Buying a used car can be a substantial investment, with considerable costs involved. In tough economic times saving every penny counts; plus why would you pay more than you have too. Stellam Auto Used Car Sales and Loans
Here are a few quick tips when buying a used car.
Financing – Keeping your loan term to the shortest amount of time will save you money in the long run. Generally, it is wise to keep the term within 36 months if possible.
Loan – Obtain a loan for a used car via a third party lender. Generally used car dealers will charge higher rates or tack on additional fees, plus it puts you in a weaker position when negotiating the cars price. If you are in the military or work for the government, there are lending institutions which provide good rates to government personnel, which are unavailable to the general public.
Private sale – Generally you can obtain a used car for a lower price from a private seller. The vehicle may not have a warranty and almost never comes with a guarantee. However, since there is no middle man in the transaction, both the buyer and seller of the used car come out better in the long run.
Inspection – Have a friend who is a good mechanic? Have them inspect the used car for less. Throw a few dollars his way and skip the expensive used car inspections. Additionally, you will be building a relationship which might come in handy in the future.
Car Fax Reports – If you search online numerous websites list discount coupons for car fax reports for your used car. The discount rate isn’t much, but every penny counts!
Wear and Tear Items – Most used cars have worn out parts: tires, brakes, cracked glass, broken/burnt out bulbs and exhaust leaks. Check the car over rigorously as these items add up.
Additionally, make sure all items needed to pass inspection are in good condition; or have the seller knock off a few dollars to compensate. Also, used cars with broken inspection items are harder to sell, so the owner may come down in price.
Change your own oil – Changing your own oil can save you money, especially if you use synthetic.
Application Fees – When obtaining a loan for a used car normally there is an application free. See if the loan officer will waive the fee. Tell the loan officer you just had a kid and times are tuff. Heck, flirt with the person; you might be surprised how far you can get.