Tips for Buying a Used Car

New cars depreciate in value as soon as they are driven off the car lot, prompting many to buy a 2- or 3-years-old car. You can be fairly confident that the vehicle will be in good shape, but at a heavily discounted price.  Buying a used car can raise questions. What to buy? Where to buy? How do you know it’s safe? Etc.

Well here are five tips to keep in mind when buying a used car:

1.) Purpose

What do you want from a car? What need is it fulfilling? These are the questions you need to ask yourself. I know it sounds obvious, but make sure you specify exactly what you want. If it is just a car to drive around town, then maybe smaller is better, or are you likely to be ferrying people around and need something bigger.

There are also a lot of considerations to make if you have or will have a family. You may need floor space for strollers, pets, etc... Then again you need to consider all the aspects. If the car is perfect in every way except that your stroller doesn't fit. It might just be worth buying a new stroller.

2.) Private or Dealer

Consider whether you prefer to buy from a used car dealer or from a private party. It is probably safer to buy from a used car dealer, but be sure to ask for recommendations from family and friends. There are dealers who may try to take advantage of you. It is harder for a private seller to put a high price and see the car sold. The problem of buying privately is it is less secure than buying from a dealer, and it could be harder to find details on the cars background. It can be hard judging a used cars price, but have a guide price in your mind. Search used car sites, such as Carfax or Autotrader and check Parkers to find out what a similar vehicle costs.

3.) Operating costs

You may find a car for a great price but you have to consider operational costs. Check the mileage (miles per gallon) to see how fuel efficient it is. Older cars are likely to be less efficient and cost more to operate than a newer equivalent.

Also check what tax band it is in. This is calculated depending on cars CO2 emissions - find out the vehicle's tax band here. Check what the cost of car insurance is on the car and how often it needs to be serviced. Some cars have higher service costs, and parts may be harder to find on older cars.

4.) Car Viewing

Go see it for yourself and take a friend. Ask questions and get a feel for the car. This is an important purchase. Make sure you see all the documents and remember to record the VIN number (Very Important). Ensure that the documents match the car and nothing looks out of place, if it does dig deeper.

Take a good look for wear and tear on the vehicle. Take a test drive (make sure your properly insured). It is also better to do this in the day time so you can visually inspect it. Having a friend along will make sure you are not rushed, and they might spot something you missed (Remember the saying two minds are better than one!).

5.) Buying your used car

So it's time to buy! The car is right for you; everything seems fine, just a few last checks! You should think about doing a HPI check to ensure you aren't going to get encumbered with unpaid debts.

Now to negotiations, always haggle! It pays off, and you can't lose. At worst, they won't budge on the price. If you are buying from a private individual and paying cash, make sure you get a receipt, and have a witness. If you are buying from a used car dealer, then use the Car Tell app to find out what the dealer paid for the car on their lot. It is worth doing all you can to negotiate that price down as dealers normally have high mark ups.

So there are five tips for buying a used car, I hope it guides and helps you as you shop for your next pride and joy.