Buying a car is one of the biggest purchases you are ever likely to make. As you know, buying a second-hand car is more complicated than buying a new one. Your one wrong decision may put you in some serious trouble. Buying a used car may become the worst deal of your life if, you don’t spend some time doing thorough research. However, by doing a little homework, you may soon be driving the car of your dreams. If you want to strike the best deal where you pay a fair price for a fine set of wheels, you need to follow some basic rules.
Buying a used car obviously carries a certain degree of risk, but not all aspects of buying a used car are bad. Here is a checklist of things you need to look for when buying a used car to safeguard your money.
- Buy from a reputed used car dealer:
It is always better and safe to buy a used car from a franchised dealership rather than privately. This ensures that the car has been mechanically inspected and reconditioned. Moreover, top dealers also provide some additional warranties and you get protection from the Consumer Rights Act. It is good to first investigate the reputation of the dealer or the auto broker. In case, the car you bought from a private seller is not up to the description given in the advert, you have the claim option under the Misrepresentation Act.
- Check vehicle’s documents, exterior and interior:
Investigate the vehicle thoroughly and always check the VRM (Vehicle Registration Mark, that is, the registration plate), engine number and the VIN (Vehicle Identification Number) on the registration document. Vehicle’s history, mileage, engine, brakes, in short, every interior and exterior detail should be examined. A test-drive is a must as it will give you a clear picture. A history check implies to verify if the car has been stolen or written-off by an insurance company.
- Payment options:
To avail a discount, people usually buy in cash. The best approach is to go to the bank with the seller and exchange documents. Another option is to buy on finance by the dealer. If any issue crops up, the finance company will fix it. Always, calculate your approximate monthly payment on the vehicle to make sure it fits within your budget. Ensure that the price of the car is in line with the market value.
- Dealership policies and services:
Check the auto broker’s policies. Some dealers offer a few days money back guarantee if something goes terribly wrong. Moreover, the best dealer will provide you with a copy of the vehicle’s complete maintenance history.
In the case of used cars, judging a vehicle by its performance is more important than considering its price. In a nutshell, buying a used car is a good option, if you have meticulously done your research. It is important to remember when buying a used car to buy with your head and not with your heart. With the help of this used car checklist and a bit of common sense along with some diligence, you can definitely strike the best deal.