Buying a second-hand car is a daunting task because you don’t really know who drove the car before you. On the outside, the car might look like a brand new one, but under the hood, the engine has been abused.
In general, people fear buying a used car because of a bad experience, but your next buy doesn’t have to be a wreck, pun intended. There are some telltale signs to look out for to spot a good deal from a bad one. Here is the ultimate guide on sniffing out those hidden gems and buying something that will last you for years to come.
Broaden your horizons
Buying the wrong car is often influenced by emotions. People start looking at cars and fall in love with a certain model and become set on finding that one specific car. This is something you should only do when buying a new car.
When shopping for a used one, be prepared to broaden your search and look at all the options available in your price bracket. A surprise model might pop up and take your breath away. In many cases, it might even be cheaper than the car you originally had in mind.
Do insurance homework
There are times when used cars look like bargains, but the hidden costs turn them into leeches. Before setting your heart on a specific car, do your research and calculate the total cost of ownership. Car insurance will often be the deciding factor that will make or break a deal.
For you to view the product effectively, visit BrokerLink. They can debunk some of the myths and pitfalls that await you when making a purchase. If you don’t ask the right questions or any questions at all, there is no one to blame but yourself when a bad car is in your garage.
Luxury is in the eye of the beholder
Car manufactures are great at selling luxury, and they know that people will pay top dollar for all the bells and whistles. When buying a used car, looking for the base models will often knock a couple of thousand off the price.
Whether you buy the top-end model or the base model, the driving experience is often very similar. There might be some minor differences, but it beats getting hot around the collar every month when that debit order goes down. A ride will always be more relaxing when you know that you can afford it.
Buy certified when possible
Buying a certified used car might be a bit more expensive than a non-certified one, but in the long run, it could save you a lot of money. Certified vehicles have been through several checks and will only be lost if it ticks all the boxes.
This will prevent you from buying something that was in an accident or a car that was stolen for that matter. These cars are mechanically sound and often come with guarantees attached. This is the car to buy when long-term savings is the goal.
Pay more than you should
Buying a used car can be very cost-effective when planning is done right. Buying something that is below a certain budget can save even more money. When down payments are calculated, it is easy to see whether you can afford to pay more on the car. Making a larger down payment will greatly decrease the monthly premium.
To add to the savings, paying more than the minimum monthly installment will also bring down the cost. The interest in cars is insane and every bit of capital that is paid off means massive savings in the end.