Finding the right used or pre-owned vehicle was akin to a treasure hunt. Now, with unlimited deals on the Internet, prospective buyers have great chances of landing an amazing car that falls into their budgets and needs. Buying pre-owned or used cars on sale makes sense because of money savings on depreciation, taxes, registration, as well as car insurance. So, how does one go about buying a used car? Read on to know what the basic criteria are.
Buyers need to decide and set aside how much they can spend on a car. They should also know how exactly they’re going to be paying for it; it could be by cash or they could take a loan to buy the car.
Buyers should have in mind an idea as to why they wish to buy the car and how exactly they are going to use it. Buyers need to take time to think about family sizes, cargo space, crash test results for highway use and safety, etc. and make a list of the must-have features which they won’t compromise on.
Buyers need to know that every used car is different and has been driven for different distances and has different wear and tear. Also, they need to determine the actual cost of ownership since some cars are cheap to buy, but depreciation, repairs, maintenance, and insurance costs add up in the long run.
CarMax, AutoList, AutoTrader, and Craigslist are just some of the online sources that have a great collection of good pre-owned used cars and second-hand cars for sale.
Great pricing guides such as Kelley Blue Book can be used by buyers to estimate the market value of the car they are looking to buy. While looking up prices, buyers also need to see condition levels, mileage, special features, if any, and the model, make, and the year as well.
- Vehicle history and test drive
Buyers also need to check the vehicle history report using the VIN to see whether the car has a clean title, whether it was involved in any accidents, whether the car has been tampered with, what maintenance was done on the car, etc. Lastly, go on a test drive to determine what the car actually drives like.
- Closing the deal
Buyers need to negotiate for the best price by using the information they’ve gathered and quote what they think is a fair price. Last but not least, buyers need to make sure that contract, insurance, sale deed, loan documents, and other papers are drawn up correctly and then register the pre-owned or used car to their name.
As of October 2018, listed below are the top deals for certified pre-owned and used cars on sale in the market:
- When it comes to used small cars, a 2012 Honda Civic is available for $6,700-$11,999, giving a fuel efficiency of 28 MPG in the city and 36 MPG on the highway.
- When it comes to used luxury small cars, a 2009 Audi A3 is available in the range of $4,900-8,400, giving a fuel efficiency of 21 MPG in the city and 36 MPG on the highway.
- When it comes to used compact cars, a 2009 Toyota Prius is available for $5,300-5,400, giving a fuel efficiency of 48 MPGe in the city and 45 MPGe on the highway
- When it comes to used convertibles, a 2010 Ford Mustang is available for 47,600-11,400, giving a fuel efficiency of 18 MPG in the city and 26 MPG on the highway.
- When it comes to used hybrid cars under, a 2011 Chevy Volt is available for around $11,600 on an average, giving a fuel efficiency of 28 MPGe in the city and 36 MPGe on the highway.
Sometimes, it is easier to get a pre-owned or used car on sale than to spend a bomb on a brand new model that will depreciate in value over the years. Go find your dream car in the second-hand car market; you might just find one in great condition on sale.