No Reservations: The Smart Person’s Guide to Buying Preowned Cars

In 2021, the average price of a new vehicle is $40,857.

New car prices have been on a gradual rise, effectively locking out millions of Americans from the new car market. In a country where many workers are living paycheck to paycheck, it’s easy to see why purchasing a new car is out of reach.

Enter preowned cars.

Purchasing a used car is a smart financial decision. They’re significantly cheaper and don’t depreciate as fast. However, if you’re not a savvy buyer, you can end up with a car that makes your life hell.

That’s why we here. Continue reading for handy tips for buying used cars.

Know Your Needs

Whether you’re buying a new or used vehicle, know your needs. You want to buy a car that suits your lifestyle.

If you live off-the-grid and love camping in the mountains, for example, you need a car that’s built for that purpose. This, in most cases, won’t be the car you’d buy if you needed a car for commuting to work.

Consider the size of your family as well. If you have a big family, you will likely need a car without adequate seating.

Other important considerations include the size of your garage (parking space), fuel consumption, and safety features.

Establish a Budget

The average price of a used car is about $20,000, but this can vary widely depending on the type and model of the car.

Establish a budget enables you to go into the market knowing what you can and cannot afford. When drawing a budget, don’t just look at the cash price. Consider the cost of hiring a mechanic to inspect the car pre-purchase, automobile insurance, and routine maintenance and repairs.

Create a List of Potential Buys

With a budget, it’s easy to create a list of cars that fall within your range. A simple online search, for example, will lead you to various car models you could buy. Do further research by reading expert and user reviews of the various cars you’re eyeing.

If you have a trusted friend or relative who knows a thing or two about cars, ask for their opinion as well.

Ultimately, you want to have a list of about 3 cars you could potentially purchase.

Find a Dealership and Check Out the Cars

Armed with a list of cars, you’re ready to start the hunt. Visit local dealerships and check out the cars.

If you’re not an experienced car buyer, take somebody along. The salespeople at a dealership will give your more information about the car you’re looking to buy, but take their word with a grain of salt.

Get a mechanic to inspect it and ensure everything is in order. VIN verification is an important step when you’re buying a used car. This guide has more information about VIN verification.

Next, take the car on a test drive and put it to its paces. Do you love how it drives? Do you feel comfortable in it?

Buy Preowned Cars the Smart Way

Preowned cars offer great value for money but that’s if you make a smart purchase. Unlike buying a new car, you need to be savvier and more alert. Put these handy tips to use and you’ll end up with a car you’ll love.

Keep tabs on our blog for more car ownership and driving tips.