Buying in the Used Car Market
Searching the used car market for a suitable car can be a potential minefield that is difficult to negotiate even if it concludes successfully. By bearing in mind a few tips and doing some research, you can eventually find the car that you desire.
Just because you are buying a used car, it doesn’t mean that you have to be limited in terms of the places that you can buy from. Remember that it does not always follow that you can only find a good deal from certain places.
Although buying from a private seller may seem like an easy and attractive option, it may not offer the benefits of purchasing a car from, say, a car supermarket. If there is a particular car that you desire and this is being sold by a private seller, this route would be the best course of action. However, if you are looking for choice, a commercial seller would be more beneficial. Don’t disregard sellers such as car dealers and auctions as decent cars at bargain prices can still be found via these places.
Always visit different sellers to compare prices.
Do some research of the used car market to determine what price you can expect to pay for the car that you want. Check the specifications of the cars on offer and examine how these have affected the price. If a car, for example, has a lower price because of a high mileage, consider whether this sort of car would appeal to you.
Shopping on the used car market gives you the perfect opportunity to negotiate. There is a lot to be said for confidence even if it is feigned so go in fully expecting the seller to agree to discount the sticker price. Build a rapport with the seller but not to the point where you become too keen to please them. Always keep to your budget and remember that the seller is a salesperson for a reason.
If you have done your research and you think the asking price is a fair one, don’t be afraid to negotiate on extras that will enhance your driving experience.
Even if you are not well acquainted with the inner workings of a car, make sure you look at the car closely for any obvious signs that something is amiss. Dents, scratches and rust patches should be easy to notice, as will any tears, stains or wet patches on the interior. If necessary, ask the seller to show you the engine to see whether the oil and coolant are clean and that it looks in order.
Take the car for a test drive, not only to ensure that it suits the way you drive but also to check that there are no unusual sights sounds or smells emanating from the engine. Just because you are buying from the used car market, it doesn’t mean that paperwork can be forgotten. Ask the seller to produce all the relevant paperwork in relation to the vehicle for your perusal.
Do Dealers take Trade-Ins with a Salvage Title?
The majority of dealers will avoid taking a salvage title trade in. A vehicle with a salvage title is much harder to sell than a normal titled vehicle. A dealer will often not be willing to take on that risk. If they do agree, you can expect the trade in price to be much lower than the Blue Book value of the car. You will often be looking at getting only 50-60 percent of the cars value. When selling a salvage title vehicle, it is often best to sell it privately if possible. It is important to disclose to any potential buyers that it is a salvage title vehicle. Failing to do can result in a lawsuit when the new owner discovers they have purchased a salvage title vehicle.
Before making a purchase on the used car market, consider how you want to pay for the car and the implications. Calculate the repayments that will need to be made if making use of a loan or credit card and consider whether you are prepared to go this route if the amount you have to repay exceeds the value of the car.