve its maintenance etc. Never spend more than what you can afford to repay. If the car you are buying is out of warranty, make sure to set aside some cash for unexpected expenses.
- Don’t forget to do your research
The most important thing is to figure out which car suits you the most. Compare vehicles of your choice and find the best fit in your budget. Once you have decided the type of car, go through similar quality cars as only comparing prices may be misleading. Don’t hurry, take your time and choose wisely.
- Target list
Make sure to prepare for a list of the best cars that suits your criteria, within your budget and fulfils your needs. And do consider more than one brand. Make a list of your first choices and a separate list of backups.
- Vehicle history report
Check the vehicle history report properly.
- Whether the seller and the registered owner is the same person.
- Fuel economy ratings of the vehicle
- Any mortgage or police report against it, etc
To do this use any free or paid VIN decoder or VIN lookup tool.
- Full mechanical check
Arrange for any reputable organisation to check the car thoroughly. Don’t take any chance; leave this in the hand of the professionals. Also don’t forget to test drive the car yourself several time before and after the check.
Protect your investment by properly documenting everything. The agreement of purchase should be in name of both parties including signatures, etc.